On Wednesday, September 28, US stock futures fell sharply, S&P 500 index futures fell to a new low since December 2020, and the 10-year US bond yield exceeded 4% for the first time since 2010, and stocks in the Asia-Pacific market fell.
US stock futures expanded their declines, Nasdaq futures fell 1.25% at one point, S&P 500 futures fell nearly 1%, and Dow futures fell 0.8%. Currently, the decline in US stock futures has narrowed, with Nasdaq futures falling nearly 0.9%, S&P 500 futures falling nearly 0.7%, and Dow futures falling 0.6%.
As risk appetite continues to decline, Asia-Pacific stock markets have further declined. The MSCI Asia-Pacific Index fell by 1%, the Nikkei 225 Index fell by more than 2%, the Hang Seng Index in Hong Kong and Seoul Composite Index in South Korea fell by more than 2.5%, and the Philippines Index fell by 1.1%.
In addition, after Federal Reserve officials made hawkish remarks one after another, the US dollar rose strongly and the Asia-Pacific foreign exchange market fell.
As investors' risk aversion sentiment heats up, the dollar index continues to rise.
In addition, the decline in the Asia-Pacific foreign exchange market expanded, and the RMB exchange rate against the US dollar fell below the 7.2 mark in the onshore market, the first time since February 2008.
yen fell below 145 against the US dollar for a time during the session, setting its lowest record since 1998, and is only one step away from the low of 147 in the 1998 financial crisis. Some analysts said that the yen may continue to fall to 150 against the US dollar this year.
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