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US indices plunged yesterday amid a spike in yields. Nasdaq dropped 3.52%, Dow Jones declined 1.75%, S&P 500 slumped 2.45% and Russell 2000 plunged 3.69%.
Sell-off continued during the Asian session. Nikkei dropped almost 4%, S&P/ASX 200 declined 2.3% and Kospi slumped 3%. Indices from China trade lower
DAX futures point to a lower opening of the European session
US 10-year yields sit slightly below 1.5%
US Senate said that Biden’s $15 minimum wage proposal cannot be part of economic relief package
Japan will lift state of emergency in Osaka and western areas
Reuters reports that United States carried out airstrike on Iranian-backed fighters in Syria
RBNZ Governor Orr that the New Zealand dollar is near fair value. He said that RBNZ is able to stimulate further and that negative rates remain an option
Japan’s industrial production increased 4.2% MoM in January (exp. 4% MoM). Retail sales declined 0.5% MoM (exp. -1.2% MoM)
Private sector credit in Australia increased 0.2% MoM in January (exp. 0.3% MoM)
Bitcoin is recovering from a daily low at $45,000
Precious metals, oil, agricultural commodities and industrial metals trade lower.
USD and JPY are the best performing major currencies while AUD, GBP and NZD lag the most