Major US indices fell sharply on Monday as rising US treasury yields following a larger than expected jump in US consumer prices, tempered demand for risky assets. Technology stocks are taking the biggest beating as they are most likely to suffer the most from potential economic downturn and rising interest rates. The Fed is expected to announce at least a 50 bps rate hike on Wednesday and analysts are pricing in two half-point and one 75 basis-point hikes by September.
US100, D1 interval. The US technology benchmark broke below the key support at 11,500 points and is now down more than 4.2%. If current sentiment prevails, downward move may accelerate towards next support at 10460 pts, which is marked with 61.8% Fibonacci retracement of the upward wave launched in March 2020. Source: xStation5
Daily summary: Indices and crypto decline amid rising oil prices 🚩 Gold and the US dollar move higher
Oil surges 11% amid escalating Middle-East conflict 📈VIX gains driven by fear on Wall Street
BREAKING: Iran signals Europe will be 'a legitimate target' if EU joins war
Wall Street tries to stop the deeper decline 🗽Marvell Technology jumps 10%
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
