The S&P 500 fell 22.98 factors, or 0.52%, at 4,365.73 factors. The Dow Jones Industrial Common dropped 102.42 factors, or 0.30%, at 33,952.64. The Nasdaq Composite misplaced 165.09 factors, or 1.21%, at 13,502.20.

Powell, in his testimony earlier than the US Home Monetary Companies Committee, reiterated that the Fed stays “strongly dedicated to bringing inflation again all the way down to our 2% aim.” 

Shares of Tesla dropped 5.5% and Microsoft 1.3%. Nvidia misplaced 1.7%. FedEx declined 2.5%.

Bond market

The yield on the 10-year treasury was regular at 3.72%. The 2-year treasury yield rose to 4.71% from 4.69% late Tuesday.

Currencies

The US greenback rose to 141.80 Japanese yen from 141.37. The euro rose to $1.0984 from $1.0917.

Canada

Canada shares fell on Wednesday on hopes for additional rate of interest hikes by the central financial institution.

The Toronto Inventory Change’s S&P/TSX composite index ended down 48.19 factors, or 0.2%, at 19,705.95.

Power costs

Brent crude for August supply rose $1.22 to $77.12 a barrel on Wednesday. US crude oil benchmarkfor August supply rose $1.34 to $72.53 a barrel.

Pure fuel for July supply rose 11 cents to $2.60 per 1,000 cubic toes.

Europe

European shares edged decrease on Wednesday, led by tech and actual property shares.

The pan-European STOXX 600 index ended 0.5% decrease.

Britain’s FTSE 100 fell 0.1% at 7,559.18. Germany’s DAX down 0.6% at 16,033.26. France’s CAC 40 fell 0.5% at 7,260.66.

Asia

In Asia, Hong Kong’s Grasp Seng Index plunged 2% at 19,218.35. China’s Shanghai Composite down 1.3% at 3,197.90. Japan’s Nikkei 225 rose 0.6% at 33,575.14.

Australia’s S&P/ASX 200 index broke a 7-day gaining streak and closed 0.6% decrease at 7,314.90. New Zealand’s benchmark S&P/NZX 50 index slid 0.1% at 11,776.25 factors. 

Bullion

Gold for August supply fell $2.80 to $1,944.90 an oz.. Silver for July supply fell 42 cents to $22.81 an oz.. 

Up to date: 22 Jun 2023, 02:10 AM IST