-US indices finished yesterday’s session lower as tech shares were pressured by rising yields. S&P 500 dropped 0.74%, Nasdaq moved 2.04% lower and Russell 2000 declined 1.92%. Dow Jones finished flat
– Stocks in Asia traded lower as well with S&P/ASX 200 dropping 0.7% and Kospi moved 0.9% lower. Nikkei gained 0.1%
– Indices from China experienced another day of heavy selling with 3.2-4.9% declines. Another big jump in Covid cases was reported in the country – 5280 compared to 1437 a day ago
– DAX futures point to a lower opening of the European cash session today
– China rejected media reports saying that Russia has asked it for military equipment
– United States warned China that supplying weapons to Russia will be met with consequences
– Marco Rubio, US senator and member of US Senate Intelligence Committee, said that Russia has no manpower, nor morale to capture Kyiv at the moment
– Another round of Russia-Ukraine talks will be held today
– Russia banned grain exports to Eurasian Economic Union until the end of June and sugar exports to countries outside the Union until the end of August
– RBA minutes showed that Bank sees Ukraine war as a new sources of uncertainty and it plans to remain patient with policy moves
– Chinese retail sales increased 6.7% YoY in February (exp. 3.0% YoY), industrial production was 7.5% YoY higher (exp. 4.0% YoY) while urban investments jumped 12.2% YoY (exp. 5.1% YoY)
– Oil continues to slide with Brent trading just slightly above $100 per barrel and WTI trading near $97 per barrel
– Precious metals are trading mostly lower with gold, silver and platinum dropping over 1%. Palladium is an exception as it gains 1.7%
– EUR and GBP are the best performing major currencies while AUD and NZD lag the most
Nasdaq (US100) finished yesterday’s trading slightly below the support zone in the 13,200 pts area. Tech shares were pressured by pick-up in US yields yesterday. In case pressure persists, the next support zone to watch can be found in the 12,300 pts area – near the lower limit of a short-term downward channel.
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