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Oil Settles Lower, Shrugs Off Saudi Attack After Climbing Above $70/Bbl
Brent climbed as high as $71.38 a barrel in early Asian trade, its highest since Jan. 8, 2020. It settled down $1.12 or 1.6% at $68.24.
Dollar at Three-and-a-Month High on Firmer Yields, US Growth
After falling 4% in the last quarter of 2020, the dollar has strengthened nearly 2.5% year-to-date as investors expect the broad rise in U.S. bond yields to weigh on frothy equity valuations and drive demand for the U.S. currency.
Nasdaq Hits Correction, Dow Advances As Stimulus Bill Nears Finish Line
The Nasdaq is now down 10.6% from its Feb. 12 record close, or more than a 10% slide the market considers a correction.
Stocks Dip As Yields Hold Near One-Year High
A gauge of global stocks dipped in choppy trading on Monday as investors eyed the yield on US Treasuries for signs of inflation pressures in the wake of the US Senate's passage of a $1.9 trillion stimulus bill.
The dollar fell against the currencies of major commodity exporters on Monday as investors increased bets on countries that will benefit from rising prices for oil, metals, and other goods.
Shares, Dollar Celebrate US Stimulus, Oil at One-Year Top
Asian shares rallied on Monday while the dollar held near three-month peaks after the US Senate passage of a $1.9 trillion stimulus bill and a surprisingly strong payrolls report augured well for a global economic rebound.
Nasdaq Ends Sharply Lower After Powell Comments
A decline of 10% from its February record high would confirm the Nasdaq is in a correction.