Stock futures fell, led by large technology stocks, as government bond yields rose to a two-year high
Oil prices rose as geopolitical tensions in the Middle East added to worries about tight supply. Futures for West Texas Intermediate, the main grade of U.S. crude, rose 1.9% to $85.39 a barrel. If the contracts settle above $84.65 a barrel, it will mark their highest closing level since October 2014. Yemen’s Iran-backed Houthi rebels said they were behindon Monday, as intensifying fighting spills out across the region.
Overseas, the pan-continental Stoxx Europe 600 fell 1.1%, with the biggest losses in the technology and travel and leisure sectors. Shares offell 8% after the Swiss asset-management firm said it would notch a net loss for 2021 equivalent to around $33 million. Major indexes in Asia broadly closed lower, although China’s Shanghai Composite bucked the trend, adding 0.8%. South Korea’s Kospi fell 0.9%, Japan’s Nikkei 225 edged down 0.3% and Hong Kong’s Hang Seng declined 0.4%.
The U.S. dollar last year saw its largest increase in value since 2015. That is good for many American consumers, but it could also put a dent in stocks and the U.S. economy. WSJ's Dion Rabouin explains. Photo illustration: Sebastian Vega/WSJCopyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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