Global Markets Fall After Oil Price Surge and Fed Rate Hike Expectations

Global markets are falling this Tuesday due to a rise in oil prices, which rekindles concerns about inflation and raises expectations that the Federal Reserve will increase interest rates this month. Brent crude is up 3.8% to $91.8 per barrel, while U.S. crude rises 2% to $87.4 per barrel. The massive sell-off of bonds has intensified, with yields in the U.S., Germany, and Great Britain rising by 10 basis points. Eurozone yields have reached new highs not seen in over 10 years, and Japanese 10-year bonds hit 3% for the first time since 1996. The S&P 500 index is down 0.48% in premarket trading, the Nasdaq Composite has fallen 0.95%, and the Dow Jones is down 0.46%. The biggest gainers are Fox Corp, Waters, and Medtronic (+5%), while the largest declines are seen in Motorola (-5%), Steel Dynamics (-3%), and Atmos Energy (-3%). In Europe, the Euro Stoxx is down 0.98%, the German DAX is down 0.18%, and the French CAC is down 0.54%. In Asia, Hong Kong's Hang Seng is down 0.61%, the Shanghai Stock Exchange is down 0.32%, the South Korean Kospi is up 2.70%, and Japan's Nikkei 225 is down 0.97%.

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