HomeFinance NewsSeptember likely to stay chaotic

September likely to stay chaotic

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The U.S. stock market had a mixed performance, with the Dow Jones Industrial Average slipping 0.2%, the S&P 500 largely unchanged, and the Nasdaq Composite adding 0.22%. Meanwhile, Asia-Pacific markets, led by Japan’s Nikkei 225, fell. In an attempt to revive itself, the Singapore Exchange launched its first structured certificate. Oil prices also surged to their highest levels in over a year due to a decline in crude inventories in Cushing, Oklahoma. Additionally, shares of China Evergrande Group were suspended as the company’s chairman was placed under police surveillance, and the company reported a significant loss for the first half of the year.

The increase in U.S. Treasury yields, coupled with rising oil prices, has been weighing on the stock market. Rising yields raise concerns about a possible recession as borrowing costs increase. Additionally, surging oil prices can affect various sectors of the economy, leading to reduced spending by companies and consumers. Moreover, there is the looming possibility of a U.S. government shutdown, which would delay economic data and hinder the Federal Reserve’s ability to make informed decisions. A shutdown could also result in a downgrade of the country’s credit rating by ratings agencies, further impacting the markets. Overall, the current market conditions are expected to remain uncertain and potentially messy in the coming months.

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