- ASX SPI 200 futures down 0.5% to 7,478.00
- Dow Average down 0.2% to 35,031.07
- Aussie down 0.2% to 0.7370 per US$
- U.S. 10-year yield fell 3.9bps to 1.3342%
- Australia 3-year bond yield rose 1bp to 0.30%
- Australia 10-year bond yield rose 4bps to 1.30%
- Gold spot down 0.2% to $1,790.08
- Brent futures up 1.4% to $72.67/bbl
- 10:30am: (AU) Australia to Sell A$1 Billion 196-Day Bills
- 10:30am: (AU) Australia to Sell A$1 Billion 77-Day Bills
- 11:30am: (AU) Weekly Payroll Jobs and Wages in Australia (for Aug. 14)
- 6:35pm: (AU) RBA’s Debelle Speech Online to Conference
U.S. equities retreated as investors reassessed valuations in light of global economic risks including the spread of the Covid-19 delta variant and reductions in central bank stimulus.
The Nasdaq 100 notched its biggest drop in two weeks, with losses in megacaps including Apple Inc. and Facebook Inc. among the biggest contributors to the decline. The S&P 500 fell for a third day since it closed at a record on Sept. 2. The Dow Jones Industrial Average extended its retreat from last month’s all-time high to more than 1.5%. Europe’s Stoxx 600 dropped to a three-week low. Cryptocurrency-exposed stocks slumped as a selloff in Bitcoin continued.
Wednesday’s declines came as money managers from Morgan Stanley to Citigroup have turned cautious on U.S. equities. Many investors have begun to see relative U.S. valuations as excessive even as growth elsewhere suffers from renewed Covid lockdowns and travel curbs. They doubt the world is ready for an eventual tapering of central-bank stimulus even as inflation accelerates due to supply shocks. End-of-year seasonality and valuation concerns are adding to the gloomy mood.
It is a cricketing hat-trick, but not one that will invite any admiration. A serial pitch invader known as Jarvo 69 interrupted proceedings for the third time in the Test series between England and India yesterday.
Once amusing, now increasingly seen as a nuisance, the corpulent fan ran onto the pitch at the Oval in south London, and bowled a delivery to Ollie Pope before barging into Jonny Bairstow at the non-striker’s end.
He was escorted off the pitch by security, and is expected to be given a four-figure fine. Bairstow looked distinctly unamused, which was hardly surprising: the England player was involved in a previous invasion, which ended with him kicking in disgust a glove discarded by Jarvo.