From Yahoo Finance: 2024-04-12 13:51:26

Global financial markets were rattled by heightened geopolitical risks, causing stocks to drop. Bonds and the dollar surged as investors sought safety. Israel faced potential attacks from Iran, leading to a sharp decline in the S&P 500. Treasuries climbed, with the dollar hitting its highest level in 2024. Wall Street’s fear gauge spiked, while oil prices rose. Amidst geopolitical tensions, gold and oil markets are pricing in potential impacts on the marketplace. Big banks reported mixed results, with JPMorgan and Wells Fargo below estimates, while Citigroup exceeded expectations. The Fed is expected to cut rates twice at most this year, with BlackRock’s CEO projecting inflation to reach 2.8% to 3%. Treasury yields plunged after reaching year-to-date highs on inflation expectations. Bond markets are pricing in two rate cuts by the end of the year. Equity markets remain resilient despite bond market signals, with tech stocks leading the rally. Corporate news includes a steel industry takeover vote and Exxon Mobil’s Guyanese oil development approval. Beijing orders telecom carriers to replace foreign chips in their networks by 2027. Barington Capital Group urges Paramount Global to consider alternative proposals.



Read more at Yahoo Finance: Stocks Get Hit as War Jitters Fuel Rush to Bonds: Markets Wrap