The U.S. Dollar Index is trading at 98.00 up with +0.05% percent or +0.05 point. The Dow Futures is trading at 25,221.50 with a loss of -0.58% percent or -147.50 point. The S&P 500 Futures is trading at 2,789.62 with a loss of -0.55% percent or -15.38 point. The Nasdaq Futures is trading at 7,238.75 with a loss of -0.77% percent or -0.77% point.
TODAY’S FACTORS AND EVENTS
The Swiss franc gained across the board on Wednesday and the yen rallied to a two-week high versus the dollar as investors flocked to perceived safe havens assets amid growing fears about trade and growth.
The wave of risk aversion sent sovereign bond yields tumbling across the world. Benchmark U.S. Treasury yields fell to their lowest levels since September 2017 while New Zealand bond yields tumbled to a record low.
The mood darkened after the People’s Daily newspaper, owned by China’s ruling Communist Party, said Beijing was ready to use rare earths for leverage in its trade dispute with the United States. “Don’t say we didn’t warn you,” it added in a strongly worded commentary.
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 25,347.77 with a loss of -0.93% percent or -237.92 point. The S&P 500 is trading at 2,802.39 with a loss of -0.84% percent or -23.67 point. The Nasdaq Composite is trading at 7,607.35 with a loss of -0.39% percent or -29.66 point.
WORLD MARKETS
Other leading market index closes included the small-cap Russell 2000 Index closed at 1,504.02 with a loss of -0.67% percent or -10.09 point; the S&P 600 Small-Cap Index closed at 911.79 with a loss of -0.63% percent or -5.75 point; the S&P 400 Mid-Cap Index closed at 1,844.17 with a loss of -1.00% percent or -18.66 point; the S&P 100 Index closed at 1,240.99 with a loss of -0.77% percent or -9.68 point; the Russell 3000 Index closed at 1,649.75 with a loss of -0.82% percent or -13.60 point; the Russell 1000 Index closed at 1,551.81 with a loss of -0.83% or -12.97 point.