Markets Hit By A New Virus Variant
Dalal Street Investment Journal|July 19, 2021
The global markets were also affected by the key central banks giving thought to tightening monetary policy and the slow pace of vaccinations

The three frontline US indices – Dow Jones, S & P 500, and Nasdaq – hit record highs during the fortnight on the back of a robust increase in non-farm payroll data and continued weakness in their labor markets, which helps stave off the Federal Reserve from elevating interest rates in the near future. However, the 10-year US treasury yields touched 1.25 per cent, their lowest level since early 2021. This put a damper on the party and eroded a portion of gains from the indices. The Dow Jones, S & P 500, and Nasdaq ended the fortnight with gains of 1.27 per cent, 2.08 per cent and 2.38 per cent, respectively.

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