Markets Stagnate Amid Rate Hike Fears and Tech Sector Volatility

Global markets were muted on Thursday due to concerns over interest rate hikes and volatility in tech sector valuations. The upcoming FOMC meeting on July 29 added to the anxiety, impacting market sentiment significantly.

Wall Street futures were trading with mild positivity as investors digested the latest earnings updates. However, major European benchmarks showed strong gains. In contrast, Asian markets closed with a heavy negative note earlier in the day.

The Dollar Index edged up by 0.06%, while bond yields mostly eased. Crude oil prices declined around 3% despite disruptions in key transit routes. Gold traded near the flatline, while cryptocurrencies were down on the day.