Commodities
US Equity Indexes Plummet as Fed Prepares to Raise Rates Amid Surging Oil Prices
US equity indexes have fallen as the 10-year yield has reached its highest level in nearly two decades, hitting a 19-year high. Meanwhile, crude oil prices have surged. Despite this, the Fed is preparing to raise interest rates, but some argue it's a mistake.
The odds of a rate hike have climbed to 90%, with the Federal Reserve poised to increase borrowing costs. The impact of this decision on the market and economy remains uncertain. In contrast to the decline in US equity indexes, crude oil prices have surged.
Some analysts believe that if the price of Gold Futures (DEC6) touches its current support level, it may retest recent lows over the past two to three months.