Mixed Equities Markets Ahead of ECB Rate Decision
Global equities markets were mixed ahead of the European Central Bank's (ECB) decision on its policy rate, amidst rising energy costs due to the Middle East conflict. The surging oil prices have tightened financial conditions across markets, fueling inflation concerns and reinforcing expectations that interest rates may remain elevated for longer.
The Dow Jones closed 1.18% lower, while the S&P 500 lost 0.58% and the NASDAQ ended the session down 0.32%, as credit-sensitive tech stocks weakened. The Euro Stoxx 50 closed 0.14% higher, with industrial gains offsetting weakness in insurers and luxury stocks.
Asia-Pacific trade was defensive, with the Hang Seng Index trading flat amid oil and inflation fears. The Johannesburg Stock Exchange (JSE) was set for a soft open this morning after closing higher in the previous session.