ASX 200 opens flat; why are stocks under pressure today? | AU Market Updates

  • March 01, 2021 01:58 PM AEDT
  • Team Kalkine
    Team Kalkine
    Team Kalkine
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    Team Kalkine comprises of experts who understand various markets nuances and are enthusiastic and passionate to provide best possible offerings in the form of insights and stories. The team has rich experience of working across different markets with...

The ASX 200 on Monday opened flat, up just 3.60 points to 6,676.90, after Wall Street ended mixed on Friday amid concerns around rising bond yields. The 10-year Treasury yield fell 10 basis points to around 1.42 per cent on Friday, after surging above 1.6 per cent at one point on Thursday.

On Friday, the Dow Jones Industrial Average plunged 469.64 points, or 1.5 per cent, to finish at 30,932.37, after touching a session low at 30,911.37. While the S&P 500 lost 18.19 points, 0.5 per cent, to close at 3,811.15, the tech-heavy NASDAQ Composite added 72.91 points.

The index has lost 1.53 per cent for the last five days, but sits 3.76 per cent below its 52-week high. On Friday, the ASX 200 closed at 6,673.30, down 160.70 points or 2.35 per cent. The broader All Ordinaries index was up 0.046 per cent, while the ASX 200 VIX Index was up 23.855 per cent.

While ASX 200 Information Technology was up 0.738 per cent, ASX 200 Materials was down 0.007 per cent.

Australian Dollar, Bonds, Oil and Bitcoin AUD/USD was trading up 0.24 per cent to 0.7715. The Australian government’s 10-year bond yields stood at 1.688, down 8.86 per cent. Bitcoin was trading down 1.36 per cent to US$45,266.99.


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