US Stock market wraps lower; Dow on a fifth-day losing streak

Last session of the week was very volatile but despite that, all benchmark equities ended in the red. The market was driven by the latest announcement from the Federal Reserve that discussed the monetary policy decision as well as their projections.
 
SHEUNG WAN, Hong Kong - June 28, 2021 - PRLog -- The Fed's announcement suggested a hawkish outlook to the monetary policy which was out of the expectations of many traders, in which suggest that at least one or two interest hikes are to be expected before the end of 2023.

The Dow was not able to change the trend this week as another drop was observed this Friday, marking a fifth day of decline. NASDAQ ended giving back some of the gains made on prior days ending lower by almost 1%. S&P dropped by more than 1%, as all the benchmark equities were largely affected by the Fed's statement, causing investors and traders to think twice before making new investments.

Below is the actual movement in Stock Market as of this writing:

- NASDAQ Composite Index decreased by 0.92% or 130.97 points and wrapped at 14,030.38.
- The S&P 500 Index lost 1.31% or 55.41 points closing at 4,166.45.
- The Dow Jones Industrial Average crashed by 1.58% or 533.37 points, to end at 33,290.08.
- U.S. 2 Year Treasury yield jumped 0.047 basis points to 0.258.
- U.S. 5 Year Treasury yield slid by 0.005 basis points ending at 0.876.
- U.S. 10 Year Treasury yield decreased by 0.063 basis points closing 1.443.

Metal dropped in value while oil gained. International currencies end up mixed, though most are down, the currency market seems a bit up.

- Gold was dragged down further by $9.135 or 0.52% and is now at $1,764.235 per ounce.
- Silver decreased by $0.13 or 0.50% to $25.78 an ounce.
- Western Texas Intermediate Crude is currently at $71.64 a barrel gaining 0.84%.
- Brent Crude closed at $73.51 per barrel after increasing by 0.59%.
- Euro / USD = -0.00461 (0.39%) = 1.18592
- USD / Yen = -0.100 (0.09%) = 110.150
- GBP / USD = 0.0118 (0.85%) = 1.3803
- AUD / USD = -0.00712 (0.94%) = 0.74808
- USD / CAD = +0.01100 (0.89%) = 1.24670

For more financial related news and advisories browse as at Redwood Capital Management Limited website via https://redwoodcapitalmanagementltd.com/, you may also check what we can offer for your own financial needs.

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