【今日单词】
tumult /ˈtjuːmʌlt/
noun
a loud, confused noise, especially one caused by a large mass of people.
"a tumult of shouting and screaming broke out"
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原文如下：
The day in the markets
by Ian Johnston and William Langley
(来自：The Financial Time 金融时报)
What you need to know
• Wall Street stocks drop for third straight day on rate rise expectations
• Gilts sell off as concerns intensify over escalating energy crisis
• UK gas prices fall sharply after one-day break in trading
US and European stocks fell for a third straight day yesterday as hawkish rhetoric from last week’s economic conference in Jackson Hole fuelled expectations of higher interest rates.
The broad S&P 500 was down 1 per cent by the late morning in New York while the technology-heavy Nasdaq Composite slipped 1.2 per cent.
Across the Atlantic, the pan-regional Stoxx Europe 600 gauge lost 0.7 per cent while Frankfurt’s Xetra Dax rose 0.5 per cent, trimming earlier losses.
London’s FTSE 100 fell 0.9 per cent following a one-day holiday.
Those moves followed two days of weakness in global equities after central bankers reaffirmed their commitment to tackling inflation at an annual summit in Jackson Hole, Wyoming.
In a speech on Friday, Federal Reserve chair Jay Powell said the US central bank “must keep at it until the job is done”, adding that reducing inflation would probably result in lower economic growth for a “sustained period”.
Signalling expectations of further tumult to come in stock markets, the Vix volatility index — known as Wall Street’s “fear gauge” — registered a reading as high as 27.69 yesterday, its most elevated level since mid-July.
The index could rise further, warned Nicholas Colas, co-founder of DataTrek Research. “US equities do not reflect sufficient fear given current macro and micro uncertainties,” he said.
The moves yesterday also came after data showed that US job openings rose to 11.24mn on the last business day of July, above economists’ expectations for 10.45mn jobs.
Meanwhile, UK government debt sold off as concerns intensified about an escalating energy crisis worsening inflation and pushing the Bank of England to more aggressively raise rates.
The two-year gilt yield touched 3 per cent for the first time in 14 years.
The two-year US Treasury yield rose as high as almost 3.5 per cent, its highest level since 2007.
European gas prices extended falls from the previous session after Germany’s economy minister, Robert Habeck, said Europe’s largest economy was on course to hit its storage targets for winter.
Futures contracts linked to TTF, the region’s wholesale gas price, traded at €248 a megawatt hour.
UK gas prices fell sharply after a one-day break in trading, sliding by about 30 per cent to below 450p a therm.
