【今日单词】
endure /ɪnˈdjʊə/
v.
remain in existence; last.
"these cities have endured through time"
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原文如下：
US stocks sink as strong data support case for further tightening
by Tommy Stubbington
(来自：The Financial Time 金融时报)
Global stocks fell yesterday after better than expected US economic data bolstered the Federal Reserve’s belief that further monetary tightening is required.
The S&P 500 fell 2 per cent in afternoon dealings after US third-quarter GDP growth was revised higher to a 3.2 per cent annualised rate from 2.9 per cent in November.
Weekly initial jobless claims numbers were also lower than expected at 216,000, below the 222,000 forecast by economists. The tech-heavy Nasdaq Composite index slid 2.8 per cent.
The upward revision in growth “[confirms] the Fed’s assertion that the real economy is on strong enough footing to endure restrictive monetary policy for an extended period of time,” said Ian Lyngen, head of US rates strategy at BMO Capital Markets.
The fresh bout of selling comes in the penultimate week of a year that has been dominated by the Fed’s attempt to tamp down inflation with large rises in borrowing costs.
The S&P 500 is down by around a fifth for 2022, leaving Wall Street’s blue-chip share index on track for its worst year since the 2008 financial crisis, according to Refinitiv data.
Bond markets have also sustained a powerful blow, leaving investors with few corners to seek refuge.
Wall Street’s declines yesterday also spread to European stocks, which had earlier wavered between small losses and gains.
The Stoxx Europe 600 fell 1 per cent while the UK’s FTSE 100 gave up earlier rises to trade 0.4 per cent lower.
Earlier, the MSCI Asia Pacific rose 0.8 per cent as the dust continued to settle on the Bank of Japan’s decision to relax its policy of pinning bond yields near zero earlier this week.
The losses came as the US economic data dented appetite for interest rate-sensitive short-term government debt. The two-year Treasury yield rose slightly to 4.24 per cent.
Trading volumes are typically light with the holiday season in full swing, something that can exacerbate price fluctuations across markets.
Longer-term government debt continued to steady after being rocked by the BoJ’s surprise announcement on Tuesday.
The 10-year US Treasury yield fell by 0.02 percentage points to 3.67 per cent, while yields in the eurozone and the UK climbed slightly.
In currency markets, the pound fell following data showing the UK economy contracted by a larger than expected 0.3 per cent in the third quarter from the previous three-month period.
Sterling traded 0.4 per cent lower against the dollar at $1.2040.
The figures suggested that the anticipated downturn in the UK economy could arrive sooner than previously expected, said Investec economist Ellie Henderson.
