Latest development3 months ago
US Market Sell-off Broadens as Dow and S&P 500 Futures Plunge
Nasdaq futures dropped 548 points as semiconductor stocks faced pressure, while the USD showed mixed performance against major peers.
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The USDCAD pair faced significant selling pressure following weaker-than-expected US inflation data, breaking key technical support levels and stabilizing near resistance zones at 1.4068 and 1.4077. Markets are currently awaiting the Bank of Canada's rate decision and US retail sales data to determine the next fundamental direction, amid mixed US Dollar performance and rising Treasury yields. Meanwhile, US equity futures pointed to a weak opening led by a sell-off in tech stocks, and the USDJPY pair fluctuated following Japanese comments on domestic investment.
Nasdaq futures dropped 548 points as semiconductor stocks faced pressure, while the USD showed mixed performance against major peers.
Read the full storyThe US Dollar holds steady as traders look to upcoming retail sales and labor market data to refine Federal Reserve interest rate expectations.
The USDCAD pair broke key technical support levels following weaker-than-expected US CPI data, as traders shift focus to the upcoming Bank of Canada rate decision.