Main indexes of wall street inched down on overnight as global bonds rallied and as concerns about U.S. – Russia increased.
The S&P500 closed down slumping 1.10% while Nasdaq Composite down by 1.30% on close.
Asian markets sharply tracked loss of U.S. with KOSPI. TOPIX, CSI300 and HSI down by 0.85%, 1.00%, 0.46% and 0.19% respectively.
“We see the rally in bonds today as a function of stretched investor positioning, and some global risk-off due to continuing U.S.-Russia tensions around Ukraine, and as reflected in sharply weaker equity markets,” said Andrew Ticehurst, a rates strategist at Nomura Inc.