Global Factors influencing ASX stocks on 26 June 2023

On 26 June 2023, at AEST 11:15 AM, the benchmark index S&P/ASX 200 is trading lower today, dropping 27.10 points or 0.38%%, and is currently trading at 7,072.10 levels. Out of 11 sectors, 6 sectors are trading lower along with the S&P/ASX 200. The Materials and Financials sectors are the top 2 declining sectors, declining 0.66%% and 0.35%% in their index values.

Also read: Mid-Market: S&P/ASX 200 Trading Lower By 0.30%; Investors Continuing To Worry About Russias Instability

On that note, let us look at a few global reasons impacting the stock market today:

1. Key U.S. indices ended lower in their previous session. NASDAQ Composite, S&P 500, NASDAQ-100, and Dow jones ended lower by 1.01%, 0.77%, 1.00%, and 0.65% respectively.

2. The Bank for International Settlements (BIS), the global organization representing central banks, emphasized the need for additional interest rate increases on Sunday. They cautioned that the world economy had reached a critical juncture as countries grapple with the challenge of curbing inflation.

3. In early Monday trading, oil inched up due to concerns about crude supply following an unsuccessful mutiny attempt by Russian mercenaries over the weekend. However, uncertainty among investors about any immediate further implications resulted in other financial markets starting the day steadily.

4. As the new week begins, Asian markets commence a relatively subdued period with limited regional economic, policy, and corporate factors influencing the market. The focus primarily lies on observing investor responses to the extraordinary events that unfolded in Russia over the weekend.

5. The Hang Seng and FTSE 100 is down by 1.71% and 0.54%.

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