Global Factors influencing ASX stocks on 27 February 2023

On 27 February 2023, at AEDT 12:40 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 82.70 points or 1.13%, and is currently trading at 7,224.10 levels. All 11 sectors are trading lower along with the S&P/ASX 200. The Materials and A-REIT were the top 2 declining sectors, declining 3.10% and 1.68% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Sharply Dropping By 1.43%; 9 Out Of 11 Sectors Are In Red

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, NASDAQ-100, Dow industrial and S&P 500 declined 1.69%, 1.73%, 1.02% and 1.05% respectively.

2. Gold prices are muted today, staying around a two-month low on worries about increasing US inflation and the Federal Reserve's hawkish response, while other commodity prices remained in tight ranges.

3. Asian stocks declinesd as markets were compelled to price in ever-higher peaks for US and European interest rates, weighing on bonds internationally and driving the currency to multi-week highs.

4. The Australian dollar fell from 68.05 US cents to 67.28 US cents. The Wall Street Journal Dollar Index, which measures the value of the US dollar against 16 other currencies, rose to 98.15.

5.The Hang Seng is down 1.68% and FTSE 100 is down by 0.37%.

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