Stock Market Today: Dow, S&P Live Updates for March 22, 2021

Photographer: Burak Kara / Getty Images

Asian stocks are poised for a cautious start to the week with investors concerned about rising bond yields and inflation as economic activity recovers. Turkey’s lira plummeted after the head of the central bank was replaced.

US equity futures fell. Futures fell in Japan and Australia and were higher in Hong Kong previously. the Turkish lira plummeted up to 15% in early Asian trade after President Recep Tayyip Erdogan removed the governor of the central bank after a larger-than-expected increase in interest rates. The dollar advanced against most of the Group of 10 currencies.

The S&P 500 Index fell on Friday. The financial sector weighed down the Dow Jones Industrial Average after the Federal Reserve let a capital breakdown for big banks expire. The tech-heavy Nasdaq 100 rebounded from Thursday’s slide. Oil fell after its worst week since October.

A heavy treasury slate Auctions on maturities that have taken a beating recently will keep the bond market on edge this week. Ten-year yields ended last week above 1.7%, at the highest levels in about 14 months.

Benchmark yield on US Treasuries rises above 1.7% for the first time in more than a year

Investor concerns about the possibility of higher interest rates are dominating the equity and bond markets. The bond sale has driven yields higher and fueled a growth rotation toward value stocks, in the view that the rebound in inflation may force the Fed to tighten monetary policy sooner than its current stance suggests.


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