world markets news in brief

World Markets Daily News – In Brief – Tuesday 10/05/2022

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. SYDNEY MORNING HERALD (AUSTRALIA)

ASX stems losses to 1% drop after Wall St rout sends Aussie dollar, oil, and iron ore tumbling

The ASX 200 plunged as much as 2.5% this morning before stemming the losses to close just 1 per cent lower at 7051.2. Energy and mining stocks led the drop – both were down more than 2% – but the telco sector managed to finish the day in front.

. RTT NEWS (USA)

Asian Markets Extend Losing Streak

Asian stock markets are trading mostly lower on Tuesday, following the continued sell-off on Wall Street overnight

. CNBC (USA)

European markets climb as global stocks look for rebound from sell-off

European stocks advanced on Tuesday as global markets looked to rebound from a broad sell-off in recent days

. REUTERS (UK)

Oil tumbles on global economic worries, strong dollar

Oil prices tumbled more than 1% on Tuesday, extending the previous day’s steep declines as coronavirus lockdowns in top oil importer China, a strong dollar and growing recession risks fed worries about the outlook for global demand.

Gold firms as weaker U.S. bond yields counter lofty dollar

Gold prices edged higher on Tuesday as a decline in U.S. Treasury yields countered pressure on greenback-priced bullion from sustained strength in the dollar.