Global Market Update

Advisory Bazaar Info Services

Global Equity Markets

* US equity markets ended lower, with all major indices declining by more than 0.50%.

* European equity markets closed lower, falling in the range of 0.49% to 0.85%.

* Asian equity markets are trading lower, tracking the overnight weakness on Wall Street.

* Indian markets are under pressure, with the Sensex down around 660 points and the Nifty lower by around 226 points.

Crude Oil

* Crude oil prices extended their rally as concerns over supply disruptions intensified amid escalating geopolitical tensions in the Middle East.

* Brent crude moved towards $109 a barrel, while West Texas Intermediate (WTI) traded around $103 a barrel.

* Brent futures gained after rising more than 6% in the previous session.

* Brent has surged nearly 30% from its early-August lows and is on course for its strongest weekly gain since July.

* Brent crude futures were last quoted around $107.74 a barrel, up 0.10%.

* Fighting between Iran-backed Houthi militants and Saudi-backed forces in Yemen has added another threat to Middle East oil flows, which are already facing disruptions due to the wider US-Iran conflict.

US Market

* US stocks ended lower on Thursday as stronger-than-expected producer price data and rising crude oil prices pushed Treasury yields higher.

* The developments also raised concerns about inflation and the possibility of a more hawkish Federal Reserve interest-rate outlook.

Asian Markets

* Asian equity markets are trading lower on Friday following the overnight decline on Wall Street.

* Japan’s Nikkei 225 fell 2.78%, while the Topix declined 1.13%.

* South Korea’s Kospi slipped 2.56%, while the Kosdaq declined 1.64%.

* Hong Kong’s Hang Seng Index futures indicated a lower opening.

Market Focus

Markets remain focused on Middle East geopolitical tensions, crude oil prices, inflation trends, US Treasury yields and the Federal Reserve’s interest-rate outlook.