Business News Asia
—- The Dow on the New York Stock Exchange closed lower under pressure from rising bond yields. Investors remain concerned about inflation and rising interest rates.
The Dow Jones Industrial Average closed at 34,451.23, down 113.36, or -0.33%.
The S&P 500 closed at 4,392.59 points, down 54.00 or -1.21%.
The NASDAQ closed at 13,351.08, down 292.51, or -2.14%.
—– WTI crude oil futures closed higher after reports that the European Union (EU) is preparing measures to impose sanctions on Russian oil imports.
WTI crude futures were up $2.70, or 2.6%, at $106.95 a barrel.
BRENT crude futures were up $2.92, or 2.7%, at $111.70 a barrel.
—- The gold contract closed lower. It fell for the first time in six days as a stronger dollar pressured gold futures. In addition, gold contracts were sold after being technically overbought.
Gold was down $9.8, or 0.49%, at $1,974.9 an ounce.
Silver was down 33 cents, or 1.27%, at $25.7 an ounce.
The platinum contract was up $4.6, or 0.46%, at $994.2 an ounce.
The palladium futures were up $15.90, or 0.7%, at $2,355.40 an ounce.
—- The US dollar strengthened against the euro. The euro weakened after the European Central Bank (ECB) left interest rates unchanged and indicated that it would implement plans to reduce stimulus measures.
The dollar index against the six major currencies in a basket of currencies rose 0.45% to 100.3200.
The US dollar strengthened against the yen at 125.97 yen from 125.60 yen.
The dollar strengthened against the Swiss franc at 0.9425 francs from 0.9341 francs.
The dollar was higher against the Canadian dollar at 1.2606 Canadian dollars from 1.2568 Canadian dollars.
The euro was lower against the dollar at $1.0837 from $1.0889.
The pound weakened to $1.3073 from $1.3110.
The Australian dollar was lower to $0.7417 from $0.7447.