Global stocks mostly follow crude, yields lower; tech shakes it off
NEW YORK (Reuters) – Global stocks mostly fell Tuesday along with bond yields and crude prices, as China’s latest tech crackdown and expectations of a hawkish Fed report on Wednesday waved red flags at investors. The dollar edged higher.
The tech-heavy Nasdaq Composite index withstood the stocks downdraft. After falling nearly 1% by mid-day, it rallied to close up 24.32 points, or 0.17 percent, at 14,663.64.
Earlier, Chinese regulators cracked down on U.S.-listed ride-hailing company Didi Global Inc, sending its shares down more than 20%. Other U.S.-listed Chinese e-commerce firms, including Alibaba Group, Baidu Inc and JD.com, fell 3.5% to 4.6%.
Broader stock gauges eased ahead of Wednesday’s release of minutes from the U.S. Federal Reserve’s Federal Open Market Committee (FOMC). Most investors expect the FOMC to confirm a hawkish tilt, meaning a slow tightening of monetary policy.
