Daily Market Report (7 March 2022)
- US equities continued to slide as tension in Ukraine overshadowed the improved job data.
- As a result, the DJI Average lost 180 points while the Nasdaq declined by 225 points.
- As the flight out of equities persist, the 10-yrear Treasury yield fell further to around the 1.74% level.
- As for the local bourse, regional weaknesses dragged down the FBM KLCI but remained above the crucial 1,600 level.
- With sentiments turning cautious, we reckon the index to trend around the 1,595-1,610 range today.
- Meanwhile, the Brent crude surged pass the US$118/barrel amid the ongoing Russia/Ukraine tension.
