{"id":114422,"title":"What happened overnight – Friday 17th May 2024","publisher":"Share Talk","author":"sharetalk","published":"2024-05-17T07:30:45+00:00","modified":"2024-05-17T07:30:45+00:00","canonical_url":"https://www.share-talk.com/what-happened-overnight-friday-17th-may-2024/","markdown_url":"https://www.share-talk.com/what-happened-overnight-friday-17th-may-2024.md","json_url":"https://www.share-talk.com/what-happened-overnight-friday-17th-may-2024.json","category":"B2B","categories":["B2B","Blogs","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["Asian","Dow Jones Industrial Average","Hang Seng","Hong kong","Nasdaq Composite index","S&P 500","South Korea","Stock Markets","Taiwan","Tokyo","US stocks","US Treasury bonds","Wall Street"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/05/WORLD-750x406-1.webp?fit=750%2C406&quality=80&ssl=1","format":"news","language":"en-GB","content":"Asian stocks declined after Federal Reserve officials indicated that high interest rates might persist, despite initial signs of easing inflation.\n\nOn Wednesday, data revealed a deceleration in US consumer price inflation, leading markets to quickly anticipate at least two interest rate reductions this year.\n\nHowever, enthusiasm waned following a report that showed a still robust labour market and ongoing caution from central bankers about inflationary pressures.\n\nThe MSCI broad index of Asia-Pacific shares outside Japan dropped 0.4% after reaching a two-year peak on Thursday. Despite the dip, the index is on track for a 2% weekly increase, marking its fourth consecutive week of gains.\n\nJapan’s Nikkei fell 0.3%, while China’s blue-chip stocks declined by 0.2%.\n\nHong Kong’s Hang Seng Index was a notable exception, reaching its highest level since August 2022 and last reported up by 0.3%.\n\nIn the US, the Dow Jones Industrial Average broke the 40,000 mark for the first time on Thursday, climbing as high as 40,051.05, with the S&P 500 and Nasdaq also achieving record highs before receding slightly by the end of trading.\n\nUltimately, the Dow Jones Industrial Average dropped 0.1% to 39,869.38, the S&P 500 declined by 0.2% to 5,297.12, and the Nasdaq Composite decreased by 0.3% to 16,698.32.\n\nYields on 10-year Treasury notes increased slightly to 4.38% from 4.35% the previous day."}