Financial markets daily

In the currency market

EUR: The euro gained for a second day in a row against the dollar, closing 0.12% higher at 1.2177. Technically, initial upside resistance stands at 1.2223, further resistance at 1.2276, key resistance at 1.2310; Initial downside support stands at 1.2136, further support at 1.2102 and more critical support at 1.2048.

GBP: Sterling fell against the dollar for the first time in six days, closing down 0.93% at 1.4008. Technically, initial upside resistance stands at 1.4125, further resistance at 1.4243, key resistance at 1.4305; Initial downside support stands at 1.3945, further support at 1.3883 and more critical support at 1.3764.

JPY: USD/JPY closed higher for the third day in a row at 106.24, up 0.35%. Technically, initial upside resistance stands at 106.45, further resistance at 106.72, key resistance at 107.04; Initial downside support at 105.86, further support at 105.54 and more critical support at 105.27.

The stock market

U.S. stocks fell sharply on Thursday as soaring Treasury yields prompted investors to dump risky assets, especially pricey technology stocks. At the close, the Dow was down 559.85 points, or 1.75%, at 31402.01. The S&P 500 fell 96.01 points, or 2.43 percent, to 3,829.34, its worst one-day decline since Jan. 27. The Nasdaq closed down 478.54 points, or 3.52 percent, at 13,119.43, its biggest decline since Oct. 28.

LONDON (MarketWatch) — European stock markets ended lower on Thursday as investors grew more cautious about rising U.S. bond yields. The pan-European Stoxx 600 index closed down 1.48 points, or 0.36 percent, at 411.73. Chemical stocks led the decline, falling 1.8%; Germany’s DAX30 index closed down 96.67 points, or 0.69 percent, at 13,879.33. The FTSE 100 index closed down 7.01 points, or 0.11%, at 6,651.96. France’s CAC-40 index ended down 14.09 points, or 0.24 percent, at 5,783.89. The Euro Stoxx 50 index ended down 20.04 points, or 0.54%, at 3,685.95. Spain’s IBEX35 index closed up 50.40 points, or 0.61%, at 8,320.00. Italy’s FTSE MIB index closed down 34.60 points, or 0.15 per cent, at 23,063.55.

Commodity markets

Spot gold settled at $1,770.41 an ounce, down $34.50, or 1.91 percent, after hitting its lowest since Feb. 19 at $1,765.43 and as high as $1,805.45.

COMEX gold futures for April delivery closed down about 1.3 percent at $1,775.40 an ounce.

Crude oil futures were mixed on Thursday. U.S. WTI crude for April delivery settled up 31 cents, or 0.49 percent, at $63.53 a barrel at press time. Brent crude for May delivery settled down 16 cents, or 0.24 percent, at $66.88 a barrel. In the previous session, U.S. oil rose $1.55, or 2.51 percent, to $63.22 a barrel. Cloth oil closed up $1.67, or 2.55 percent, at $67.04 a barrel.

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