NEW YORK: World equity markets declined on Thursday, snapping a seven-session winning streak, with U.S. stocks on the defensive and the dollar strengthening after the Federal Reserve kept interest rates unchanged.The U.S. central bank held rates steady and said ongoing strong job gains and household spending had kept the economy on track.Its statement showed little change in the Fed's outlook for the economy since the Fed's previous meeting in September aside from noting that "business investment had moderated from its rapid pace earlier in the year."U.S. "There are those people who are unsatisfied by this statement because they were looking for a more dovish tone after last month’s market volatility," said Gene Tannuzzo, deputy global head of fixed income at Columbia Threadneedle In Minneapolis. "That’s why we see short-term yields ticked up and stocks down here. They are still on track. crude settled down 1.62 percent at $60.67 a barrel and Brent last settled at $70.65, down 1.97 percent.Benchmark 10-year U.S. Treasury notes last fell 8/32 in price to yield 3.241 percent, from 3.213 percent late on Wednesday.
Source: thestar November 08, 2018 21:11 UTC