Arabic version: بورصة أستراليا تتجه لتسجيل سادس تراجع متتالٍ

According to ABC News, the Australian share market was expected to fall for a sixth consecutive trading day on Wednesday, following another weak Wall Street session. ASX futures were down about 0.2% to 8,893 points, while the ASX 200 had closed 0.04% lower at 9,070 points on Tuesday.

The S&P 500 fell for a third straight day, down 0.7%, while the Dow Jones slipped 0.2% and the Nasdaq Composite lost 1.3%. European markets were also mixed, with the FTSE up 0.1%, the DAX down 0.8% and the Stoxx 600 down 0.7%.

Government borrowing costs rose sharply as investors focused on elevated oil prices, high inflation and ballooning debt. Australia’s 10-year bond yield stood at 5.07%, around its highest level in many years. In the United States, the 30-year Treasury yield moved above 5%, its highest level since 2007. Japan’s 10-year yield reached just under 3%, its highest in three decades.

Germany’s 30-year bond yield hit its highest level since 2011, while France’s equivalent yield was at its highest point since 2008. Jonas Goltermann, chief markets economist at Capital Economics, said the rise in yields suggested investors were “losing patience with fiscal profligacy”.

Oil prices climbed to their highest level in more than three weeks as hopes faded for a near-term resolution to the US-Iran war. Brent crude futures rose to $US91.35 a barrel and West Texas Intermediate futures reached $US85.33. The Australian dollar was down 0.3% at 70.8 US cents.