World Shares Slip as Iran Rial Hits 2.02 Million per Dollar
Updated
Updated · The Associated Press · Aug 24
World Shares Slip as Iran Rial Hits 2.02 Million per Dollar
3 articles · Updated · The Associated Press · Aug 24
Summary
Asian and European stocks mostly fell Monday, with South Korea’s Kospi down 3.1%, Hong Kong’s Hang Seng off 1.9% and S&P 500 futures 0.2% lower.
Treasury pressure stayed central to the selloff after the 10-year U.S. yield returned to 4.73% Friday and held at 4.71% early Monday, despite the Treasury doubling longer-term bond buybacks.
Iran’s rial sank to a record 2.02 million per dollar on informal markets as Washington prepared new sanctions, adding strain to an economy already hit by earlier sanctions and a U.S. naval blockade.
Oil eased—Brent fell 1.1% to $93.32—but markets remain focused on war-driven inflation, Wednesday’s U.S. PCE report and signals from Jackson Hole on rates and bond policy.