Dhaka, Bangladesh (BBN) – US markets declined on rising oil prices and a jump in 10 Year Treasury yields, as widespread market fears of inflation pushed the Dow down 107.46 points to 8,504.67.
The yield on the key 10 Year Note, a benchmark for borrowing costs, rose as high as 3.99 percent, according to reports.
The US Dollar (USD) declined against the Euro (EUR) as higher than expected housing starts in the US saw falling demand for Dollar safety. USD fell to 1.3838 against EUR.
The Yen (JPY) declined against most major currencies as demand for higher yields saw investors turn away from the currency generally regarded as a safe asset. JPY fell as low as 98.28 against USD and 137.17 against EUR.
BBN/SS/SI/AD-17June09-6:02 pm (BST)