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January 13, 2025 at 9:00 a.m. Est.
US equity markets sold off sharply on Friday with the S&P 500 falling 1.5% as a strong jobs report continued to push Treasury yields higher. The index was down nearly 2% for the week closing just under the post-election low. Global markets have been under pressure overnight with most indices in Asia closing down ~1%. China’s trade surplus reached $1T with exports increasing >10% ahead of potential tariffs. As global yields continued to move higher European indices have also been under pressure but have come off the lows as yields have pulled back. Treasury yields are currently hovering around unchanged about 4bps off the overnight highs which has also helped US futures come off the lows as well. S&P futures are currently down ~0.6% while Russell 2k futures are off nearly 1%.
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