Markets down after Wall Street selloff resumed - 28.2.2025

The Dollar strengthening continues today. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rallied 1.2% on Thursday.

GBP/USD joined EUR/USD’s accelerated sliding yesterday. Both euro and Pound are lower against the dollar currently. USD/JPY reversed its sliding Thursday while AUD/USD accelerated its retreating with both the yen and Australian dollar lower still against the Greenback currently.

US stock index futures are up currently with the yield on benchmark 10-year Treasury notes down at 4.227%. The three main stock benchmarks ended solidly lower on Thursday recording daily losses in a range from -2.78% to -0.45% as weekly jobless claims exceeded estimates and pending home sales also disappointed.

European indexes futures are down today after stock indexes closed lower yesterday despite Economic Sentiment Indicator data showing improvement in euro zone economic sentiment. Asian stock indexes futures are falling today with Hong Kong’s Hang Seng leading losses as president Trump said an extra 10% duty on Chinese imports will be imposed next Tuesday because fentanyl from China is still pouring into the US.

Brent is retracing lower currently. Prices ended over 2% higher on Thursday after president Trump revoked a license granted to US oil major Chevron to operate in Venezuela. The Chevron license revocation means the company will no longer be able to export Venezuelan crude amounting to about 240,000 barrels per day, more than a quarter of the country’s entire oil output. West Texas Intermediate (WTI) futures gained 2.5% but are lower currently. Brent futures rose 2.1% to $74.04 a barrel on Thursday.