The Dow Jones Industrial Average dropped 274.30 points, or 0.71%, to settle at 38,380.12. The S&P 500 slipped 0.32% to close at 4,942.81. The index hit a record high last week as Big Tech stocks moved higher. The Nasdaq Composite edged down 0.2% to end at 15,597.68.

ASX to fall. SPI Futures down 33 points (-0.43%).

• Base metals lower across the board. Nickel -1.69%, Aluminium -1.47%, Lead -1.36%, and Tin -2.53%.
• Copper prices hit two-week lows, off 1.09%, as the dollar climbed and pessimism towards China’s property sector weighed.
• Zinc down 1.27%, hitting its lowest level in almost 8 weeks on weak consumption in China’s construction sector.
• Gold dropped 0.70%, weighed down by rising bond yields.,
• Oil prices rise on concerns that rising tensions in the Middle East and the Russian invasion of Ukraine could curb supply. WTI +0.67% and Brent Crude +1.19%.
• 10Y Bond Yields – US 4.166%, Australia 4.182%, and Germany 2.316%.
• USD Index +0.53% at 104.47, nearing a three-month high. Aussie dollar down -0.46% to 64.81c. Japanese Yen +0.22%.

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