New York Stocks plunge on intense tightening and Treasury yields rise dramatically … Briefing once a rainy morning in the central region

◆ New York Stock Exchange Falls on High Strength Yields Tighten and Treasury Yields

Major US stock indexes fell on the 22nd local time on concerns that intense tightening by the US central bank (Fed) will continue. On the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 30,076.68, down 107.10 points (0.35%) from the previous trading day. The Standard & Poor’s (S&P) 500 index fell 31.94 points, or 0.84%, to 3,757.99. The tech-focused Nasdaq fell 153.39 points, or 1.37%, to close at 11,066.81. At the Federal Open Market Committee (FOMC) meeting the day before, the Fed announced that it would raise the benchmark interest rate by 0.75 percentage points for the third time in a row, and that it would raise rates at a rate that was higher than market expectations. . US Treasury bond prices fell and interest rates rose on the day amid high strength tightening expectations.

◆ International oil prices are rising on supply concerns and Chinese demand expectations

International oil prices rose slightly on supply concerns and expectations of increased demand from China. On the New York Mercantile Exchange, the price of West Texas Intermediate (WTI) for the November contract finished at $83.49 per barrel, up 55 cents (0.66%) from the previous day. The European Union (EU) reached an agreement on the eighth round of sanctions against Russia today. The sanctions are known to include a cap on the price of Russian oil.

◆ Office of the President “He said ‘if you blow’, not Biden … it’s not about the beauty, it’s about the field”

The presidency’s office said, in relation to the controversy surrounding President Yoon Seok-yeol’s ‘magic’ comments during his trip, that it was not targeting US President Joe Biden or the US Congress, but was referring to concerns about our opposition. In a local briefing held on the 22nd, Kim Eun-hye, a senior public relations chief, said of the president’s comments, “There is no mention of the United States, and there is no reason to say Biden.” After leaving the meeting room after the ‘7th Financial Commitment Meeting of the Global Fund’ hosted by President Biden the day before, President Yoon told his staff, “If the National Assembly does not approve these XXs , what should I do?

◆ Foreign ministers of South Korea, USA, and Japan meet in New York… “Close cooperation between the three countries on the North Korean nuclear threat”

The foreign ministers of Korea, the United States and Japan met in New York, United States of America. Foreign Minister Park Jin, US Secretary of State Tony Blincoln, and Japanese Foreign Minister Yoshimasa Hayashi discussed ways to work together on North Korea’s 7th nuclear test at a trilateral foreign ministers’ meeting on the 22nd local time. During the meeting, which lasted about an hour, the ministers of South Korea, the United States and Japan agreed to further strengthen trilateral cooperation on pending issues such as North Korea’s nuclear program.

◆ The second public statement of the government 尹… The average fortune of 16 people in the presidential office is 3.8 billion won

It is estimated that the average wealth of 16 staff members appointed to the presidential office in June this year won 3.8 billion. The Official Government Ethics Committee has published the property registration information for high-ranking public officials today in the Electronic Official Gazette. The subject of this disclosure is 801 people whose status has changed, including 26 high-level public servants newly appointed at level 1 or above in June this year, 43 who were promoted, and 720 who retired. The top public official who reported the most property in June was Prime Minister Park Seong-geun, who reported 22.93 billion won.

◆ August producer price, down 0.3% from previous month… Down after 1 year and 10 months

Last month, the producer price index declined for the first time in a year and 10 months. This is interpreted as the result of the recent reduction in the increase in international oil prices. According to the Bank of Korea, the producer price index (provisional) in August recorded 120.12 (2015 level of 100), 0.3% lower than in July. It showed a downward trend for the first time in a year and 10 months since October 2020 (-0.4%). However, this is 8.4% higher than a year ago, showing an upward trend for the 21st month. Compared to the previous month, industrial products fell by 1.4%. In particular, the reduction in coal and petroleum products was 8.6%.

◆ ‘autumn equinox’ where day and night are the same length… Cloudy and rainy once in the central region

Friday the 23rd is the autumnal equinox when day and night are the same length, and there will be many clouds across the country. From morning to afternoon, there will be places where it will rain for a while in the central region (except Gangwon Yeongdong). During the day, there will be places where rain drops will fall in Jeollabuk-do. The expected precipitation is 5 to 10 mm in the metropolitan area and 5 provinces in the West Sea, and less than 5 mm in the Yeongseo and Chungcheong areas of Gangwon. It was predicted that the maximum temperature during the day would be between 21 and 28 degrees Celsius. For now, it is expected that the temperature difference between day and night will be more than 10 degrees, mainly inland.

From Jung-min, reporter at Hankyung.com blooming@hankyung.com

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