U.S. stocks are tumbling in the final hour of trading, with all 11 sectors of the S&P 500 selling off sharply as the index trades around its 2022 closing low that it hit in June. The energy sector is hardest hit with a loss of around 7% amid a drop in oil prices, according to FactSet data, at last check. The consumer discretionary sector was suffering the next biggest loss with a decline of around 3%, followed by a 2.8% drop in shares of materials companies in the index. The S&P 500 SPX,
USDJPY declines; the yen awaits an interest rate decision
The USDJPY pair continues to decline in anticipation of an interest rate decision. The Bank of Japan’s leadership is considering the most suitable rate decision.