Wall Street closed with slight losses while the dollar gained ahead of Asia’s Thursday trading day.
U.S. stocks finished lower on their Wednesday despite climbing earlier in the session, with the S&P 500 recording its largest one-day reversal since February 2016. The indexes pared early gains in afternoon trade following a rise in the yield of the 10-year U.S. Treasury note.
The move higher in the yields also came amid news that U.S. Senate leaders had come to an agreement over a two-year budget agreement ahead of a Thursday deadline that would have resulted in a government shutdown.
The greenback traded firmer overnight. The dollar index, which tracks the U.S. currency against a basket of rivals, traded at 90.344 at 6:52 a.m. HK/SIN.
The Dow Jones industrial average shed 0.08 percent, or 19.42 points, to end at 24,893.35, the S&P 500 declined 0.5 percent to close at 2,681.66 and the tech-heavy Nasdaq composite lost 0.9 percent to finish the session at 7,051.98.
Moves in the U.S. markets came after several volatile sessions of trade stemming from concerns over rising interest rates, which saw equities sharply sold off. Traders also blamed program trading for the steep declines.
Elsewhere, European markets finished higher on Wednesday, with the pan-European Stoxx 600 ending the day higher by 2.06 percent.
