A down day on Wall Street may see Asia-Pacific markets open to the downside. The technology-heavy Nasdaq 100 index lost 2.16% Monday, with Facebook leading markets lower as the social media grapples with a platform-wide outage. That follows poor performances across Asia and European equity markets on Monday. Treasury yields ticked higher, although the 10-year note’s yield failed to maintain above the 1.5% mark.
Crude oil prices hit the highest level in seven years, with WTI climbing over 3%. Energy traders hit the buy button after the Organization of the Petroleum Exporting Countries (OPEC) and its allies declined to increase production despite rising consumer demand. Some analysts expected an increase to 400k barrels per day in November, but OPEC opted to continue with a production increase of 400k barrels. The news lifted Brent oil and gasoline prices higher as well.
