India, Sept. 24 -- Strong economic data from the U.S. and the spike in global crude oil prices renewed Fed rate hike fears, triggering a selloff in U.S. bonds that has roiled global financial markets.
Latest data revealed an unexpected jump in manufacturing as well as service sector activity in the U.S. Flash PMI readings for September showed manufacturing PMI jumping to 57 from 53.9 and services PMI jumping to 58.7 from 56.5.
The likelihood of a quarter percentage interest rate hike by the Federal Reserve in October has jumped above 75 percent, according to the CME FedWatch tool.
Wall Street Futures have declined around half a percent. Major benchmarks in Europe are trading in the red. Earlier in the day, Asian markets too had finished ...