Actionable news
All posts from Actionable news

Dow futures in triple-digit dive after BOJ surprise

Bank of Japan looms large Thursday

The Dow Jones Industrial Average was facing a triple-digit drop at the open on Thursday, tracking declines across Asia after the Bank of Japan dealt a surprise blow to markets by offering no additional stimulus.

Dow industrials futures YMM6, -0.76% fell 154 points, or 0.9%, to 17,809, while S&P 500 futures ESM6, -0.66% were down 16.45 points, or 0.8%, to 2,074. Nasdaq-100 futures NQM6, -0.34% dropped 20.75 points, or 0.5%, to 4,403.

The Nikkei 225 index NIK, -3.61% closed down 3.6% after Japan’s central bank left its main policies unchanged. That was the biggest daily percentage loss since early February, a move that triggered a sharp rally for the yen.

The dollar USDJPY, -2.91% struggled to hold on to the ¥108 level, a sharp slide from ¥111.32 late Wednesday. Japan also released a pile of data, including consumer prices, which pointed to deflation.

The dollar extended losses after BOJ Governor Haruhiko Kuroda said the bank will “do whatever it takes” to reach its 2% inflation target and said there were no limits to monetary policy measures, according to Dow Jones Newswires.

Surprise, surprise: Stephen Gulfoyle, New York-based managing director of floor operations for Deep Value Execution Services, said the...