Good morning, you're listening to Markets Desk.
Equities are under pressure today as bond yields climb on inflation fears, with the S&P five hundred off nearly a third of a percent, the Dow down more than half a percent, and the Nasdaq one hundred shedding about half a percent as well. The yield move is doing the familiar damage — rate-sensitive names leading the retreat and growth stocks feeling the squeeze.
Shifting to soft commodities, cocoa prices pushed to two-week highs after Ghana's Cocoa Board signaled a smaller-than-expected crop from the world's second-largest producer. September ICE New York cocoa edged higher on the session, and with supply concerns already baked into a tight global market, any fresh production risk out of West Africa tends to move prices quickly.
On coffee, the picture is mixed. Arabica is consolidating just below Tuesday's six-and-a-half-month high, holding modest gains as traders digest that recent rally. Robusta, however, is sliding, pressured by rising ICE inventories that climbed to their highest level in more than five months — a reminder that the two contracts often trade on entirely different supply dynamics.
That's the tape. Markets Desk, signing off the floor.
