US markets closed lower in trading (18/03/2021), with Nasdaq plunging more than 3%. The increase of the yield on the 10-year bonds which broke through 1.7% put pressure on stocks in the technology sector. Negative sentiment also came from oil price which fell by 7%, as well as the number of weekly jobless claims that rose above expectations.
The decision of the Federal Reserve and Bank Indonesia to maintain interest rate policy was the support for the strengthening of the JCI yesterday. However, rising bond yields and potential profit taking have the opportunity to put pressure on the stock market today. JCI movement is estimated to be in the range of 6,300-6,400.
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