'Heightened concern': US markets close to a 'grim picture'

CommSec’s Tom Piotrowski says there was a “grim picture” when US markets closed. “The reason being is we have seen stronger wages figures overnight where the US is concerned in the last quarter,” Mr Piotrowski told Sky News Australia. “And that has just exacerbated concerns about the outlook for interest rates. “We have seen both long and short-term interest rates march higher on Wall Street by a decent clip – up by about six basis points. “So that is a decent move higher at a time when there is already heightened concern about what interest rates are doing.” Presented by CommSec.