New Wall Street Sell-Off Drags Down Global Stocks

New Wall Street Sell-Off Drags Down Global Stocks

European and Asian markets slid on Thursday following a new Wall Street sell-off on Wednesday, impacting all three major American indexes.
The Dow Jones fell 1.9% while the S&P 500 fell 2.4%, with almost every industry ending in the red. The tech-heavy Nasdaq suffered most, losing 3%. Overall, the day’s losses saw the S&P 500 and Nasdaq brought down to their lowest closing levels since July.
US futures indicated further losses on Thursday as European markets opened. Dow and S&P 500 futures were both down 0.4%, and Nasdaq futures opened 0.7% lower.
Investor sentiment was impacted by a number of factors, including a statement from Federal Reserve chair Jerome Powell that the Fed had done “basically all of the things that we can think of” to safeguard the economy in the absence of further fiscal stimulus. Sentiment also appeared to be impacted by comments from President Donald Trump that he would not commit to a peaceful transition of power in the event of an election day loss.
Following Wednesday’s losses, stocks slid overnight in Asia. Hong Kong’s Hang Seng index fell 1.8%, Japan’s Nikkei by 1.1% and China’s Shanghai Composite by 1.7%. South Korea’s KOSPI experienced the region’s steepest decline, ending 2.6% down.

European investor pessimism in reaction to the Wall Street losses was compounded by the reinstatement of lockdown measures in the UK following a resurgence in coronavirus cases, with new restrictions also being unveiled in France on Wednesday.
Britain’s FTSE 100 and France’s CAC 40 each fell by 1.2% on Thursday, while Germany’s DAX lost 1%. The Europe-wide Stoxx 600 also slid 1.1%.


Source link

New Wall Street Sell-Off Drags Down Global Stocks
Leave a Reply

Your email address will not be published. Required fields are marked *

Scroll to top