Reliance Trading Co. Limited: S&P 500 and Nasdaq dropped big time after breaking new record high

WAN CHAI, Hong Kong - Aug. 20, 2020 - PRLog -- Major indices closed down session this Wednesday lower after government's Federal Reserve minutes brought lack of optimism with regards about the economy's growth on this year's second quarter.

S&P 500 started positive recording another intraday high but ended up lower just before trading session has close.

Apple had reached about $2 Trillion market cap after gaining about 0.1% today, but it did not help Nasdaq to jump up. Amazon and Netflix fell on the other side both slide with more than 1%.

Here are the main movements in the Global Stock Market this Wednesday;

Stocks

-        The Dow Jones Industrial Average dropped for the third time this week, falling short about 85.12 points or 0.31% to 27,692.95 just before today's session end.

-        S&P 500 fell about 14.87 points or 0.44% to 3,374.91. Deleting its record high mark from yesterday.

-        Nasdaq Composite also dipped about 64.38 points or 0.57% to 11,146.46. Falling below its record high mark yesterday.

-        The Stoxx Europe 600 Index has increased about 0.7%.

-        The MSCI Asia Pacific Index is down about 0.5%.

Bonds

-        The yield on the benchmark 10-year Treasury note gained about one basis point to 0.6817%.

-        The yield on the 30-year Treasury bond ended up higher with 3 basis points to 1.4309%.

-        Germany's 10-year yield dropped about one basis point to -0.47%.

-        Britain's 10-year yield had increased two basis points to 0.236%.

Commodities

-        Gold dipped big time losing about 68.84 points or 3.55% to $1,936.45 an ounce.

-        Silver also is down by 1.07 points or 3.99% to $26.82 an ounce.

-        West Texas Intermediate crude is up with almost 0.1% to $42.93 per barrel.

-        Brent crude dropped around 0.2% to $45.37 per barrel.

Currencies

-        US Dollar Currency Index ended up a bit higher than yesterday at $92.71 per share.

-        The euro is down by 0.8% to $1.184.

-        The Japanese yen depreciated about 0.6% to 106.08 per dollar.

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