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Investam-HK: Tech shares fall anew deleting earnings from earlier gains, stocks declined
Stocks slumped just as everyone thought it has already recovered. However, pressure in tech stocks arise and dragged down the rest of the market.
By: Investam HK Limited
Netflix together with Amazon and Apple all fell about 4% which led 'FAANGM' a group of tech stocks lower. Facebook and Alphabet both slid around 2.3% and 3.5%, respectively.
S&P 500 ended up near its threshold which investors assume as a correction, while Nasdaq is back to 10k price range erasing most its earnings for the past two months.
Here are the main movements in the Global Stocks Market this Wednesday;
- The Dow Jones Industrial Average dipped about 525.05 points or 1.9% to 26,76.13. Its lowest record yet from August rate.
- Nasdaq Composite fell big time with 3.02% loss or 330.65 points decreased or 10,632.99. Deleting most of its earnings since July.
- The Stoxx Europe 600 Index appreciates about 0.6%.
- The MSCI Asia Pacific Index slid a few points or about 0.2%.
- The yield on the benchmark 10-year Treasury note increased about one basis point at 0.6782%
- The yield on the 30-year Treasury bond also gained just about the same to 1.4304%.
- Germany's 10-year yield has no visible change at -0.51%.
- Britain's 10-year yield is up around two basis points to 0.218%.
- Gold continues to fall and had decreased again for about 38.68 points or 2.08% lower to $1,861.90 an ounce.
- Silver is down just as the same and is 7.38% lower to $22.68 an ounce.
- West Texas Intermediate crude rose less than 1% to $39.93 per barrel.
- Brent crude has also increased about 12% to $41.77 per barrel.
- US Dollar Currency Index went up a bit with 0.03% increased to 94.25 per dollar.
- The euro slid about 0.4% to $1.1659.
- The Japanese yen decreased around 0.4% to 105.40 per dollar.
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