Losses on Wall Street rip through Asian financial markets

11 Octobre, 2018, 20:36 | Auteur: Auguste Feret
  • Trump has frequently criticised the US central bank for gradually raising interest ratesMore

A stock market rout that started on Wall Street rolled through Asia on Thursday, driving China's benchmark to a four-year low and sending indexes in Japan, Korea, and Australia plunging.

The Shanghai Composite index plunged 5.2 per cent to its lowest level since November 2014 and Japan's Nikkei 225 fell by an unusually wide margin of nearly 4 per cent. Markets across Southeast Asia recorded similar declines. Markets across Southeast Asia recorded similar declines.

Meanwhile, strong economic data has led to a sell-off in U.S. Treasury bonds, which is fueling fears of even higher interest rates.

Earlier this week the International Monetary Fund cut its global economic growth forecasts for 2018 and 2019, saying that trade policy tensions and the imposition of import tariffs were taking a toll on commerce.

The US Federal Reserve recently raised short-term interest rates for the third time this year, with one more expected before the year ends.

On Wednesday, U.S. stocks slumped as concerns over rising interest rates and trade tensions caused a sell-off in technology and internet stocks.

Whether the lower reading will quell expectations the Federal Reserve will hike interest rates again in December remains to be seen, said Yousef Abbasi, global market strategist at INTL FCStone in NY.

"I think the Fed has gone insane", he charged.

"Equity markets were pulverized today", with investors in "full out retreat", analyst Stephen Innes of OANDA said in a commentary.

Wall Street's troubles caused turmoil in worldwide markets overnight.

Sentiment also has been dampened by the spreading US-Chinese tariff fight over Beijing's technology policy.

Adding to potential U.S.

Jamal Khashoggi: Turkey's Erdogan urges Saudi Arabia to release images
Erdogan told reporters on a flight back from Hungary that Turkey is anxious about the Khashoggi's disappearance. He also said the USA . was working "very closely" with Turkey , "and I think we'll get to the bottom of it".

Dow industrials sink 831 points as tech stocks plunge
Amazon has soared 50 percent this year, but its stock has fallen 14 percent from its all-time high in early September. Technology companies were among the losers, with the Nasdaq Composite dropping more than 2% to 7,575.34.

Hurricane Michael has arrived, and it's stronger than anyone expected
Meteorologists first got a sense something big could be happening by watching how Michael's eye changed shape. Footage shows other homes and cars submerged in flood waters as the hurricane battered the Sunshine State.

Tokyo's Nikkei 225 gave up 3.9% to 22,591.10 and the Shanghai Composite lost 4.3% to 2,607.44. Hong Kong's Hang Seng index shed 3.7 per cent to 25,220.67.

MSCI's gauge of stock performance in 47 countries.MIWD00000PUS fell 2.2 percent, the pan-European FTSEurofirst 300 index .FTEU3 of leading regional share lost 2.1 percent. Australia's S&P/ASX 200 slipped 2.4 per cent to 5,906.00.

Among the biggest sectoral fallers were oil stocks .SXEP , down 2.3 percent, as oil fell to two-week lows, while banks .SX7P fell 1.9 percent. -China tensions, the Justice Department announced Wednesday it arrested an official of China's Ministry of State Security on charges of trying to steal trade secrets from US aerospace companies.

The Dow Jones Industrial Average lost 101 points, or 0.4 percent, to 25,497. The Nasdaq composite, which has a large contingent of technology stocks, was 4.1 percent lower at 7,422.05. Britain's FTSE 100 tumbled 1.9 percent to 7,011. The Russell 2000 index of smaller-company stocks shed 2.9 percent, to 1,575.41.

Snapchat's parent company Snap fell 5.9pc to a new all-time low and Amazon, Apple, Alphabet and Facebook all dropped by between 4.6pc and 6.5pc.

Francis Tan, an investment strategist at UOB private bank, believes the markets will likely pick up in the USA session.

"The valuation of US stocks, especially tech stocks, is still pretty high and there could be some profit taking actions now", Tan explained.

The dollar slipped to 112.17 Japanese yen from 112.27 yen late on Wednesday.

The euro pushed up to $1.1565 and away from a low of $1.1429 early in the week.

Oil futures fell. USA crude gave up 1.27 dollars to 71.90 dollars a barrel.

A television screen on the trading floor of the New York Stock Exchange shows the plunging numbers for the Dow Jones industrial average, March 22, 2018, as investors feared trade tensions will spike between the US and China.

Conseillé:



Populaire

Un chanteur anglais annule sa venue dans Quotidien à cause d'Alison Wheeler
L'équipe de Quotidien n'a pas respecté mon avis concernant la blague de mauvais goût sur le KKK. Clairement, je ne suis pas assez bien pour eux.

Tanushree Dutta lodges FIR against Nana Patekar and three others in Mumbai
Dutta had sought the Commission's intervention after claiming that Patekar allegedly misbehaved with her on the sets of a film in 2008.

Channing Tatum 'Dating' Jessie J Following Split From Jenna Dewan
BBC Radio 1 DJ Clara Amfo was among those commenting on the unlikely relationship on Twitter . Additionally, an insider told People on Tuesday that their relationship is "very new".

Un corps retrouvé dans une voiture dans la mer
Alors que les inondations dans le Var ont fait leur première victime, les recherches se poursuivent dans le département. Deux corps sans vie ont été retrouvés par les pompiers-plongeurs dans un véhicule, immergé à l'embouchure du fleuve.

En garde à vue pour des couvercles : Ikea s'excuse, pas la police
Qu'à cela ne tienne, la sécurité du magasin a considéré qu'Emilie et son père tentaient de dérober... quatre tupperwares en verre. L'histoire fait le tour de la toile. "Nous nous engageons à retirer notre plainte et nous présentons nos excuses".

Arnold Schwarzenegger apologizes for past behavior towards women
And to those critics who are so pessimistic about our economy, I say: Don't be economic girly men", he'd proclaimed. The woman I was originally most in love with was my mother. "I always had respect for women".

Google reveals promotional videos for its new line of products for 2018
The new large-sized displays and other features of the smartphones are definitely the aspects that will draw maximum attention. Because of that, the focus of the Pixel 3 reveal was on the new features primarily, specifically those related to the camera .

Un atterrissage d’urgence pour la capsule habitée Soyouz
Le décollage s'est bien passé mais "après la séparation du premier étage, on a eu l'impression qu'il y avait une sorte de flash" . Depuis 2011, la Nasa est contrainte d'acheter des places à bord des Soyouz pour envoyer ses astronautes sur l'ISS.

Missing Saudi journalist's fiancee asks for Trump's help
The officials spoke on condition of anonymity because they were not authorised to talk to reporters about the subject. Secretary of State Mike Pompeo acknowledged the conflicting reports about the safety and whereabouts of Khashoggi.

UK: Woman who spent $21m at luxury Harrods store fights wealth order
UWOs, which came into effect earlier this year, have been dubbed "McMafia" powers following the popular BBC global crime drama. Zamira Hajiyeva, wife of a jailed Azerbaijani banker, has been named after losing a High Court battle to remain anonymous.