• Write for Us
  • Advertise
  • About
  • Contact
Tuesday, October 3, 2023
British Herald
Advertisement
  • Home
  • World
    • UK
    • Europe
    • Asia
    • Africa
    • Oceania
    • USA
    • Middle East
    • Latin America
  • Politics
  • Business
    • ECONOMY
    • Financial Markets
    • Companies
  • Sport
  • Fintech
  • Videos
  • BH Magazine
  • More
    • Health
    • Entertainment
    • Science & Technology
    • Climate & Environment
    • Sustainability
    • Food and Travel
    • Fashion
    • Culture and Lifestyle
    • Articles
    • Opinion
No Result
View All Result
British Herald
  • Home
  • World
    • UK
    • Europe
    • Asia
    • Africa
    • Oceania
    • USA
    • Middle East
    • Latin America
  • Politics
  • Business
    • ECONOMY
    • Financial Markets
    • Companies
  • Sport
  • Fintech
  • Videos
  • BH Magazine
  • More
    • Health
    • Entertainment
    • Science & Technology
    • Climate & Environment
    • Sustainability
    • Food and Travel
    • Fashion
    • Culture and Lifestyle
    • Articles
    • Opinion
No Result
View All Result
British Herald
Home Finance

Stock markets slide on tech sell-off, dollar sags

Editorial Bureau by Editorial Bureau
November 20, 2018
0
Stock markets slide on tech sell-off, dollar sags

A man looks at an electronic stock quotation board showing Japan's Nikkei average outside a brokerage in Tokyo, Japan, November 13, 2018. REUTERS/Toru Hanai

74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

TOKYO (Reuters) – Asian stock markets skidded on Tuesday and Europe was expected to follow, pressured by sharp losses on Wall Street as technology firms tumbled on worries about slackening demand.

You might also like

Pickering Energy Partners launches oil and gas investment banking unit

Cryptoassets increase risk in developing economies, study says

Nobel Laureate Paul Krugman Says US Dollar Dominance Won’t Last Forever

The dollar sagged after weak U.S. data further sapped confidence in the currency, while oil prices slipped despite expected OPEC supply cuts.

Spreadbetters expected European stocks to open lower, with Britain’s FTSE  falling 0.1 percent, Germany’s DAX losing 0.5 percent and France’s CAC dipping 0.3 percent. U.S. S&P mini futures  were down 0.3 percent.

MSCI’s broadest index of Asia-Pacific shares outside Japan  dropped 1.2 percent.

Tech stocks were under pressure across Asia following U.S. losses. In Seoul, Samsung Electronics  fell 2 percent and SK Hynix Inc dropped 3.5 percent, while Japan’s Tokyo Electron was down 1.8 percent, Advantest  lost 2.7 percent and Sony Corp  shed 3.1 percent.

U.S. stocks came under heavy selling on Monday, with Nasdaq  tumbling 3 percent, as investors dumped Apple , internet and other technology shares. Conflicting signals between the United States and China on their trade dispute added to caution. [.N]

“The drop by U.S. stocks will cut short any attempt by equity markets to mount a sustained bounce. Investor sentiment has been subdued by lingering weakness in U.S. technology shares,” said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management in Tokyo.

Japan’s Nikkei slipped 1.1 percent, with shares of Nissan Motor Co  tumbling than 5 percent after its Chairman Carlos Ghosn was arrested on Monday for alleged financial misconduct. He will be fired from the board this week.

“This incident will make investors review if Japanese corporate governance is working,” said Toru Ibayashi, executive director of Wealth Management at UBS Securities Japan.Elsewhere in Asia, the Shanghai Composite Index retreated 1.7 percent, Australian stocks  lost 0.4 percent and tech-heavy South Korean shares  dropped 1 percent.

Global stock markets have suffered a sharp shakeout in the past two months, pressured by worries of a peak in corporate earnings growth, rising borrowing costs, slowing global economic momentum and international trade tensions. Trillions of dollars were wiped off equities in a particularly torrid October month.

In currencies, the dollar struggled at a near two-week low against a basket of currencies.

Data released on Monday showed U.S. home builder sentiment recorded its steepest one-month drop in over 4-1/2 years in November.

The dollar had also been weighed down after Fed Vice Chair Richard Clarida and Dallas Fed President Robert Kaplan late last week raised concerns over a potential global slowdown.

The U.S. currency has rallied strongly this year, buoyed by three Fed rate hikes and a robust economy, though some expect the bull run may be nearing an end.

With long-term U.S. Treasury yields slipping to a seven-week low of 3.052 percent  in the wake of weaker stocks and U.S. housing data, the dollar index against a basket of six major currencies  hovered near 96.120, an 11-day low plumbed on Monday.

The euro was little changed at $1.1450  after gaining 0.35 percent overnight.

The dollar slipped to a three-week low of 112.40 yen  and last traded at 112.55.

The Australian dollar, sensitive to shifts in risk sentiment, extended the previous day’s retreat, slipping 0.3 percent to $0.7274 .

Oil prices lost steam as fears about slower global demand and a surge in U.S. production outweighed expected supply cuts by the Organization of the Petroleum Exporting Countries (OPEC). [O/R]

U.S. crude futures were down 0.4 percent at $56.98 per barrel and Brent  slipped 0.6 percent to $66.40 per barrel. [O/R]

(Additional reporting by Ayai Tomisawa in Tokyo; Editing by Shri Navaratnam and Kim Coghill)

Share30Tweet19
Editorial Bureau

Editorial Bureau

Recommended For You

Pickering Energy Partners launches oil and gas investment banking unit

September 1, 2023
Pickering Energy Partners

Pickering Energy Partners (PEP) announced the launch of a financial advisory unit for oil and gas dealmaking, signaling a renewed commitment to traditional fossil fuels. This move comes...

Read more

Cryptoassets increase risk in developing economies, study says

August 23, 2023
Cryptoassets

The Bank for International Settlements has published a paper that declares cryptoassets , promoted as the future of finance, have not lived up to their promises and are...

Read more

Nobel Laureate Paul Krugman Says US Dollar Dominance Won’t Last Forever

July 19, 2023
Paul Krugman

Nobel laureate Paul Krugman recently wrote an opinion piece in The New York Times where he discussed the dominance of the U.S. dollar and the possibility of the...

Read more

Satya Nadella : Microsoft’s goal is to reach $500 billion in sales by 2030

June 27, 2023
Satya Nadella

Microsoft's CEO, Satya Nadella, informed his staff and the board that the company expected to generate $500 billion in revenue by the 2030 fiscal year. It intends to...

Read more

EDX Markets takes FinTech world by storm with successful funding round

June 23, 2023
EDX Markets

EDX Markets , the trailblazer in offering secure and regulatory-compliant digital asset trading facilitated by trusted intermediaries, has made waves today as it announces the launch and completion...

Read more
No Result
View All Result
Donald Trump

Donald Trump attacks New York court for fraud trial that threatens his business career

October 3, 2023
Uk gurudwara

UK : After Glasgow Gurudwara Incident, Indian National Attacked By Pro-Khalistan Elements

October 2, 2023
SlovakiaElection

Slovakia election : pro-Moscow former PM on course to win with almost all votes counted

October 1, 2023

Tags

australia boris johnson brexit britain British Herald CHINA Coronavirus coronavirus outbreak COVID-19 COVID-19 Vaccine daily roundup Donald Trump Dubai expo 2020 england europe European Union facebook France germany Hong Kong india iran israel italy japan joe biden lockdown London News new zealand north korea politics Rishi Sunak russia south korea spain taiwan trending Trump turkey Twitter UK Ukraine usa worldnews
British Herald

Top News in World: Read Latest News on Sports, Business, Entertainment, Blogs and Opinions from leading columnists.

CATEGORIES

  • Africa
  • Articles
  • Asia
  • Brand Feature
  • Business
  • Climate & Environment
  • Companies
  • Crypto
  • Culture and Lifestyle
  • Daily Roundup
  • Economics
  • ECONOMY
  • Entertainment
  • Europe
  • Fashion
  • Finance
  • Financial Markets
  • Fintech
  • Health
  • IN UK 01
  • IN UK 02
  • Investing
  • Latin America
  • Market
  • Middle East
  • Oceania
  • Opinion
  • Pharma/BioTech
  • Politics
  • Reviews
  • Science & Technology
  • Sport
  • Sustainability
  • Tech
  • Technology
  • Travel
  • UK
  • Uncategorized
  • USA
  • Videos
  • World

BROWSE BY TAGS

australia boris johnson brexit britain British Herald CHINA Coronavirus coronavirus outbreak COVID-19 COVID-19 Vaccine daily roundup Donald Trump Dubai expo 2020 england europe European Union facebook France germany Hong Kong india iran israel italy japan joe biden lockdown London News new zealand north korea politics Rishi Sunak russia south korea spain taiwan trending Trump turkey Twitter UK Ukraine usa worldnews

Herald Media Network Limited (UK). 2023. ALL RIGHTS RESERVED.

No Result
View All Result
  • Home
  • World
    • UK
    • Europe
    • Asia
    • Africa
    • Oceania
    • USA
    • Middle East
    • Latin America
  • Politics
  • Business
    • ECONOMY
    • Financial Markets
    • Companies
  • Sport
  • Fintech
  • Videos
  • BH Magazine
  • More
    • Health
    • Entertainment
    • Science & Technology
    • Climate & Environment
    • Sustainability
    • Food and Travel
    • Fashion
    • Culture and Lifestyle
    • Articles
    • Opinion

Herald Media Network Limited (UK). 2023. ALL RIGHTS RESERVED.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Go to mobile version