On Friday, Wall Street's key indexes were braced for reporting their biggest weekly profits for a month because traders were quite optimistic about the everlasting trade negotiations to tackle a bruising tariff clash between China and America…
US equities slip
On Wednesday, American equities generally declined because market participants dumped high-surge names, including FAANG and technology equities, with soaring Treasury gains as well as trade-related fears affecting their risk appetite.
As a matter of fact, the S&P 500 and the Dow Jones Industrial Average slipped about 1.5%. Besides this, the Nasdaq dived 2%, thus drifting away from its 7.1% jump.
The rebound on Wall Street was led by technology equities that sank by 2.33% as well as the trade-sensitive industrial shares, which went down by 2.22%.
Along with tech equities, Amazon, Apple, Alphabet, Facebook and Netflix have led the market soar.
The Dow dipped by 1.5%, the S&P lost 1.94%, while the Nasdaq decreased by 2.32%.
Besides this, the Russell 2000 index declined by 1.18%.
As for the CBOE Volatility Index, it managed to gain 3.18%, thus demonstrating its highest value since June 25.
The top performers in the sea of red were represented by defensive utilities as well as consumer staples.
The weakness in tech sector was led by semiconductor companies right after Swiss vacuum valve manufacturer VAT Group told that demand from chip equipment producers receded.
The Philadelphia Semiconductor index headed south by 2.64%. Moreover, Intel sank 2%, while Nvidia inched down by 4.7%.
Financial analysts find it a good storm for the tech sector, with the tariff clash with China as well as weaker demand for processors.
Luxury equities appeared to be another casualty of fears of decelerating China demand, provoked by LVMH's outcomes. Jeweler Tiffany, Tapestry and Michael Kors went down 4.9%-7.2%.
Furthermore, Sears Holdings dived by 33.3%.
On the NYSE, slumping issues outclassed advancers for a 3.42-to-1 ratio as well as a 2.46-to-1 ratio on the Nasdaq.
Besides this, the S&P index hit 12 fresh 52-week maximums and also 39 fresh dips, while the Nasdaq boasted up to 9 fresh peaks as well as 167 new dives.
On Thursday, Wall Street shrugged off early losses because a sudden dive in retail sales affected investor hopes for progress at the everlasting US-China trade negotiations in Beijing…
On Wednesday, European equities went up because upbeat mood about Washington and Beijing trade negotiations backed global markets, while data revealed that earnings surge estimates for the European Union are stabilizing after abrupt downward revisions…
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…