During today's Turkish central bank meeting, the market anticipated a rate cut between 200-300 pips.
Wall Street dives due to the tech sector amid worries of a trade war
On Tuesday, the American stock market inched down following Monday’s session because market participants sold the shares of the technology sector amid rekindled concerns of a trade war.
At the same time, the major indices traded below their 200-day moving averages, and the S & P 500 index concluded below this key technical level for the first time since the referendum in the United Kingdom as for withdrawal from the European Union in June 2016.
The first trading day of the second quarter started with a general sale, concentrated in the shares of technology companies as well as enterprises of the secondary goods and services sector.
Microsoft, Tesla and Amazon were affected by China's retaliatory trading measures, uncovered on Sunday.
At the close of the New York Stock Exchange, the Dow Jones index headed south 1.9% hitting 23,644.19, the S & P 500 index sank 2.23% being worth 2,581.88, while the Nasdaq Composite index inched down 2.74%, showing 6.870.
Equities of Amazon.com put the greatest pressure on the S & P 500, diving 5.2% because of onlging attacks by Donald Trump on the online retailer.
All 11 main industry indices of the S & P 500 completed trades in negative territory, with the largest losses incurred by the index of the sector of minor goods and services as well as the technological sector, sagging by respectively 2.8% and 2.5%.
Pressure on Nasdaq was provided by shares of Microsoft, Intel, Apple Inc, Facebook and also Alphabet .
Tesla Inc's equities concluded down 5.1%after the company posted output of 2,000 Model 3 cars a week, which is below the objective of 2,500 vehicles. Equities of the insurance company Humana Inc managed to ascend 4.4% on news that it’s currently negotiating with Walmart to expand the partnership or a probable purchase by its retailer.
More tariffs were introduced
Yesterday, the US Justice Department announced a broad antitrust review ...
We've got some positive news for the British pound and we are awaiting the release of the core retail sales for Canada at 15:30 MT.
The tweet by Iran's foreign minister increased the possibility of tensions in the region. It pushed the oil prices up.
The European trading session will be highlighted by the events for the British pound. Traders will pay special attention to the BOE meeting at 14:00 MT.