The US authorities filed a lawsuit against Facebook - what are the implications?
Wall Street sinks after Trump threatens to slap extra duties on Chinese products
On Friday, the S&P 500 along with the Dow Industrials reversed course to edge down, while the Nasdaq gave up nearly all profits after US leader told that fresh duties are ready to impact $267 billion worth of China’s goods.
Trump's latest threat in the trade clash has showed up, as the world is waiting his decision on slapping duties on $200 billion worth of China’s products.
Japan and America have started trade talks.
8 of the 11 key S&P sectors decreased. The industrial index went down by 0.65%, with equities of trade-sensitive firms Boeing as well as Caterpillar slipping by respectively 1.6% and 0.9%. Moreover, the S&P materials index headed south by 0.84%.
On Friday, American equities have had a bit of a roller-coaster, slumping at the start after the firm August jobs reports provoked rate-lift worries, before Kudlow's remarks soothed traders.
ET the Dow Jones Industrial Average slumped by 0.51% hitting 25,862.04. Besides this, the S&P 500 inched down by nearly 0.21% showing 2,871.96, while the Nasdaq Composite rallied by 0.03% demonstrating an outcome of 7,924.98.
Besides this, the defensive real estate index went down by 1.11%, which is the most impressive outcome amidst sectors. As for utilities, they went down by 0.93%.
Moreover, the technology index that was leading the markets up before reversed course to sink by 0.04%. As for the Philadelphia SE Semiconductor index, it gave up profits, standing still.
Chipmaker Broadcom managed to ascend by up to 6.7% after a strong current-quarter profit estimate.
In addition to this, Tesla declined by 6.4% reacting to the latest top management exits as well as mounting investor fears as for Chief Executive Elon Musk's outrageous behavior.
The S&P index posted 36 fresh 52-week maximums.
Russian media companies are complaining that Youtube and Facebook block them. So sad. Now, what about the stock price?
Have you seen the Tesla stock price? But it has already dropped from that high... will it move up again?
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.