Asia Stock Drop: Important Stock Market Updates Around The World
- Stocks
Yaseer Rashid- 0
- 7 minutes read
The future of the US rose with the stocks of Europe as positive earnings escalated sentiments, while there was an Asia stock drop, amid the high market turbulence in China. All the treasuries fell ahead of the rate decision of the Federal Reserve. Let us look at some stock market news and also let us know about the US stock market today.
There was a rise in the contracts on the S&P 500 and the Nasdaq 100 Index, with Microsoft Corp. and Alphabet Inc. gaining in premarket after their sales climbed the estimates. Apple Inc. decreased by 0.9% on issues over slower growth. European shares increased, boosted by Barclays Plc and the owner of Gucci, Kering SA after their results, while this Asia stock drop was the lowest this year.
Strong earnings are allowing market enthusiasts to keep at bay, after this week’s selloff at China, added to the worries of the investor about the issue of global growth from the delta variant and the need for tighter policy. Treasuries dropped, reversing all the earlier gains, ahead of today’s Fed decision, at which it is expected that the officials will discuss how and when to taper stimulus. According to a chief market analyst at a financial firm,
“Investors appear to be grappling with the diverging risks of a slowing of the global economy, due to rising infection rates, against the risks of rising prices. While the Fed meeting is unlikely to change the overall narrative when it comes to the timing of a taper, it may offer an insight into whether the recent hawkishness from Fed officials such as Raphael Bostic and James Bullard is beginning to spread to other members.”
On the other hand, the crude oil of West Texas Intermediate was trading above $72 every barrel and Bitcoin again increased above $40,000, continuing a recent recovery.
In China, equities flapped between losses and gains despite the effort of the state media to reassure investors about the regulatory crackdown of the country. The Hang Seng Bank Index turned around losses after being on the edge of a bear market.
Let us look at some of the key events of the week:
- Amazon, Facebook report earnings this week
- Federal Reserve policy meeting ends on Wednesday
- U.S. GDP data is due on Thursday.
And here are the main moves in the market:
Stocks
- The Stoxx Europe 600 rose 0.4% as of 10:13 a.m. according to the London time
- Futures on the S&P 500 increased by 0.2%
- Futures on the Nasdaq 100 increased by 0.3%
- Futures on the Dow Jones Industrial Average were changed to some extent
- The MSCI Asia Pacific Index decreased by 0.2%
- The MSCI Emerging Markets Index increased by 0.6%
Currencies
- The Bloomberg Dollar Spot Index was changed a little
- The euro was little altered at $1.1823
- The Japanese yen decreased by 0.2% to 109.95 per dollar
- The offshore yuan increased by 0.3% to 6.5065 per dollar
- The British pound was changed a little at $1.3887
Bonds
- The yield on 10-year Treasuries increased two basis points to 1.26%
- Germany’s 10-year yield was little altered at -0.44%
- Britain’s 10-year yield was little altered at 0.57%
Commodities
- Brent crude increased by 1% to $75.21 a barrel
- Spot gold increased by 0.1% to $1,801.56 an ounce.
Conclusion
This year Asia stock drop to its lowest. The stocks on Tuesday on the 3rd straight session of selling the internet giants of China the real bond yield decreased and the decrease is record low ahead of the policy meeting of the Federal Reserve.
