Nasdaq drops 1.2% as US stocks fall: Market update

Posted 01 April, 2022

U.S. stocks closed lower on Wednesday as major benchmarks ended their latest winning streak.

The S&P 500 fell 0.63% while the Nasdaq fell 1.21% to close in the red amid further selling in tech stocks. The Dow Jones Industrial Average fell 0.19% as benchmarks ended a four-day winning streak that had stretched since Friday last week.

The decline in equities matches a largely choppy March, which was punctuated by uncertainty, fear, and concerns over Russia and Ukraine. Inflation and central bank monetary policies also played a role in investor sentiment.

Oil prices rose on Wednesday, for the first time this week. U.S. crude gained 3.01% to $107.38 a barrel while international benchmark Brent crude rose 2.9% to $113.35 a barrel.

Gold also posted small gains as stocks tumbled, with the precious metal helped by a weaker dollar. Falling risk sentiment sent spot gold up almost 1.2%, with the safe-haven asset trading at $1,939.50 an ounce at the close on Wednesday.

The dollar index eased to 97.83 against a basket of six major currencies, with the euro and pound firming slightly against the greenback. Meanwhile, the benchmark 10-year US Treasury yield fell 4.2 basis points to 2.358%.

In the crypto markets, Bitcoin (BTC) was slightly negative after testing highs above $48,000 during the week. BTC-USD was around $476,906 with a 24-hour loss of 0.4% late Wednesday, while Ethereum (ETH-USD) was trading around $3,379 with a 24-hour return of +0.6%.

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01 April, 2022 13:32

← Georg Fischer sells his shares in the American joint venture GF Linamar

By acquiring GF's 50% interest, Linamar will become the sole owner of the Mills River plant. Georg Fischer will continue to provide technical assistance during the transition period.

Georg Fischer sells his shares in the American joint venture GF Linamar

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31 March, 2022 15:21

Euro zone: inflation should stabilize around 2% in the medium term, according to the ECB →

At the same time, Eurostat announces an unemployment rate down 0.1 points to 6.8% in February, its lowest level ever.

 

Euro zone: inflation should stabilize around 2% in the medium term, according to the ECB
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