Stock prices fell on Wall Street on Tuesday, mostly on concerns about higher yields on US Treasury bonds, dampening investors’ willingness to continue buying stocks. Stock prices rose on European and Asian stock exchanges.
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The Wall Street index “Nasdaq Composite” increased by 0.1%, while the indexes “Dow Jones Industrial Average” and “Standard & Poor’s 500” decreased.
Steve Sosnick, strategist at Interactive Brokers, said Monday’s rally in US technology stocks was “excessive” amid rising bond yields.
Markets await Friday’s speech by US Federal Reserve Chairman Jerome Powell, which may provide clues about the Fed’s future monetary policy.
Market participants are also worried about a slowdown in China’s economic growth, which has failed to be alleviated by a further cut in China’s interest rates. Concerns are also compounded by problems in China’s real estate sector.
The Dow Jones Industrial Average fell 0.5% to 34,288.83 on Tuesday, the Standard & Poor’s 500 lost 0.3% to 4,387.55, while the Nasdaq Composite gained 0.1% to 13,505.87 points.
London’s FTSE 100 rose 0.2% to 7,270.76 on Tuesday, Frankfurt’s DAX rose 0.7% to 15,705.62, and Paris’ CAC 40 gained 0.6% to 7,240. 88 points.
WTI crude oil fell 0.3% to $80.35 a barrel in electronic trading on the New York Stock Exchange on Tuesday. “Brent” crude oil price on the London exchange decreased by 0.5% to 84.03 dollars per barrel.
On the Dutch exchange “Title Transfer Facility” (TTF), the price of natural gas rose by 5.21% to 42.91 euros per megawatt hour on Tuesday.
The euro fell from $1.0896 to $1.0851 per euro on Tuesday, the British pound fell from $1.2756 to $1.2729 per pound, and the US dollar against the Japanese yen eased from 146.22 to 145.85 yen per dollar. The euro fell against the British pound from 85.41 to 85.16 pence per euro.
2023-08-23 04:04:33
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