alexa certify
0

Stocks Around the World on October 4-5

Stocks in Asia-Pacific largely declined on October 5 following overnight losses on Wall Street, with the tech-heavy Nasdaq Composite falling more than 2%.

In Japan, the Nikkei 225 fell 2.19% to end its trading day at 27,822.12, as shares of Fast Retailing dropped 6.92%. The Topix index also fell 1.33% to close at 1,947.75. Earlier, Japan’s Nikkei 225 fell more than 3% and briefly entered correction territory, declining more than 10% off its mid-September high.

In South Korea, the Kospi dropped 1.88% to finish its trading day at 2,962.17. 

Hong Kong’s Hang Seng index defied the overall trend regionally as it rose around 0.5%, as of its final hour of trading. 

In Australia, the S&P/ASX 200 dropped 0.41% to 7,248.40. On October 5, the country’s central bank announced its decision to leave interest rates unchanged. 

Markets in mainland China are still closed for the holidays. 

 

U.S. stocks on October 4 

On October 4, the Dow Jones Industrial Average dropped 323.54 points to close at 34,002.92, despite large gains in Merck. The S&P 500 declined 1.3% to 4,300.96. The Nasdaq Composite fell 2.1% to 14,255.48.

Shares of large tech companies like Apple, Nvidia, Amazon,  Microsoft, were lower on October 4 as investors eyed bond yields. 

Facebook suffered losses on Monday. It lost 4.9% after being accused of “betrayal of democracy” by whistleblower Frances Haugen.

On the contrary, Tesla gained 0.8% after the company said this weekend that it delivered 241,300 electric vehicles during the third quarter. 

Shares of Merck rose 2.1%, following through on an 8% surge on October 1. The company’s shares jumped on October 1, after the drug maker said its antiviral treatment developed with Ridgeback Biotherapeutics for Covid-19 reduced the risk of hospitalization or death by 50% for patients with mild or moderate cases.

Shares of Southwest rose 1.3% after an upgrade to overweight from the equal weight from Barclays. 

Energy stocks also rose on October 4 amid an uptick in oil prices. ConocoPhillips gained 2% and Exxon Mobil added 1.3%. 

The last quarter of the year is typically a good period for stocks. But overhangs like the central bank’s decision, the debt ceiling, China Evergrande Group, and Covid-19 could keep investors cautious. Heading into the last quarter of 2021, more than half of all S&P 500 stocks are off at least 10%.

  • Support
  • Platform
  • Spread
  • Trading Instrument
Comments Rating 0 (0 reviews)

Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. If you are interested in following the latest news on the topic, please follow Finance Brokerage on Google News.



You might also like

Leave a Reply

User Review
  • Support
    Sending
  • Platform
    Sending
  • Spread
    Sending
  • Trading Instrument
    Sending

Financebrokerage