Todays Stock Market: Global Stocks Further Decline
TODAYS STOCK MARKET – On Monday, the global stocks extended its losses. It is along with the slump of US equity futures and Asian shares. This was amid the emerging concerns on growth slowdown and worries on the escalating US-China trade tensions. The two said concerns could jeopardize the expected trade deal between the two countries.
Meanwhile, there was a 0.7% decline in Britain’s FTSE. Further, there are expectations that spreadbetters will follow next to the 1.1% decrease in Germany’s DAX and the 1% drop of France’s CAC.
Back from the weekend, traders were ready to face escalating worries to the growth slowdown of the United States and China. These two world’s largest economies reported a weaker-than-expected data which directed towards moderation in activity.
Moreover, investors have turned their focus to a Tuesday vote regarding the European Union divorce deal of British Prime Minister Theresa May. However, the parliament is confident that they will reject this deal. Consequently, this has escalated fears of a chaotic exit in March.
There was a 0.7% decline both seen in the S&P futures and Dow futures. This decline inflicted more pressure on US stocks amid the continuous dump of investors to riskier assets.
Meanwhile, Asia-Pacific shares’ MSCI’s broadest index outside Japan slumped 1.5% to an almost low for three weeks.
There was a 0.6% recovery in the Shanghai Composite Index. Australian stocks made a 2.2% loss and South Korea’s KOSPI decreased 1%. The Nikkei of Japan shed 2.1%. The session’s initial data revealed that the economy contracted the most in over four years in the third quarter. This was amid the trimming of companies of their capital spending due to the uncertainties over the worsening trade conflicts and global demand.
Todays Stock Market: Australia stocks reach lower at trade close
On Monday, Australia stocks recorded lower following the trade close on Monday. This was amid the losses in sectors such as IT, Healthcare and Financials that dragged the shares lower.
Moreover, there was a 2.27% drop in the S&P/ASX 200, hitting a 52-week low at Sydney close.
During the session, the best performers were Regis Resources Ltd, Sandfire Resources NL, and Northern Star Resources Ltd. Regis Resources Ltd increased 5.45% or 0.230 points to end at 4.450. On one hand, Sandfire Resources NL gained 3.01% or 0.190 points to trade at 6.510 at the close. Northern Star Resources Ltd, on the other hand, increased by 2.68% or 0.220 points to 8.420 in late trade.
Meanwhile, the worst performers were Automotive Group Holdings Ltd, Seven West Media Ltd, and Adelaide Brighton Ltd.
The S&P/ASX 200 VIX surged 19.44% to 19.984, hitting a new high for a month.