U.S. stocks declined strongly with trading volume much higher than usual. The S&P 500 dropped 2% and the Nasdaq lost 2.09%. The Dow Jones erased its yearly gains by dropping 1.88%, experiencing its largest one-day retreat since the 3rd of February . The bearish sentiment was triggered by poor earnings result from Exxon but also by mixed data from the U.S. Initial jobless claims rose less than expected and the Chicago PMI dropped at its highest rate since 2008. However, GDP was much stronger and speculation is ripe that interested rates will be raised sooner than expected. Asian stocks declined as they followed the sentiment of U.S. markets. The Nikkei dropped 0.63% as Samsung Electronics Co. fell 3.4%. Despite positive Chinese manufacturing PMI, the Hang Seng lost 0.81%, its first loss in 8 sessions.
European markets are lower as investors are hesitant ahead of the NFP release at 2.30 pm GMT. Currently, shares in Germany are off as the DAX drops 0.41%. The FTSE 100 is down 0.25% while the CAC 40 in France is unchanged.
August 1, 2014 – Indices News
U.S. stocks declined strongly with trading volume much higher than usual. The S&P 500 dropped 2% and the Nasdaq lost 2.09%. The Dow Jones erased its yearly gains by dropping 1.88%, experiencing its largest one-day retreat since the 3rd of February . The bearish sentiment was triggered by poor earnings result from Exxon but also by mixed data from the U.S. Initial jobless claims rose less than expected and the Chicago PMI dropped at its highest rate since 2008. However, GDP was much stronger and speculation is ripe that interested rates will be raised sooner than expected.
Asian stocks declined as they followed the sentiment of U.S. markets. The Nikkei dropped 0.63% as Samsung Electronics Co. fell 3.4%. Despite positive Chinese manufacturing PMI, the Hang Seng lost 0.81%, its first loss in 8 sessions.
European markets are lower as investors are hesitant ahead of the NFP release at 2.30 pm GMT. Currently, shares in Germany are off as the DAX drops 0.41%. The FTSE 100 is down 0.25% while the CAC 40 in France is unchanged.
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