Asian markets fell the most in seven weeks as internet equities collapsed and a high yen forced Japanese stocks down. Companies like Panasonic fell on lower export revenue as a result of the yen’s new found strength. Also putting downward pressure on Pacific rim markets was profit taking by investors who wanted to take advantage of recent gains. At the end of the session, the Nikkei was down 2.93%, the Hang Seng was down 1.05%, and the ASX 200 was 0.83%.
European markets have fared a little better than their Asian counterparts. Though earnings data from Fiat to Societe Generale were worse than expected, other firms like Credit Agricole saw profit surge. Also note that the market is beginning to come to grips with prolonged unrest in the Ukraine, as today’s tension did little to move equities. Consequently, European indices did not move to much in either direction. The Stoxx 50 closed up 0.31%, the FTSE closed 0.03%, and the DAX closed up 0.57%.
American markets have taken a substantial hit due to a sell off in tech stocks and statements by federal reserve Chairwoman Janet Yellen. Though she highlighted the importance of spurring economic growth, Yellen noted that the tapering of the stimulus would proceed as planned. Investors took this in a somewhat negative manner, as they felt her words conveyed a little uncertainty about the market without proposing any clear steps the Fed may take to rectify the situation. Now, the Dow is down 0.89%, the S&P 500 is down 0.95%, and the Nasdaq is down 0.66%.
May 7, 2014 – Indices News
Asian markets fell the most in seven weeks as internet equities collapsed and a high yen forced Japanese stocks down. Companies like Panasonic fell on lower export revenue as a result of the yen’s new found strength. Also putting downward pressure on Pacific rim markets was profit taking by investors who wanted to take advantage of recent gains. At the end of the session, the Nikkei was down 2.93%, the Hang Seng was down 1.05%, and the ASX 200 was 0.83%.
European markets have fared a little better than their Asian counterparts. Though earnings data from Fiat to Societe Generale were worse than expected, other firms like Credit Agricole saw profit surge. Also note that the market is beginning to come to grips with prolonged unrest in the Ukraine, as today’s tension did little to move equities. Consequently, European indices did not move to much in either direction. The Stoxx 50 closed up 0.31%, the FTSE closed 0.03%, and the DAX closed up 0.57%.
American markets have taken a substantial hit due to a sell off in tech stocks and statements by federal reserve Chairwoman Janet Yellen. Though she highlighted the importance of spurring economic growth, Yellen noted that the tapering of the stimulus would proceed as planned. Investors took this in a somewhat negative manner, as they felt her words conveyed a little uncertainty about the market without proposing any clear steps the Fed may take to rectify the situation. Now, the Dow is down 0.89%, the S&P 500 is down 0.95%, and the Nasdaq is down 0.66%.
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