U.S. markets continued to fall as concerns regarding economic growth grew. Due to a lack of economic data, trading was mostly technical and indexes moved below key levels. For the first time in two years, the S&P 500 fell through its 200 day moving average and closed at 1,874.74, posting a decline of 1.65%. The Dow Jones lost 1.35% closing at 16,321.07. Technology stocks also joined the sell- off as sentiment dampened across markets. Apple lost 1% despite positive news that more Android users are switching to iPhones than when the iPhone 5 was released. Yahoo also received positive news as an analyst from BCG Capital upgraded their rating to ‘hold’. However, the stock still dropped 3%. Go Pro was the main mover for the day, losing 10%, after reports that Michael Schumacher’s injury was caused by a camera that was mounted onto his helmet.
Asian markets declined as Japan reopened after a holiday. The Nikkei lost 2.38% as traders quickly followed the negative global sentiment. The U.S. Dollar had also weakened strongly against the Yen, trading at ¥107.1 compared to ¥107.8 on Friday. Key exporters declined with Sony losing 3%. Motor shares were also hit as Toyota lost 3%, Nissan lost 3.4% and Suzuki fell 4.7%. The Hang Seng dropped 0.41% but erased some of its earlier losses due to gains in real estate shares. Gains were also seen as police cleared obstructions from protestors in the business district.
European markets are lower today. German ZEW Economic Sentiment came out much worse than expected, declining 3.6%, its lowest value since 2012. The DAX is currently 0.5% lower and the CAC 40 is 0.87% lower. The FTSE is down 0.58% as Burberry leads losses after losing 5.1% due to reports of declining sales in the second quarter. Mulberry is also dragging the index lower, dropping 23% as they expect profit to decline.
October 14, 2014 – Indices News
U.S. markets continued to fall as concerns regarding economic growth grew. Due to a lack of economic data, trading was mostly technical and indexes moved below key levels. For the first time in two years, the S&P 500 fell through its 200 day moving average and closed at 1,874.74, posting a decline of 1.65%. The Dow Jones lost 1.35% closing at 16,321.07. Technology stocks also joined the sell- off as sentiment dampened across markets. Apple lost 1% despite positive news that more Android users are switching to iPhones than when the iPhone 5 was released. Yahoo also received positive news as an analyst from BCG Capital upgraded their rating to ‘hold’. However, the stock still dropped 3%. Go Pro was the main mover for the day, losing 10%, after reports that Michael Schumacher’s injury was caused by a camera that was mounted onto his helmet.
Asian markets declined as Japan reopened after a holiday. The Nikkei lost 2.38% as traders quickly followed the negative global sentiment. The U.S. Dollar had also weakened strongly against the Yen, trading at ¥107.1 compared to ¥107.8 on Friday. Key exporters declined with Sony losing 3%. Motor shares were also hit as Toyota lost 3%, Nissan lost 3.4% and Suzuki fell 4.7%. The Hang Seng dropped 0.41% but erased some of its earlier losses due to gains in real estate shares. Gains were also seen as police cleared obstructions from protestors in the business district.
European markets are lower today. German ZEW Economic Sentiment came out much worse than expected, declining 3.6%, its lowest value since 2012. The DAX is currently 0.5% lower and the CAC 40 is 0.87% lower. The FTSE is down 0.58% as Burberry leads losses after losing 5.1% due to reports of declining sales in the second quarter. Mulberry is also dragging the index lower, dropping 23% as they expect profit to decline.
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