Global markets fall on Tuesday

by | 30 Jan, 2018

Nordstrom Kohl's Target Macys

Top indices are dropping

World markets fell today following a disappointing performance on Wall Street last night, where the S&P500 and Dow Jones both closed 0.7 per cent lower despite finishing at record highs last Friday.

An international sell-off in government bond markets is having an impact on equity indices, which are heading downwards as bond yields in the U.S. and Germany traded below yesterday’s levels.

U.S stock futures are also lower ahead of the State of the Union address this evening from President Trump.

In Asia the Nikkei 225 nursed the heavy losses, down 1.43 per cent or 337 points, while the NIFTY50 lost 70 points and the KOSPI shed 30 points alongside other falling indices in China, Hong Kong and Australia. The TOPIX index in Japan lost 1.2 per cent – its biggest fall this year.

In Europe the picture was similar. The FTSE100 was down 40 points, the DAX by 65 points, the CAC40 by 18 points and the FTSE MIB down 115 points at the time of writing.

Brent Crude oil also faltered somewhat, pulling back to $69.31 despite having peaked above $71.23 last Wednesday. Gold was an upward mover however, touching highs above $1,344.39 per ounce.

Despite today’s dips, the flurry of earnings releases on Wall Street continues. Key American indices will see fresh results from many important constituents (stocks in the index) this week. Over 100 S&P500 companies will be releasing results including tech heavyweights like Google, Facebook and Apple, so keep an eye on your calendar in the app!

Related: Hot stocks to watch for 2018

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