There is a mixed reaction in the major Asian markets in today’s trade. At the same time, on Thursday, due to the fear of recession, the US markets closed weak.
Stock Market Update Today: Global cues are looking weak for the domestic stock market. There is a mixed reaction in the major Asian markets in today’s trade. At the same time, on Thursday, due to the fear of recession, the US markets closed weak. On Thursday, Dow Jones went below the level of 30 thousand for the first time since January 2021. Investors fear that the US Fed’s aggressive approach to control inflation could lead to further recession. There was a weakness of 2.42 percent or 741.46 points in the Dow and it closed at the level of 29,927.07. The S&P 500 index was down 3.25 per cent and closed at 3,666.77. While the Nasdaq fell 4.08 percent and closed at the level of 10,646.10. Nasdaq touched its lowest level since September 2020.
There has been a slight softening in the prices of Brent crude in the international market, but it is trading around $ 119 per barrel. While US crude is close to $ 117 per barrel. The 10-year bond yield in the US is at 3.265 per cent, an 11-year high. Talking about Asian markets, SGX Nifty is up 0.41 percent, Nikkei 225 is showing weakness by 2.33 percent and Strait Times is showing weakness by 0.04 percent. Hangseng is up 0.99 percent, Taiwan Weighted is seeing 0.81 percent and Kospi is seeing 1.16 percent weakness. While the Shanghai Composite is seeing a gain of 0.30 percent.
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