Dow Jones drops 191 points as Wall Street slides

NEW YORK, New York — U.S. stocks closed sharply lower Friday as inflation fears revived following Thursday’s PPI reading which mean the Federal Reserve may keep interest rates high for longer than previously expected. Investors and traders now believe an interest rate cut anticipated for mid-year may be put back.

Here’s a breakdown of the closing quotes:

S&P 500 (^GSPC):

The S&P 500 closed at 5,117.16, marking a decline of 33.32 points, or -0.65 percent.

Dow Jones Industrial Average (^DJI):

The Dow Jones Industrial Average ended the day at 38,714.77, down by 190.89 points, or -0.49 percent.

NASDAQ Composite (^IXIC):

The NASDAQ Composite saw a decrease, closing at 15,973.17, down by 155.36 points, or -0.96 percent.

The S&P 500, representing a broad gauge of the U.S. stock market, experienced a slight downturn, reflecting some investor caution. Similarly, the Dow Jones Industrial Average and the NASDAQ Composite both closed lower, reflecting broader market sentiment.

Mixed Movements in Friday’s World Foreign Exchange Market

In the world’s foreign exchange markets on Friday, currency traders experienced a day of mixed movements across major currency pairs. Economic data releases, central bank announcements, and geopolitical developments contributed to the fluctuating exchange rates.

The Euro gained slightly against the U.S. Dollar, with the EUR/USD pair recording a rate of 1.0888, marking an increase of 0.05 percent or 0.0005.

Meanwhile, the dollar strengthened against the Japanese Yen, as the USD/JPY pair saw a rise of 0.55 percent, reaching a rate of 149.10, reflecting a gain of 0.81.

Against the Canadian Dollar, the greenback also saw a slight increase, with the USD/CAD pair showing an increase of 0.08 percent, resulting in a rate of 1.3543, up 0.0011.

However, the British Pound weakened as the GBP/USD pair experienced a decrease of 0.13 percent, settling at a rate of 1.2735, representing a loss of 0.0017.

Similarly, the U.S. Dollar saw marginal gains against the Swiss Franc, with the USD/CHF pair recording a slight increase of 0.01 percent, reaching a rate of 0.8837.,. an uptick of 0.00008.

Conversely, the Australian Dollar and the New Zealand Dollar both depreciated against the U.S. Dollar. The AUD/USD pair saw a decline of 0.32 percent, settling at a rate of 0.6560, marking a decrease of 0.0020. Similarly, the NZD/USD pair experienced a hefty loss of 0.74 percent, reaching a rate of 0.6084, representing a decrease of 0.0045.

Analysts attributed these mixed movements to market uncertainty surrounding global economic recovery and geopolitical tensions. Traders remain vigilant, closely monitoring upcoming economic indicators and central bank decisions for further insights into currency movements.

Overall, Friday’s FX market closed with a blend of gains and losses across major currency pairs, reflecting the dynamic nature of global financial markets and the various factors influencing currency valuations.

Global Stock Markets Close with Mixed Performances on Friday

In the closing bell of the stock markets on Friday, major indices around the world witnessed a mixed bag of performances, influenced by various economic factors and geopolitical tensions. Here’s a comprehensive roundup of the key indices:

CANADA

S&P/TSX Composite index (^GSPTSE):

Canada’s S&P/TSX Composite index closed positively at 21,849.15, up by 19.30 points, or +0.09 percent.

UNITED KINGDOM

• FTSE 100 (^FTSE): The London Stock Exchange closed with the FTSE 100 at 7,727.42, marking a slight decline of 15.73 points, or -0.20 percent.

EUROPE

• DAX PERFORMANCE-INDEX (^GDAXI): Germany’s DAX closed marginally lower at 17,936.65, down by 5.39 points, or -0.03 percent.
• CAC 40 (^FCHI): France’s CAC 40 edged up slightly, closing at 8,164.35 with a gain of 2.93 points, or +0.04 percent.
• BEL 20 (^BFX): Belgium’s BEL 20 closed at 3,684.20, down by 7.65 points, or -0.21 percent.
• ESTX 50 PR.EUR (^STOXX50E): Eurozone’s STOXX 50 closed slightly lower at 4,986.02, down by 7.10 points, or -0.14 percent.
• Euronext 100 Index (^N100): The Euronext 100 Index closed at 1,492.53, down by 1.76 points, or -0.12 percent.

RUSSIA

• MOEX Russia Index (IMOEX.ME): Russia’s MOEX Index closed at 2,222.51, down by 4.14 points, or -0.19 percent.

ASIA

• HANG SENG INDEX (^HSI): Hong Kong’s Hang Seng Index experienced a notable decline, closing at 16,720.89, down by 240.77 points, or -1.42 percent.
• SSE Composite Index (000001.SS): China’s Shanghai Composite closed positively at 3,054.64, gaining 16.40 points, or +0.54 percent.
• Shenzhen Index (399001.SZ): China’s Shenzhen Index also saw gains, closing at 9,612.75, up by 57.33 points, or +0.60 percent.
• KOSPI Composite Index (^KS11): South Korea’s KOSPI Composite Index closed at 2,666.84, down by 51.92 points, or -1.91 percent.
• TSEC weighted index (^TWII): Taiwan’s TSEC weighted index closed at 19,682.50, down by 255.42 points, or -1.28 percent.
• IDX COMPOSITE (^JKSE): Indonesia’s IDX Composite closed at 7,328.05, down by 105.26 points, or -1.42 percent.
• Nikkei 225 (^N225): Japan’s Nikkei 225 ended the day at 38,707.64, down by 99.74 points, or -0.26 percent.Other Global Indices:
• STI Index (^STI): Singapore’s STI Index closed at 3,172.96, down by 13.44 points, or -0.42 percent.
• FTSE Bursa Malaysia KLCI (^KLSE): Malaysia’s FTSE Bursa Malaysia KLCI closed at 1,552.83, up by 9.08 points, or +0.59 percent.
• S&P BSE SENSEX (^BSESN): India’s S&P BSE SENSEX closed at 72,643.43, down by 453.85 points, or -0.62 percent.
• NIFTY 50 (^NSEI): India’s NIFTY 50 closed at 22,023.35, down by 123.30 points, or -0.56 percent.

OCEANIA

• S&P/ASX 200 (^AXJO): Australia’s S&P/ASX 200 closed lower at 7,670.30, down by 43.30 points, or -0.56 percent.
• ALL ORDINARIES (^AORD): Australia’s All Ordinaries Index closed lower at 7,923.80, down by 50.20 points, or -0.63 percent.
• S&P/NZX 50 INDEX GROSS (^NZ50): New Zealand’s S&P/NZX 50 INDEX GROSS closed at 11,766.98, down by 41.35 points, or -0.35 percent.

AFRICA

• Top 40 USD Net TRI Index (^JN0U.JO): South Africa’s Top 40 Index witnessed a significant drop, closing at 3,824.75, down by 110.45 points, or -2.81 percent.

MIDDLE EAST

Middle East markets were mostly closed Friday and will reopen Monday.

Overall, global markets exhibited mixed sentiments, with some indices closing positively while others experienced losses, reflecting the ongoing uncertainty in the global economic landscape.