Sun, 24 Oct 2021

Wall Street worries push major indices marginally lower

Lola Evans
09 Sep 2021, 06:08 GMT+10

NEW YORK, New York - U.S. stocks engaged in a tug of war Wednesday, before sending each of the major indices out with modest losses.

"Investors are pulling petals from a daisy, saying, 'The economy will grow, the economy won't grow'," Sam Stovall, chief investment strategist at CFRA told Reuters Thomson Wednesday.

"They can't make up their minds, so they have no commitment to long-term positions," he added.

At the close of trading, the Nasdaq Composite was down 87.69 points or 0.57 percent at 15,286.64.

The Standard and Poor's 500 edged down 5.96 points or 0.13 percent to 4,514.07.

The Dow Jones industrials dropped 68.93 points or 0.20 percent to 35,031.07.

The U.S. dollar moved higher against the euro, pushing the European Union unit down to 1.1819 by the New York close Wednesday.

The British pound was steady at 1.3776. The Japanese yen was little changed at 110.24. The Swiss franc fell to 0.9218.

The Canadian dollar was weaker at 1.2682. The Australian dollar was little changed at 0.7368. The New Zealand dollar firmed to 0.7100.

On overseas equity markets, the FTSE 100 in London shed 0.75 percent. The CAC 40 in Paris let go 0.85 percent. The German Dax declined a whopping 1.47 percent.

On Asian markets, according to Business Sun, Tokyo's benchmark Nikkei 225 index jumped another 265.07 points or 0.89 percent to the lofty heights of 30,181.21.

In Australia, the All Ordinaries got clipped 18.90 points or 0.24 percent, taking the index down to 7,807.50, as the day's Covid-19 cases in New South Wales on Wednesday hit 1,480. Nine deaths were recorded overnight including a man in his 20s.

In China, shares were flat, although in Hong Kong, the Hang Seng shed 90.72 points or 0.34 percent to 26,262.91.

The Shanghai Composite closed down 1.40 points or 0.04 percent at 3,675.19.

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