Asia Morning: Tech Stocks Lead U.S. Market Lower
On Friday, U.S. stocks sank further. The Dow Jones Industrial Average slid 244 points (-0.88%) to 27657, the S&P 500 fell 37 points (-1.12%) to 3319 and the Nasdaq 100 lost 143 points (-1.30%) to 10936.
Dow Jones Industrial Average: Daily Chart
Sources: GAIN Capital, TradingView
Technology Hardware & Equipment (-2.79%), Real Estate (-1.96%) and Utilities (-1.79%) sectors lost the most. Tech giants such as Apple (AAPL -3.17%), Amazon.com (AMZN -1.79%) and Alphabet (GOOG -2.38%) lost further ground. Tesla (TSLA) rebounded 4.42%.
Airline stocks such as United Airlines (UAL -3.61%), American Airlines (AAL -3.23%) and Southwest Airlines (LUV -1.41%) were also under pressure.
Approximately 52.1% (66.4% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average and 52.1% (57.4% in the prior session) were trading above their 20-day moving average.
European stocks stayed in negative territory. The Stoxx Europe 600 Index dropped 0.66%, Germany's DAX 30 fell 0.70%, France's CAC 40 lost 1.22%, and the U.K.'s FTSE 100 was down 0.71%.
The benchmark U.S. 10-year Treasury yield was stable at 0.690%.
U.S. WTI crude oil futures (October) added 0.3% to $41.11 a barrel. Traders are closely watching if Libya is moving closer to reopening its oil industry.
Spot gold rebounded $10.00 (+0.56%) to $1,954 an ounce.
On the forex front, the ICE U.S. Dollar Index was little changed at 92.93.
EUR/USD slipped 0.1% to 1.1837.
GBP/USD dropped 0.4% to 1.2915, snapping a four-day rally. Official data showed that U.K. retail sales grew 0.8% on month in August (as expected).
USD/JPY fell 0.2% to 104.55, down for a fifth straight session.
USD/CAD rose 0.3% to 1.3204. Government data showed that Canada's retail sales grew 0.6% on month in July (+1.0% expected).
Other commodity-linked currencies were mixed against the greenback. AUD/USD lost 0.3% to 0.7289 while NZD/USD gained 0.1% to 0.6759, posting a six-day rally.
Dow Jones Industrial Average: Daily Chart
Sources: GAIN Capital, TradingView
Technology Hardware & Equipment (-2.79%), Real Estate (-1.96%) and Utilities (-1.79%) sectors lost the most. Tech giants such as Apple (AAPL -3.17%), Amazon.com (AMZN -1.79%) and Alphabet (GOOG -2.38%) lost further ground. Tesla (TSLA) rebounded 4.42%.
Airline stocks such as United Airlines (UAL -3.61%), American Airlines (AAL -3.23%) and Southwest Airlines (LUV -1.41%) were also under pressure.
Approximately 52.1% (66.4% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average and 52.1% (57.4% in the prior session) were trading above their 20-day moving average.
European stocks stayed in negative territory. The Stoxx Europe 600 Index dropped 0.66%, Germany's DAX 30 fell 0.70%, France's CAC 40 lost 1.22%, and the U.K.'s FTSE 100 was down 0.71%.
The benchmark U.S. 10-year Treasury yield was stable at 0.690%.
U.S. WTI crude oil futures (October) added 0.3% to $41.11 a barrel. Traders are closely watching if Libya is moving closer to reopening its oil industry.
Spot gold rebounded $10.00 (+0.56%) to $1,954 an ounce.
On the forex front, the ICE U.S. Dollar Index was little changed at 92.93.
EUR/USD slipped 0.1% to 1.1837.
GBP/USD dropped 0.4% to 1.2915, snapping a four-day rally. Official data showed that U.K. retail sales grew 0.8% on month in August (as expected).
USD/JPY fell 0.2% to 104.55, down for a fifth straight session.
USD/CAD rose 0.3% to 1.3204. Government data showed that Canada's retail sales grew 0.6% on month in July (+1.0% expected).
Other commodity-linked currencies were mixed against the greenback. AUD/USD lost 0.3% to 0.7289 while NZD/USD gained 0.1% to 0.6759, posting a six-day rally.
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