CANBERA (dpa-AFX) - Anxiety about earnings, the massive AI spend impacting tech earnings, political uncertainty, and a heightened volatility collectively dragged down market sentiment across classes and regions.
Data to be released on Thursday morning is expected to show that the U.S. economy expanded by an annualized 2 percent in the second quarter of 2024 versus 1.4 percent in the first quarter. The PCE-based inflation readings are due on Friday morning. The anxiety about a resilient U.S. economy impacting the Fed's widely expected September rate cut also weighed heavily on investor sentiment.
Wall Street Futures are trading directionless after Wednesday's massive losses. European benchmarks are also trading deep in the red amidst data that showed an unexpected decline in Germany's Ifo business climate reading. Asian stock indexes also finished trading with heavy losses.
Dollar Index slipped. Bond yields eased across regions. Crude oil prices dropped heavily amidst demand concerns. Gold plunged. Cryptocurrencies tumbled.
Here is a snapshot of the major world markets at this hour.
Stock Indexes:
DJIA (US30) at 39,874.50, up 0.05% S&P 500 (US500) at 5,424.60, down 0.05% Germany's DAX at 18,157.35, down 1.22% U.K.'s FTSE 100 at 8,104.50, down 0.60% France's CAC 40 at 7,374.10, down 1.86% Euro Stoxx 50 at 4,785.35, down 1.57% Japan's Nikkei 225 at 37,898, down 3.14% Australia's S&P ASX 200 at 7,861.20, down 1.29% China's Shanghai Composite at 2,886.74, down 0.52% Hong Kong's Hang Seng at 17,004.97, down 1.77%
Currencies:
EUR/USD at 1.0852, up 0.12% GBP/USD at 1.2878, down 0.22% USD/JPY at 152.18, down 1.10% AUD/USD at 0.6524, down 0.87% USD/CAD at 1.3836, up 0.21% Dollar Index at 104.21, down 0.18%
Ten-Year Govt Bond Yields:
U.S. at 4.222%, down 1.52% Germany at 2.4005%, down 1.70% France at 3.114%, down 1.17% U.K. at 4.1450%, down 0.31% Japan at 1.058%, down 1.12%
Commodities:
Brent Oil Futures (Sep) at $80.63, down 1.32%. Crude Oil WTI Futures (Sep) at $76.55, down 1.34%. Gold Futures (Aug) at $2,378.20, down 1.53%.
Cryptocurrencies:
Bitcoin at $64,003.44, down 3.74% Ethereum at $3,161.48, down 8.82% BNB at $561.98, down 4.22% Solana at $167.93, down 5.12% XRP at $0.6044, down 3.96%.
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