Fri, 30 Sep 2022

U.S. stock markets skid, technology stocks lead the way

Lola Evans
10 Aug 2022, 06:09 GMT+10

NEW YORK, New York - U.S. stocks fell Tuesday, with broad-based losses across the board. The technology sector, however, wore the brunt of the damage.

The Nasdaq Composite shed 150.53 points or 1.19 percent to 32,774.41.

The Standard and Poor's 500 was off 17.59 points o r0.42 percent at 4,122.47.

The Dow Jones industrials dropped 58.13 points or 0.18 percent to 32,774.41.

"Everything that we're getting is showing that inflation is having a much harder impact on corporate America outlooks, and that's why I think this market is going to be difficult to continue to buy equities," Ed Moya, senior market analyst at Oanda told CNBC Tuesday.

The U.S. dollar was little changed. The euro inched up to 1.0207 by the New York close Tuesday. The British pound was unmoved at 1.2072. The Japanese yen softened to 135.14. The Swiss franc edged up to 0.9539.

The Canadian dollar was unchanged at 1.2885. The Australian dollar drifted lower to 0.6959. The New Zealand dollar traded in a tight range around 0.6284.

In London, the FTSE 100 increased 0.08 percent. The Davis Germany declined 1.22 percent. The Paris-based CAC 40 fell 0.55 percent.

China's Shanghai Composite added 10.50 points or 0.32 percent to 7,029.80.

The Australian All Ordinaries advanced 19.10 points or 0.26 percent to 7,278.60.

In Japan, the Nikkei 225 retreated 249.28 points or 0.88 percent to 27,999.76.

In New Zealand, the S&P/NZX 50 strengthened 50.67 points or 0.43 percent to 11,753.48.

South Korea's Kospi Composite added 10.16 points or 0.41 percent to 2,503.26.

In Hong Kong, the Hang Seng lost 42.33 points or 0.21 percent to 20,003.44.

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