Chinese restrictions pressure American and European stocks to decline – the economic – the global economy


US stocks opened slightly lower ahead of the results of the most valuable companies in the market and the two-day meeting of the Federal Reserve.

While global stocks suffered from concerns about tighter Chinese restrictions on the technology sector, despite optimism about the season of corporate results in the United States and Europe.

The Dow Jones Industrial Average fell 65.41 points, or 0.19%, to 3,5078.90 points, the Standard & Poor’s 500 Index fell 5.92 points, or 0.13%, to record 4416.38 points, and the Nasdaq Composite Index fell 32.77 points, or 0.22%, to 14,807.95 points.

European shares fell on a sharp decline in Chinese shares and disappointing data on Reckitt Benckiser sales, which overshadowed strong results for companies such as LVMH.

The pan-European Stoxx 600 index fell 0.6%, extending losses for the second consecutive session, but remained just a few points below its all-time high.

Reckitt’s stock tumbled 9.2% after its quarterly sales missed analyst estimates due to lower demand for its soap and cold medicine products.

Dutch technology investment company Prosus fell 7.4%, to its lowest level since May 2020, due to losses in shares in Hong Kong and China.

But LVMH, the world’s largest luxury goods company, rose slightly after reporting higher sales and earnings.

Japanese stocks rose, following the gains of the American market, as investors celebrated the companies’ results, but the Nikkei index did not succeed in closing above the psychologically important level of 28 thousand points for the second consecutive session.

The Nikkei index closed up 0.49% at 27,970.22 points. The index has not exceeded the 28 thousand level at the close since July 16.

The broader Topix index rose 0.64% to 1938.04 points.

In the US stock market, the three indexes of the Standard & Poor’s 500, Dow Jones and Nasdaq closed at record levels last night.

And outperformed stocks of companies linked to the economic recovery.

At the level of sectors in Tokyo, shares of airlines made the largest gains, with an increase of 3.29%, followed by non-ferrous metals, which rose by 2.09%, and iron and steel, which increased by 1.74%.



Please enter your comment!
Please enter your name here