Global market update: US stocks fall, led by Tesla and AT&T

The S&P 500 dipped 0.60% at 4,129.79. The Dow Jones Industrial Average fell 0.33% at 33,786.62. The Nasdaq Composite lost 0.8% at 12,059.56.

Tesla stock sank 9.75% after the company missed gross margin forecasts. AT&T plunged 10.4% after reporting slightly weaker than expected revenue.

Data showed that weekly jobless claims surged last week. 

The manufacturing activity in the mid-Atlantic region plunged to its lowest level in 3 years in April and the existing home sales fell in March.

Adding to investors’ worries, Fed governor Michelle Bowman said the central bank is focused on bringing down inflation in order to support a growing economy and climbing incomes, while the solid labor market has made it difficult for growing businesses to find workers.

Treasury yields fell after the release of US economic data. The yield on 10-year treasury dropped 6.8 basis points to 3.534%. The yield on 2-year treasury fell 11.6 basis points at 4.149%.

Currencies

The Japanese yen rose 0.36% against the US dollar at 134.23. The euro strengthened 0.07% to $1.0962.

Canada

Canada’s Toronto Stock Exchange’s S&P/TSX composite index declined 0.2% at 20,630.69.

European shares

European shares declined on weak earnings reports. The pan-European STOXX 600 index lost 0.15%.

Britain’s FTSE 100 rose less than 0.1% at 7,902.61. Germany’s DAX was down 0.6% at 15,795.97. In France, CAC 40 dipped 0.1% at 7,538.71.

Asia

Asian stock markets were mixed on Thursday. 

Hong Kong’s Hang Seng index added 0.1% at 20,396.97. China’s Shanghai Composite index fell 0.1% at 3,367.03. Japan’s Nikkei 225 gained 0.2% at 28,657.57.

Australia’s S&P/ASX 200 index ended flat. New Zealand’s benchmark S&P/NZX 50 index slipped 0.3% at 11,879.68.

Crude oil

Brent crude for June delivery fell $2.02 to $81.10 a barrel on Thursday. US benchmark crude oil for May delivery fell $1.87 to $77.29 a barrel.

Bullion

Gold for June delivery rose $11.80 to $2,019.10 an ounce. Silver for May delivery was unchanged at 25.37 an ounce.