U.S. stock indexes closed mixed and the dollar slid a bit on Tuesday after companies warned of a tough year ahead along with some profit beats, while data showed U.S. business activity contracted for a troubling seventh straight month in January.
25 Jan 2023, 07:47:39 AM IST
Asians stocks tumble, oil steady
Asian stocks struggled to find traction on Wednesday while US and European equity futures slumped as a downbeat revenue forecast from Microsoft Corp. added to risk aversion in global markets.
Contracts for the Nasdaq 100 dropped about 0.7%, following a slight decline in the underlying index on Tuesday. Futures for the S&P 500 also fell, as did those for the Euro Stoxx 50. Japan’s Topix index fluctuated and Australian shares erased early gains as inflation data soured sentiment.
South Korea’s Kospi index surged 1.5% in a catchup move after Lunar New Year holidays. Hong Kong and mainland China markets remain closed.
Overnight on the Wall Street, the Dow Jones Industrial Average finished up 0.3% but the broad-based S&P 500 slipped 0.1% and the tech-rich Nasdaq Composite Index dropped 0.3%.
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