The American markets appear to have followed suit of their Asian counterparts on June 21. This, as the major indices listed on the New York Stock Exchange the trading week in negative territory. The S&P 500 closed at 5,464.62, declining by 0.16 per cent or 8.55 points.
Meanwhile, the Nasdaq, which has been driven by the surge of major tech stocks, particularly Nvidia, also closed in red, declining by 0.18 per cent or 32.23 points, closing at 17,689.36.
American Markets Decline
It is interesting to note that the Nasdaq had a fairly volatile day, with crests and troughs. Interestingly, the aforementioned Nvidia also had a bad day. The stock value of the most valuable company dropped by a significant 3.22 per cent or 4.21 points, to USD 126.57 per share.
Coming back to the major indices, Russell 2000 and Dow Jones Industrial Average were the exceptions. Russell ended with a rise of 0.23 per cent or 4.64 points, closing at 2,022.03. Dow Jones closed with a marginal rise of 0.040 per cent or 15.57 points, ending the day at 39,150.33.
This larger drop comes after a day of decline earlier in the Asian markets as well. Japan’s marquee Nikkei ended in red, however, with a marginal decline of 0.095 per cent or 36.55 points, closing at 38,596.47.
Hang Seng Loses Over 1%
In South Korea, the Kospi composite closed at 2,784.26, dropping by 23.37 points or 0.83 per cent.
In China, SSE Composite decreased by 0.24 per cent or 7.30 points, ending the day at 2,998.14. Hong Kong’s Hang Seng saw the worst trading session, as the index dropped by 1.67 per cent or 306.80 points, declining to 18,028.52.
The story was no different in India, as BSE Sensex dropped by 0.35 per cent or 269.03 points, closing at 77,209.90. NSE Nifty declined by 0.28 per cent or 65.90 points to close at 23,501.10. In Europe, the wave of red continued as the region’s largest index, FTSE 100, also closed in red, dropping by 0.42 per cent or 34.74 points, closing at 8,237.72.
It is important to note that crude oil prices from sinking to the record low of below USD 79 per barrel have jumped and hovered over USD 85 per barrel (Brent Crude) potentially propelling global markets to selling streak in the past week.
Published on: Sunday, June 23, 2024, 09:36 AM IST
