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November 2018
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Tuesday, 16 October 2018 11:00

Dollar falls as global tensions rise

Dollar falls as global tensions rise

Technology companies pulled stock indexes lower, while the dollar dropped as investors eyed a growing list of global concerns, Caspian Energy News (www.caspianenergy.net) reports with reference to Bloomberg.

The tech-heavy Nasdaq indexes led losses Monday, while small caps gained after President Donald Trump on Sunday threatened more tariffs on Chinese goods. The S&P 500 deepened declines following its biggest weekly retreat since March, holding near the key 200-day moving average. Bank of America Corp. dropped after posting quarterly results, while Harris Corp. and L3 Technologies Inc. surged on the announcement of a merger.

The dollar touched a two-week low against peers, while the 10-year Treasury yield traded around 3.15 percent after U.S. retail sales in September fell short of analysts’ estimates.

While global tensions were on full display this weekend, with the IMF warning of more market volatility and U.S.-China trade war rhetoric increasing, investors are also trying to gauge the direction of the American economy and earnings from last quarter that are starting to roll in. Anything hinting of a slowdown or stronger growth that could impact the pace of Federal Reserve rate hikes will push markets around.

More details: https://www.bloomberg.com/news/articles/2018-10-14/stocks-in-asia-face-mixed-start-pound-declines-markets-wrap

Person in charge of the newsline: Olga Nagiyeva 

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