Wednesday, January 26, 2022

World Shares Track Wall Street Retreat, US Futures Gain | Nation World News

BANGKOK ( Associated Press) – Shares in Europe and Asia fell on Friday after a rebound on Wall Street, leaving the Nasdaq Composite down 2.5%.

Germany’s DAX was down 0.6% at 15,928.83 and the CAC 40 in Paris was down 0.7% at 7,145.19. Britain’s FTSE 100 closed 0.1% lower at 7,556.29. On Wall Street, both the Dow industrialists and the S&P 500 were up 0.1% in the future.

China reported its global trade surplus grew by almost 30% to $676.4 billion in 2021. The trade surplus in December rose 20.8% from a year earlier to a monthly record of $94.4 billion, customs data showed on Friday.

Exports rose to $3.3 trillion in 2021 despite a shortage of processor chips for smartphones and other products, as global demand resumed from the pandemic. The rationing of electricity in some areas also caused problems for the manufacturers.

South Korea’s central bank has raised its key interest rate from 1% to 1.25% to combat inflation. But while it is dialing back monetary stimulus, after raising the benchmark rate twice so far, the government on Friday won 14 trillion ($11 billion) in additional spending, mainly to small businesses in the wake of the coronavirus outbreak. To help you recover from the effects of.

Inflation rose to 3.7% in December, and the latest rate hike “gives a strong indication that the bank is prioritizing inflation and reducing fiscal imbalances,” Alex Holmes of Capital Economics said in a report. “It is very clear that more hikes are imminent,” he said.

In Asian trade, South Korea’s Kospi ended 1.4% lower at 2,921.92.

The Shanghai Composite Index was down 1% at 3,521.26 and the Hang Seng in Hong Kong fell 0.2% to 24,383.32. Tokyo’s Nikkei 225 closed down 1.3% at 28,124.28.

In Sydney, the S&P/ASX 200 closed down 1.1% at 7,393.90.

India’s Sensex was down 0.1%.

Technology companies led the sell-off on Wall Street on Thursday that dragged major indices into the red for the week.

The S&P 500 fell 1.4% to 4,659.03. The tech-heavy Nasdaq fell 2.5% to settle at 14,806.81. The Dow Jones Industrial Average fell 0.5% to 36,113.62.

Shares of smaller companies also fell. The Russell 2000 closed 16.62 points, or 0.8%, down at 2,159.44.

The sell-off comes as investors anticipate the company’s earnings report and new data pointing to rising prices. at the wholesale level. The Labor Department reported Thursday that its producer price index, which measures prices at the wholesale level, rose by a record 9.7% for all of 2021. The increase set an annual record and provided further evidence that inflation still exists at all levels. American economy.

Inflation has been a major focus For investors as they try to figure out how rising prices will affect businesses, consumers, and the Federal Reserve’s policy on interest rates in 2022.

US benchmark crude oil rose 50 cents to $82.62 a barrel in electronic trading on the New York Mercantile Exchange. On Thursday, it fell 52 cents to $82.12.

Brent crude, the basis for international oil pricing, rose 77 cents to $85.24 a barrel.

The dollar weakened from 114.18 yen to 113.83 yen. The euro rose from $1.1457 to $1.1464.


Nation World News Desk
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