Global stocks mixed after big tech crash on Wall Street
Tai said she did not want to “ignite trade tensions with China.” But his comments suggest a continuation of US policy towards Beijing under President Joe Biden compared to the strategy adopted by his predecessor, Donald Trump.
Speaking to the Center for Strategic and International Studies in Washington, DC, she also said that the United States “must defend our economic interests to the end” and take “whatever steps are necessary to protect us from the waves of damage. inflicted over the years by competition. “
European stocks opened higher after a mixed session in Asia.
The German DAX gained 0.3% to 15,078.68 and the CAC 40 in Paris gained 0.6% to 6,513.04. In London, the FTSE 100 rose 0.5% to 7,048.14.
US futures were higher. The Dow industrials futures contract rose 0.2% while that of the S&P 500 was also up 0.2%.
In Asia, Tokyo’s Nikkei 225 lost 2.2% to 27,822.12 and Seoul’s Kospi lost 1.9% to 2,962.17. The S & P / ASX 200 in Australia lost 0.4% to 7,248.40.
Hong Kong’s Hang Seng Index gained 0.3% to 24,104.15. Shanghai is closed until Friday for a public holiday.
The yield on the 10-year Treasury bill was held at 1.49%.
Rising energy costs and supply chain issues add to concerns about inflation and, in turn, concerns about the Federal Reserve’s plans to reduce bond purchases and possibly increase its benchmark interest rate.
“Assuming energy squeeze is the new normal, it’s hard to see transient inflation as transient as central bankers around the world predict / hope it will be,” Oanda’s Jeffrey Halley said in a comment.
“The effect will be felt in all global supply chains,” he said, adding that monetary policy could not fully solve the problem.
On Monday, the S&P 500 fell 1.3% to 4,300.46. The Dow Jones Industrial Average fell 0.9% to 34,002.92, and the tech-rich Nasdaq fell 2.1% to 14,255.48.
Small business shares also fell. The Russell 2000 Index lost 1.1% to 2,217.47.
Facebook slipped 4.9% per day after a former employee told “60 Minutes” that the company has always chosen its own interests over the public good. The social network and its Instagram and WhatsApp platforms also suffered a global outage that began around mid-morning US time on Monday but ended early in Asia on Tuesday.
In Tuesday’s trading in Asia, benchmark US crude rose 29 cents to $ 77.91 a barrel. Brent crude, the standard for international prices, gained 48 cents to $ 81.74 a barrel.
Wall Street will get more information on the health of the economy this week. On Tuesday, the Institute for Supply Management will release its service sector index for September. The service sector is the largest part of the economy and its health is a key factor for growth.
The Ministry of Labor will release its employment report for September on Friday. The job market is struggling to fully recover from the damage caused by COVID-19 over a year ago.
The US dollar rose from 110.93 yen to 111.16 Japanese yen. The euro slipped to $ 1.1602 from $ 1.1618.