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TOKYO – Asian stocks rallied after Monday’s fall on Wall Street and Asian stock fell, with Washington seeking badly needed support for the U.S. economy ahead of the U.S. presidential election.
Amid global uncertainty about the continued economic collapse from the coronavirus epidemic, investors are focusing on U.S. economic stimulus, which has outpaced growth with social distance restrictions, unemployment, developed trade, as well as tourism and business closures. On Wall Street, the S&P 500 fell 1.6%, its worst day in more than three weeks. Wall Street expects legislators to eventually agree on new stimulus measures for the economy, but differences have narrowed ahead of the Nov-November election.
Dow Dowls Broad Retreat at 410 Points, S&P Stylish Store
The S&P 500 fell 56.89 points to close at 3,426.92. The Dow Jones Industrial Average for large blue chips fell 1.4% to 28,195.42. The Nasdaq Composite extended its losing streak to a fifth day, falling 1.7% to 11,478.88.
Shares of the smaller company also fell. Russell 2000 dropped 1.2% to 1,613.63. The index has risen 7% so far this month, surpassing the 1.9% growth for the extended S&P 500.
Asian stocks were mixed after Wall Street fell on Tuesday and Asian lows fell on Tuesday, hoping Washington would provide much-needed support to the U.S. economy ahead of the U.S. presidential election. (Photo by Spencer Plate / Getty Images)
Stocks are putting up much higher pressure this month after suddenly returning some of their big earnings this year in September. The benchmark S&P 500 has risen in each of the past three weeks. However, trade has always been rough from one day to the next, indicating uncertainty about the timing of further stimuli for the economy.
Japan’s benchmark Nikkei 225 fell 0.4% to 23,567.04, while South Korea’s Kospi lost 0.3% to 2,353.86. Australia’s S&P / ASX 200 fell 0.7% to 6,184.60. Hong Kong’s Hang Seng fell 0.1% to 24,512.33, while the Shanghai Composite rose nearly 0.2% to 3,318.09.
India’s Sensex rose 0.6% to 40,691.72. Shares fell in Taiwan and Southeast Asia.
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“ExxonMobil is hoping for balloon defaults and stocks are struggling to swim on their own during the subpar earnings season, fatigue has stabilized and gravity laws have taken over,” said Stephen Ince, Exxon’s chief global market strategist. Ins said. .
Ines said in a report that “and due to the lack of markets owing to uncertainty, investors continue to act cautiously before the final presidential debate.”
Market players are looking for additional data on China’s recovery, as it could lead to much-needed growth in the rest of Asia. Recent data from Japan shows that exports to China are slowly improving.
On Wall Street, the S&P 500 fell 1.6%, its worst day in more than three weeks. Wall Street expects legislators to eventually agree on new stimulus measures for the economy, but differences have narrowed ahead of the Nov-November election.
The S&P 500 fell 56.89 points to close at 3,426.92. The Dow Jones Industrial Average for large blue chips fell 1.4% to 28,195.42. The Nasdaq Composite extended its losing streak to a fifth day, falling 1.7% to 11,478.88.
Shares of the small company also fell. Russell 2000 dropped 1.2% to 1,613.63. The index has risen 7% so far this month, surpassing the 1.9% growth for the extended S&P 500.
Stocks are putting up much higher pressure this month after suddenly returning some of their big earnings this year in September. The benchmark S&P 500 has risen in each of the past three weeks. Nevertheless, trade has always been choking from day to day, reflecting the uncertainty over the timing of further stimulus for the economy.
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Investors were also looking forward to another busy week of corporate earnings reports. Analysts around the S&P 500 are expecting companies to report another drop in profits.
In energy trading, U.S. Benchmark crude reached 5 41.11 bar with an increase of 5 cents in electronic trading on the New York Mercantile Exchange. It will lose 6 cents per barrel on Monday to $ 41.06. International standard, Brent crude rose 2 cents to 6 62.64 a barrel.
The US dollar reached 105.53 Japanese yen from 105.43 yen late Monday night. The euro rose from 1.1769 dollars to 76 1.1776.
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Contributed by AP Business Writers Ken Sweet, Damien J. Trois and Alex Vega.
