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Stocks weakened amid new COVID-19 concerns - Wednesday Review, August 18

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Miguel A. Rodriguez
Miguel A. Rodriguez
19 August 2021
The US Federal Reserve is considering asset tapering sooner than expected

The US

Wall Street ended the day lower after Federal Reserve officials expressed mixed opinions on easing economic stimulus. USA30 and USA500 each traded 1.07% lower, while TECH100 fell 0.89%.

Crude oil settled down 1.7% to $65.46 per barrel.

Gold traded 0.2% lower at $1,784.4 per ounce.

The Dollar Index rose 0.04% to 93.163.

 

Asia and Australia

Markets were up, even though the ongoing spread of COVID-19 creates concerns over its impact on the economic recovery hard to shake off. Moreover, China intensified its regulatory tightening on companies such as Alibaba, Baidu, and JD.com.

Japan225 was up 0.35%.

HongKong45 added 0.21%.

Down under, Australia200 inched up 0.08%.

 

Europe

Stocks were steady, as investors favoured utilities and healthcare shares over economically sensitive sectors on rising concerns over a spike in global COVID-19 cases. France40 fell 0.7%, and UK100 slipped 0.2%. Germany30 traded 0.2% lower.

Brent ended the day down 1.2% at $68.23 a barrel.

EUR/USD traded 0.09% lower at 1.1698.

 

Sources: investing.com, reuters.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.