Tech sector drove the majority of markets into negative territory - Tuesday Review, September 8

By: Miguel A. Rodriguez

09:45, 14 September 2020

Rising Sino-US tensions didn’t faze the markets

The US

The benchmarks had a surprise after the Labor Day Holiday. The nosedive of #Tesla drove the sell-off in tech stocks as it dropped more than 20% after it didn't make the cut for the USA500 inclusion. USA30 fell 2.25%. USA500 was down 2.76%, and TECH100 slumped 4.11%. 

Gold settled 0.5% higher at $1,943.20 per ounce. 

Oil settled down 7.6% at $36.76 per barrel, while Brent Oil lost 5.3% to $39.78. 

The Dollar Index rose 0.8% to 93.468.

Asia and Australia

The markets didn't budge over the fact that the US is considering putting the semiconductor manufacturer SMIC on the Entity List. Also, they didn't pay much attention to the new #tensions between the US & China, after President #Trump announced a possible decoupling of the two economies. 

HongKong45 gained 0.2%. 

Japan225 ended up 0.8%. 

Down under, Australia200 rose 0.47%. 

AUD/USD traded at 0.7210.


These benchmarks followed their American peers and ended the day in the red. 

Europe50 was down 0.9%. Germany30 traded 0.5% lower, while France40 fell 1%. 

EUR/USD traded at 1.1818.

GBP/USD lost 0.3% settling at 1.3135.

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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.