The tech sector drove the US markets lower - Wednesday Review, September 23

The tech sector drove the US markets lower - Wednesday Review, September 23

Europe higher despite gloomy expectations of a post-pandemic economic recovery

The US

The FAANG group and Tesla led the losses, the latter dropping more than 10%. USA30 lost 1.36%, while USA500 was down 1.68%. TECH100 lost 2.28%.

Oil prices went up after the inventories fell 1.6 million barrels in the last week. Crude Oil added 1.2% and ended the day at $40.30 per barrel, and Brent went up 1.1% at $42.20.

Gold lost 2.1% at $1,860.62 per ounce.

The Dollar Index settled at 94.445.


Asia and Australia

After it returned from a two-day holiday, Japan225 fell 0.1%.

HongKong45 lost 0.29% as the tension between mainland China and the US over #TikTok is nowhere near an end.

Down under, Australia200 jumped 1.63%.

USD/JPY added 0.04% to 104.95.

AUD/USD lost 0.59% to 0.7131.


Europe

The benchmarks traded higher despite the negative economic readings. Markit's data showed that the purchasing managers' index fell to 50.1 from 51.9, while the French business activity slowed for the fourth consecutive month. Germany30 traded 1.5% higher, while France40 rose 1.7%. UK100 settled up 1.9%.

EUR/USD lost 0.1% to 1.1697.

Sources: investing.com, reuters.com


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