Wall Street tumbled yesterday, with major indices – USA30, USA500, and TECH100 – each falling 1%. Investors weighed in reports that President Biden was considering an important tax hike on the rich. The president was looking to allegedly almost doubling the capital gains tax hike up to 39.6% to fund childcare and education proposals included in the so-called American Family Plan.
Crude oil dropped 0.7% to $60.93 per barrel.
Gold was flat at $1,793.10 per ounce.
Asia and Australia
HongKong45 gained 0.26% after the city could reportedly create a travel bubble with Singapore, with no-quarantine travel starting in the second half of May.
Japan225 jumped 2.12%.
Down under, Australia200 went up 0.44% even though its tensions with China after the former cancelled various agreements reached between China’s Belt and Road Initiative and the Victorian government.
Stocks traded higher, boosted by the predominantly positive corporate results ahead of the European Central Bank meeting. Germany30 traded 0.4% higher, while France40 went up 0.5%. UK100 climbed 0.2%.
Brent oil fell 0.6% to $64.90 per barrel.
EUR/USD gained 0.1%, trading at 1.2045.
Sources: investing.com, reuters.com