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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