U.S. stocks stack up losses as world markets edge lower
"These market reactions—despite strong earnings, capex, and buyback activity —are becoming increasingly difficult to justify," Joseph Cusick, senior vice president and portfolio manager at Calamos Investments told CNBC Thursday. "At the same time, downside moves have been relatively contained."
U.S. Markets Decline
The Standard and Poor's 500 (^GSPC) slipped 0.37 percent, closing at 6,339.39, down 23.51 points in a broad retreat.
The Dow Jones Industrial Average (^DJI) saw steeper losses, falling 330.30 points, or 0.74 percent, to settle at 44,130.98.
Meanwhile, the tech-heavy Nasdaq Composite (^IXIC) narrowly avoided a flat close, dipping just 0.03 percent to 21,122.45 after a late-session rebound softened earlier declines.
Dollar Strengthens Against Major Currencies Amid Shifting Market Sentiment
The U.S. dollar showed broad strength in Thursday's foreign exchange session, gaining ground against the euro, yen, and commodity-linked currencies while retreating slightly against the Swiss franc and British pound.
Key Moves
EUR/USD edged down 0.09 percent to 1.1413.
USD/JPY surged 0.85 percent to 150.75.
USD/CAD rose 0.19 percent to 1.3853
The GBP/USD fell 0.21 percent to 1.3206 amid soft UK retail data, while the USD/CHF dropped 0.32 percent to 0.8121 as the franc capitalized on safe-haven flows.
Commodity Currencies Struggle
AUD/USD dipped 0.09 percent to 0.6427
NZD/USD slipped 0.05 percent to 0.5891
Global Stock Markets Close Weaker Thursday; European, Asian and Pacific Indices Lead Declines
Global stock markets mostly closed lower on Thursday, with European indices leading losses while few markets showed resilience.
Canada's TSX Drops
Canada's S&P/TSX Composite (^GSPTSE) fell 0.40 percent, shedding 110.18 points to end at 27,259.78 as energy and financial stocks weighed on the index.
European Markets
The FTSE 100 (^FTSE) edged slightly lower, closing at 9,132.81, down 4.13 points or 0.05 percent.
Meanwhile, Germany's DAX (^GDAXI) fell sharply by 196.75 points, or 0.81 percent, to 24,065.47.
In France' the CAC 40 (^FCHI) dropped 1.14 percent, losing 89.99 points to end at 7,771.97.
The broader EURO STOXX 50 (^STOXX50E) declined 1.36 percent, shedding 73.26 points to 5,319.92, while the Euronext 100 (^N100) slid 1.23 percent to 1,582.17. Belgium's BEL 20 (^BFX) was a rare gainer, rising 0.45 percent to 4,636.12.
Asian and Pacific Markets
In Asia, Hong Kong's Hang Seng Index (^HSI) tumbled 1.60 percent, losing 403.60 points to close at 24,773.33. Singapore's STI Index (^STI) fell 1.08 percent to 4,173.77, while Australia's S&P/ASX 200 (^AXJO) dipped 0.16 percent to 8,742.80. The broader All Ordinaries (^AORD) slipped 0.18 percent to 8,999.00.
China's Shanghai Composite (000001.SS) fell 1.18 percent to 3,573.21, while Japan's Nikkei 225 (^N225) outperformed, climbing 1.02 percent to 41,069.82.
India's S&P BSE Sensex (^BSESN) declined 0.36 percent to 81,185.58, and Indonesia's IDX Composite (^JKSE) dropped 0.87 percent to 7,484.34.
Malaysia's KLSE (^KLSE) fell 0.74 percent to 1,513.25, while New Zealand's NZX 50 (^NZ50) edged down 0.25 percent to 12,823.74.
South Korea's KOSPI (^KS11) dipped 0.28 percent to 3,245.44, but Taiwan's TWSE (^TWII) bucked the trend, rising 0.34 percent to 23,542.52.
Middle East & Africa
Israel's TA-125 (^TA125.TA) slipped 0.21 percent to 3,080.29, while Egypt's EGX 30 (^CASE30) surged 1.00 percent to 34,198.00.
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