Wednesday,04 September 2024 08:20:21

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Wednesday,04 September 2024 at 07:18

UK & European stocks fell at the open following a heavy selloff on Wall Street on the back of poor manufacturing data.

Asia-Pacific markets plunged, led by Nikkei 225 and Taiwan’s Taiex after U.S. tech stocks sold off and weak U.S. economic data sparked recession fears.

Gold prices held steady as investors braced for a monthly U.S. payrolls report that could influence how swiftly and deeply the Federal Reserve cuts interest rates this year.

Oil prices fell, extending the previous day’s more than 4% plunge, on expectations the political dispute that has halted Libyan exports may be resolved and concerns over lower global demand growth.

In corporate news, Nasdaq 100 dived more than 3%, as Nvidia tumbled nearly 10% as part of the broader macroeconomic worries and suspected AI fatigue, and another 2.42% in the afterhours trading on news that the DoJ sent subpoenas to the company because it suspects that Nvidia violated antitrust laws, made switching harder to other chipmakers and penalized companies that didn’t use Nvidia’s AI chips exclusively."

Markets

08:20

FTSE 100 8,250 (-0.57%)

FTSE 250 20,652 (-0.75%)

DAX 18,536 (-1.07%)

the close

Dow Jones 40,936 (-1.51%)

S&P 500 5,528 (-2.12%)

NASDAQ 17,136 (-3.26%)

Fixed Income

UK 10-YR YIELD 3.969

Exchange Rates

GBP/USD 1.311

GBP/EUR 1.185

Commodities

Gold $2,485 (-0.28%)

Brent $73.08 (-0.80%)

Important - No news or research item should be construed as a recommendation to trade. The inclusion of securities within this report does not necessarily imply their suitability for individual portfolios or situations in respect of which further advice should be sought. Information contained in this report has been compiled from sources believed to be reliable but is not warranted to be accurate or complete.