Dow Declines For Sixth Day, European Stocks Ended Down For The Fourth Day.
London, Thursday, 12 May 2022
US Markets Summary
The Dow Jones Industrial Average fell for the sixth trading day in a row on Thursday, as the selloff in US stock exchanges continues.
The blue-chip index dropped 103 points, or 0.33 percent, to 31,730 points. It has dropped 6.8% since the Federal Reserve raised interest rates by 50 basis points last Wednesday.
The S&P 500 index lost 5 points, or 0.13 percent, to 3,930, its lowest level this year.
The Nasdaq, on the other hand, climbed 6 points, or 0.06 percent, to 11,371.
The dollar index increased 0.94 percent to 104.82, despite the VIX volatility index, often known as the fear index, falling 2% to 31.91.
The yield on the 10-year US Treasury note fell 1.4 percent to 2.871 percent.
Precious metals have reversed course after recent gains. Silver down 4.1 percent to $20.68, while gold fell 1.6 percent to $1,822.
Crude oil prices increased little. Brent crude, the global standard, was trading at $108.06 per barrel, up 0.5 percent on the day, while WTI, the US benchmark, was at $106.75 per barrel, up 1%.
Bitcoin's price dropped to $26,700 earlier Thursday, and it was trading about $28,500 by 4.10 p.m. EDT, a 2.5 percent day loss. For the day, the total value of the crypto market fell 4.3 percent to $1.22 trillion.
European Markets Summary
On Thursday, major European stock exchanges ended the fourth trading day of the week with losses.
The STOXX Europe 600 index lost 3.19 points, or 0.75 percent, to 424.40, representing nearly 90% of the market capitalization of the European market in 17 nations.
The FTSE 100 index in the United Kingdom was the poorest performer of the day, falling 114 points to close at 7,233, down 1.56 percent from Wednesday.
The DAX 30 in Germany slid 89 points, or 0.64 percent, to 13,739, while the CAC 40 in France fell 63 points, or 1.01 percent, to 6,206.
The FTSE MIB index in Italy fell 157 points, or 0.67 percent, to 23,566.
The IBEX 35 index in Spain fell 112 points, or 1.35 percent, to close at 8,200 points.
(Written and edited by: The Decision Maker)