Wed, 08 Jul 2020

U.S. stocks and dollar slide

Lola Evans
24 May 2019, 06:21 GMT+10

NEW YORK, New York - U.S. stocks fell sharply on Thursday, joining a global sell-off which saw equity markets around the world tumble.

Profit-taking hit the U.S. dollar on Thursday as well, with the euro, British pound and Japanese yen rebounding from recent lows.

At the close of trading Thursday, the Dow Jones Industrial Average had falled 286.21 points or 1.11% to 25,490.40.

The Standard and Poor's 500 shed 33.99 points or 1.19% to 2,822.28.

The Nasdaq Composite did worst of all, losing 122.56 points or 1.58% to close at 7,628.28.

The Japanese yen was the big mover on foreign exchange markets, rising sharply to a New York close around 109.58.

The euro cruised higher to 1.1179, and even the British pound was stronger, finishing Thursday around 1.2656, well off the day's low of 1.2604.

The Swiss franc was little changed at 1.0032. The Canadian dollar eased a touch to 1.3475.

The Australian dollar recovered to 0.6896, and at one stage poked its head above the crucial 0.6900 level to trade at 0.6901.

The New Zealand dollar too added a few basis points to 0.6519.

In overseas equity markets London's FTSE 100 fell 1.41%.

The German Dax dived 1.41%, while in Paris the CAC 40 tumbled 1.81%.

In Asian markets, Japan's Nikkei 225 fell 132.23 points or 0.62% to close at 21,151.15 on Thursday.

In China, the Shanghai Composite tumbled 39.19 points or 1.36% to 2,852.52.

The Australian All Ords had its first down day for the week, losing 13.80 points or 0.21% to 6,584.30.

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