Dollar weakening accelerated
US stock indexes losses widened on Monday as bond yields fell. The S&P 500 lost 1.2% to 2882.70 led by financials. Dow Jones industrial fell 1.5% to 25896.44. The Nasdaq composite dropped 1.2% to 7863.41. The pace of dollar weakening accelerated: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, fell 0.1% to 97.38 but is higher currently. Stock index futures point to lower market openings today
DAX 30 loss smallest among European indexes
European stocks retreat continued on Monday led by bank shares. GBP/USD joined EUR/USD’s climb yesterday with both pairs lower currently. The Stoxx Europe 600 index ended 0.3% lower. The DAX 30 slipped 0.1% to 11679.68. France’s CAC 40 slid 0.3% and UK’s FTSE 100 0.4% to 7226.72.
Hang Seng leads Asian indexes slump
Asian stock indices are tracking Wall Street losses overnight. Nikkei closed 1.1% lower at 20455.44 despite the reversal of yen slide against the dollar. Markets in China are falling as protests paralyzed Hong Kong airport while China’s central bank set the yuan’s midpoint at 7.0326 per dollar, weaker than 7 per US dollar for a fourth straight day Tuesday. The Shanghai Composite Index is down 0.6% and Hong Kong’s Hang Seng Index is 1.9% lower. Australia’s All Ordinaries Index pulled back 0.3% as Australian dollar turned higher against the greenback.
Brent down
Brent futures prices are edging lower today. Prices rose yesterday: October Brent crude closed 0.2% higher at $58.65 a barrel on Monday.