Stocks fell after Wall Street’s decline in US CPI

A pedestrian walks past an electronic quotation board displaying stock prices of the Tokyo Stock Exchange in Tokyo on June 16, 2020.

Kazuhiro nogi | AFP | Getty Images

Asia-Pacific shares fell sharply on Wednesday after indices on Wall Street drowned More consistently than expected US Consumer Price Index August report.

of Japan Nikki 225 It fell 2.7%, while the Topics index fell 2%. The Japanese Yen It traded at 143.75 per dollar after hovering around its weakest levels since September 1998.

The Hang Seng Index Hong Kong fell 2.55%, while the Hang Seng Tech index fell 2.96%. In Australia, the S&P/ASX 200 Down 2.48%.

The Cosby South Korea fell 1.34% and Costco fell 1.67%. South Korean won It crossed 1,390 against the greenback and last traded at 1,391.98 against the dollar, the weakest levels since March 2009.

Mainland China Shanghai Mix 1.02% lost Shenzhen component Down 1.496%.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 2.28%.

The US 2-year Treasury yield reached 3.79%. The highest level since 2007. The Dow Jones Industrial Average lost 1,276.37 points, or 3.94%, to close at 31,104.97. The S&P 500 fell 4.32% to 3,932.69, while the Nasdaq Composite lost 5.16% to 11,633.57.

“The most troubling thing about all this is that the strength of core inflation is the services sector,” National Australia Bank’s head of FX strategy Ray Adrill wrote in a note, saying the sector was primarily driven by wage inflation. – is enabled.

CNBC’s Jeff Cox, Jesse Pound and Carmen Reinicke contributed to this report.

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