Lola Evans
18 Jul 2019, 06:21 GMT+10
NEW YORK, New York - A major fall in the rail freight giant CSX Corp and continuing trade tensions weighed on Wall Street on Wednesday.
The gloom has spready globally with most indices around the world losing ground on Wednesday.
"One of the things Trump is doing with trade is he's using it as a cudgel against the Fed," Ed Campbell, portfolio manager and managing director at QMA in Newark, New Jersey told Reuters Thomson on Wednesday. "The Fed is citing uncertainty relating to trade as a reason they're open to cutting rates."
The speculation about the Fed easing cut into the dollar in U.S. trading on Wednesday. Earlier in Asia most currencies fell, particularly the British pound which dropped below the crucial 1.2400 level. Later in U.S. trading however the greenback lost ground.
At the close Wednesday, the Dow Jones industrials were down 115.78 points or 0.42% at 27,219.85.
The Nasdaq Composite fell 37.59 points or 0.46% to 8,185.21.
The Standard and Poor's 500 shed 19.62 poinmts or 0.65% to 2,984.42.
The euro rose to 1.1224, while the British pound recovered to 1.2435. The Japanese yen strengthened to 108.06, while the Swiss fran firmed to 0.9867.
The Canadian dollar rose to 1.3048. The New Zealand dollar gained to 0.6734, while the Australian dollar was unchanged compared to its close in Asia at 0.7011.
In overseas markets, the FTSE 100 in London lost 0.55%. The German Dax fell 0.72%, while the Paris-based CAC 40 was off 0.76%.
In Asian markets, in Japan, the Nikkei 225 weakened by 66.07 points or 0.31% to 21,469.18.
China's Shanghai Composite lost 5.92 points or 0.20% to 2,931.69.
The Australian All Ordinaries jumped 28.20 points or 0.42% to 6,764.00.
Get a daily dose of Hawaii Telegraph news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Hawaii Telegraph.
More InformationDELHI, India - Dozens of people have died in a fire in a large factory in Delhi.Fire engines streamed through ...
WASHINGTON, DC - The U.S. Department of Justice last week joined with the U.S. Department of State and the United ...
I have already written a short critique of the majority ruling, and here I wish to expand some of its ...
WASHINGTON, DC - U.S. investigators are trying to determine what caused a Saudi air force pilot in the United States ...
TEHRAN (Tasnim) - China Friday said it had taken 'reciprocal' measures against US diplomats in the country, who will have ...
HYDERABAD, India - Four men accused of the rape and murder of a 27-year old woman veterinarian in Hyderabad, India ...
NEW YORK, New York - A robust jobs market in the U.S. may help the country avoid a recession. Figures ...
TEHRAN (Tasnim) - China Friday said it had taken 'reciprocal' measures against US diplomats in the country, who will have ...
SYDNEY, Australia - Stocks in Asia made a welcome return to the black on Friday, to close out what has ...
BEIJING, China - The Asian Development Bank (ADB) has approved a $300 million results-based lending program with private sector involvement ...
NEW YORK, New York - U.S. stock markets made minor gains on Thursday as speculation over the outcome of trade ...
DUSHANBE, Tajikistan - Tajikistan is reportedly on the cusp of selling a stake in its main industrial concern to a ...