Stocks fell with US equity futures Thursday and the dollar jumped as a lockdown in a Chinese metropolis and a hawkish drumbeat from central banks further frayed investor nerves. A global equity index hit a six-week low, dragged down by a slide in Asian shares amid a retreat in tech firms. S&P 500 and Nasdaq 100 contracts slid partly on a tumble in chipmaker Nvidia Corp. over a sales warning. China moved to lock down Chengdu, a city of 21 million residents, from Thursday night to tackle Covid. It’s the biggest Chinese city to face such curbs since Shanghai’s bruising two-month crisis earlier this year. The market jitters come after the worst month since June for US shares, reflecting fears of an economic downturn alongside restrictive monetary policy to choke inflation. A global bond selloff saw the two-year Treasury yield touch 3.50% for the first time since 2007. Commodity-linked and Group-of-10 currencies weakened, while the yen fell to a fresh 24-year low -- heading closer to the 140 per-dollar level. Stocks are entering a month that is often poor for returns after an August of losses across asset classes. An equity bounce from June lows is fizzling as the Federal Reserve pushes back against bets on tempered rate hikes. Global bonds, meanwhile, are near their first bear market in a generation. oil was on the back foot, sliding to about $89 a barrel. Aggressive Fed tightening and China’s slowdown are dimming the demand outlook. Bitcoin weakened, hovering around the closely watched $20,000 level. The latest economic data underlined a parlous outlook for China. A private survey suggested factory activity contracted in August, sapped by power shortages and Covid-linked curbs. US After Hours NTNX +22.3%, PSTG +6.5%, FIVE +5% higher on earnings; AI -15.9%, MDB -13.3%, OKTA -11.6%, VEEV -11.1%, SMTC -6.9% lower on earnings; NVDA -3.9% as US govt imposes new license
Nikkei -1.59% Hang Seng -1.38% CSI -0.11% Shanghai +0.13% Shenzen -0.06%
Eur$ 1.0019 CNH 6.9097 CNY 6.9018 JPY 139.36 GBP 1.1588 CHF 0.9798 RUB 60.25 TRY 18.2101 WTI$ 88.95 -0.67% Gold 1,707.35 -0.22% BTC 20,105.60 -0.45% ETH 1,558.90 -0.82%
S&P -0.67% Nasdaq -1.14% EuroStoxx -0.94% FTSE -0.55% Dax -0.74% SMI -0.63%
Macro :
- Morgan Stanley’s Wilson Says Indexes Face Fresh Low This Year
- Millennium Hires Morgan Stanley Rates Trading Co-Head Flowerdew
Keep an eye on :
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- BZU IM : Buzzi to Be Added to FTSE MIB Index, Replacing Exor
- CTEC LN : ConvaTec Group, F&C Investment Trust to Join FTSE 100 Index
- DIS US : Disney Explores Amazon Prime-Like Program to Offer Perks: DJ
- FGR FP : Eiffage 1H Revenue Beats Estimates
- GREEN BB : Greenyard Co-CEO Hein Deprez to Switch to Board After April 2024
- INPST NA : InPost 2Q Sales 1.70B Zloty Vs. 857.6M Zloty Y/y
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- EAPI FP : EuroAPI 1H Ebitda EU70.3M Vs. EU58.5M Y/y
- EXO IM : Buzzi to Be Added to FTSE MIB Index, Replacing Exor
- LHA GY : Pilots at Lufthansa Unit Eurowings Vote to Strike on Jobs, Hours
- LHA GY : Lufthansa Pilot Union Calls for One-Day Strike on Friday
- MC FP : Watch Luxury Stocks After China Locks Down Megacity Chengdu
- EGL PL : Mota-Engil 1H Net Income EU12M Vs. EU9M Y/y
- NOVOB DC : Novo Nordisk to Pay $6.3m to Resolve Allegations, US DOJ Says
- RI FP : Pernod Ricard FY Recurring Operating Income Beats Estimates
- PRU LN : Prudential Names Don Guo as Group Chief Investment Officer
- RNO FP : French Aug. New Car Registrations Rise 3.8%: PFA
- CFR SW : Some Richemont Investors Set to Vote Against Bluebell Plan: FT
- RIO LN : Rio Tinto to Buy Remaining Turquoise Hill Stake for $3.3 Billion
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- P4F GY : Seadrill 2Q Adjusted Ebitda $75M Vs. $78M Q/Q
- SHEL LN : Shell Restarts Prelude LNG Plant in Australia After Outage
- STM FP : Nvidia Declines on Warning That China Restriction May Hurt Sales
- TSLA US : SpaceX Gets $1.44b NASA Order for More Space Station Missions
- TPRO IM : Technoprobe Appoints Beretta as New CFO Starting From October 1