Asian Market Brief: APR 22 (WED)

On Tuesday U.S. stocks fell for a second session, as sentiment was still impacted by the dim economic outlook reflected by plunging oil prices....

Trading floor 2

On Tuesday U.S. stocks fell for a second session, as sentiment was still impacted by the dim economic outlook reflected by plunging oil prices.

The Dow Jones Industrial Average lost 631 points (-2.7%) to 23,018, the S&P 500 slid 86 points (-3.1%) to 2,736, and the Nasdaq 100 shed 323 points (-3.7%) to 8,403.

Nasdaq 100 Daily Chart: Watch Key Support at 8250


Source: GAIN Capital, TradingView


Semiconductors & Semiconductor Equipment (-4.93%), Software & Services (-4.12%) and Automobiles & Components (-3.78%) sectors suffered the biggest losses.

Fortinet (FTNT, -9.9%), Lam Research (LRCX, -8.7%), Salesforce.com (CRM, -7.5%), Advanced Micro Devices (AMD, -7.1%) and Philip Morris International (PM, -6.0%) were the top losers.

Netflix (NFLX, -0.8%) reported after trading hours that it added 15.8 million subscribers in the first quarter, up 22% on year and much better than its own projection of 7.2 million.

U.S. official data showed that Existing Homes Sales fell to an annualized rate of 5.27 million units in March (5.25 million units expected).

European stocks slumped, with the Stoxx Europe 600 Index falling 3.4%. Germany's DAX shed 4.0%, the U.K.'s FTSE 100 sank 3.0%, and France's CAC was down 3.8%.

U.S. Treasury prices advanced as investors continued to seek safe-haven assets. The benchmark 10-year U.S. Treasury yield declined to 0.571% from 0.625% Monday.

Spot gold dropped 9 dollars (-0.6%) to $1,684 an ounce.

The May contract for West Texas Intermediate (WTI) futures, which closed at a historic level of minus-$37.63 a barrel on Monday, climbed to expire at $10.01 a barrel on Tuesday.

The June WTI contract tumbled 38.2% to $13.12 a barrel, and Brent crude oil futures plunged 24.0% to $29.33 a barrel.

Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.