Are Global Markets Signaling Pessimism? Asia And Europe Markets Dip, Crude Touches $90, Gold Hovers Near $2,000
Portfolio Pulse from Akanksha Bakshi
Global markets are showing signs of pessimism with Asia and Europe markets dipping, crude oil prices touching $90, and gold hovering near $2,000. The U.S. stock markets ended lower on October 19 due to rising treasury yields. The Dow Jones, S&P 500, and Nasdaq Composite all declined. Asian markets also closed lower, with Japan's Nikkei 225, Australia's S&P/ASX 200, China's Shanghai Composite, and Hong Kong's Hang Seng Index all experiencing declines. European markets were also down, with the STOXX 600, DAX, CAC, and FTSE 100 all trading lower.
October 20, 2023 | 11:09 am
News sentiment analysis
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NEGATIVE IMPACT
The S&P 500, tracked by the SPY ETF, dipped 0.85% to 4,278.00 due to rising treasury yields.
The rise in treasury yields is causing a decline in the stock market, which is negatively impacting the S&P 500 and the SPY ETF that tracks it.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Gold, tracked by the GLD ETF, is trading higher by 0.78% at $1,995.85 amid market pessimism.
The pessimism in the market is causing investors to turn to safe-haven assets like gold, which is positively impacting the GLD ETF that tracks it.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Crude Oil, tracked by the USO ETF, is trading higher by 1.28% at $89.53/bbl amid market pessimism.
The pessimism in the market is causing investors to turn to commodities like crude oil, which is positively impacting the USO ETF that tracks it.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100