U.S. stocks sink, Nasdaq Composite sheds 385 points

Fri, 02 Jun 2023

U.S. stocks sink, Nasdaq Composite sheds 385 points

Lola Evans
22 Jan 2022, 07:59 GMT+10

Global stock markets reeled on Friday as interest rates fell and oil prices dived.
Technology shares continue to be shunned with the Nasdaq dropping 2.72 percent on Friday.
The U.S. dollar was largely lower in line with the fall in bond yields.

NEW YORK, New York - Global stock markets reeled on Friday as interest rates fell and oil prices dived.

Technology shares continue to be shunned with the Nasdaq dropping 2.72 percent on Friday, to close well below 14,000.

The U.S. dollar largely gained ground despite the fall in bond yields.

At the close Friday, the Dow Jones industrials were down 450.02 points or 1.30 percent at 34,265.37. It was the sixth day in a row that the benchmark index has fallen.

The Standard and Poor's 500 dropped 84.79 points or 1.89 percent to 4,397.94.

The Nasdaq Composite shed 385.10 points or 2.72 percent to 13,768.92, its lowest close since June last year.

The euro was steady at 1.1341. The British pound slumped to 1.3553 by the New York close Friday. The Swiss franc was stronger at 0.9121. The Japanese yen edged up to 113.64.

The Canadian dollar weakened to 1.2513. The Australian dollar was a fraction lower at 0.7175. The New Zealand dollar fell to 0.6712.

The FTSE 100 in London dropped 1.30 percent Friday. In Paris, the CAC 40 was down 1.75 percent. The German Dax declined 1.94 percent.

The Australian All Ordinaries tumbled 178.00 points or 2.33 percent to 7,490.10.

In Japan, the Nikkei 225 closed down 250.67 points or 0.90 percent at 27,522.26.

China's Shanghai Composite shed 32.50 points or 0.91 percent to 3,522.57.

In a surprise move, the Hang Seng in Hong Kong recovered from earlier losses in very late trading. In the end, it managed a 13.20 points or 0.05 percent gain to 24,965.55.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Kolkata Sun.

More Information

38 ℃

Haze in Kolkata/Bose

International

Section

Japan: PM's son resigns for holding party at official residence

TOKYO, Japan: After coming under public criticism for using Japanese Prime Minister Fumio Kishida's residence for a private party, his ...

Remains identified of US pilot from Pennsylvania killed during WWII

WASHINGTON D.C.: The Defense POW/MIA Accounting Agency has announced that 2nd Lt. James Litherland of South Williamsport, Pennsylvania, an Army ...

ACC sues Dr. Yunus, 12 others over embezzlement of $2,351,758

DHAKA, Bangladesh - The Anti-Corruption Commission (ACC) has filed a case against 13 members of Grameen Telecom's board of directors, ...

Washington coordinates 14-country supply chain agreement

WASHINGTON D.C.: The U.S. Commerce Department has said that trade ministers from 14 countries have taken part in the US-led ...

Injuries at Churchill Downs sees 12 horses dead in month

LOUISVILLE, Kentucky: Two horses that succumbed to their injuries at Churchill Downs have become the 11th and 12th fatalities over ...

Musk's Neuralink to begin trial human brain implants

FREMONT, California: Brain implant company Neuralink announced that it has received approval from US regulators to begin human brain implant ...

India

Section

India readies graft charges against BAE, Rolls-Royce for jet trainers

NEW DELHI, India: Indian federal police documents indicate that the country has filed a graft case against the UK's BAE ...

Dahal, Modi agree to expand trade, build Siliguri-Jhapa Petroleum Pipeline

NEW DELHI, India - Nepal's Prime Minister Pushpa Kamal Dahal met with Indian counterpart Narendra Modi at Hyderabad House in ...

Washington coordinates 14-country supply chain agreement

WASHINGTON D.C.: The U.S. Commerce Department has said that trade ministers from 14 countries have taken part in the US-led ...

Midea Group appoints Allen Zha as the Country Head for India operations

NewsVoirGurugram (Haryana) [India], June 2: Midea India Pvt. Ltd. announced the appointment of Allen Zha as the Country Head for ...

Beyond traditional paths: Exploring finance through new age courses

MediawireNew Delhi [India], June 2: Are you wondering what to pursue after 12th? Well you are not alone! As students ...

Disturbances in Kosovo won't affect visit of President Murmu to Serbia: MEA

New Delhi [India], June 2 (ANI): India does not recognize the declaration of independence of Kosovo, Ministry of External Affairs ...

Movie Review

The Past (Le pass)

Past