Search This Blog
money saving tips for canadians, best saving tips for canadians of all ages. MoneySavings and Canadian news, financial news
Featured
- Get link
- X
- Other Apps
Wall Street Wavers Amid Tech Sector Turmoil and China Trade Concerns
Wall Street experienced a mixed opening on Thursday, following a significant downturn in the technology sector due to escalating trade tensions with China. Premarket trading showed varied results, with the Dow Jones Industrial Average futures dipping by 0.2%, while S&P 500 futures rose by 0.2%. The tech-heavy Nasdaq, which had its worst day since 2022, managed a slight rebound of 0.4%.
The market’s volatility was largely driven by concerns over potential new trade restrictions. Reports indicated that U.S. President Joe Biden is considering stringent measures against companies like ASML and Tokyo Electron if they continue to supply advanced semiconductor technology to China. This news sent shockwaves through the tech sector, with shares of Tokyo Electron plummeting 8.8% and other chip-related stocks also taking a hit.
In addition to the tech sector’s woes, Domino’s Pizza saw a significant drop of over 10% after announcing lowered expectations for store openings this year. Conversely, Chuy’s Holdings surged by 47% following the announcement of its acquisition by Darden Restaurants in a $605 million deal.
European markets showed modest gains, with France’s CAC 40 up 0.5%, Germany’s DAX inching up 0.2%, and Britain’s FTSE 100 adding 0.6%. Meanwhile, Japan’s Nikkei 225 index closed down 2.4%, reflecting the broader concerns over trade and currency fluctuations.
As the day progresses, investors will be closely monitoring developments in trade policies and their potential impact on the global economy.
Popular Posts
Cash vs. Card: Making Smart Payment Choices
- Get link
- X
- Other Apps
Bank of Canada’s Interest Rate Decision: What to Expect and What It Means for Canadians
- Get link
- X
- Other Apps
Comments
Post a Comment