Lola Evans
14 Jan 2022, 07:49 GMT+10
NEW YORK, New York - Major falls in Amazon and Microsoft undermined U.S. stocks on Thursday.
The technology sector took the brunt of the selling as investors continued to fret over inflation. A day after the CPI hit an annualized 7 percent, the December producer price index was revealed to have risen 0.20 percent month over month.
"We do not think the returns from many financial assets will be as good in 2022 as they were in 2021," John Higgins, chief markets economist at Capital Economics told Reuters news agency Thursday.
"For a start, we envisage a sell-off in government bonds in most places, reflecting the outlook for monetary policy. And, in general, we foresee an underwhelming performance from equities, including in the United States and China."
The Nasdaq Composite was the worst-hit index, shedding 381.58 points or 2.51 percent to 14,806.81.
The Standard and Poor's 500 slumped 67.32 points or 1.42 percent to 4,659.03.
The Dow Jones Industrial Average reversed a 200-points gain to end 176.70 points or 0.49 percent lower at 36,113.62.
The U.S. dollar was little changed Thursday, sellers however held sway. The euro held on to recent gains to last trade Thursday in New York at 1.1454. The British pound was steady at 1.3708. The Japanese yen edged up to 114.15. The Swiss franc was well bid at 0.9112.
The Canadian dollar fell a few basis points to 1.2516. The Australian dollar was slightly softer at 0.7280. The New Zealand dollar dipped to 0.6865.
Overseas, the FTSE 100 in London climbed 0.16 percent. The Dax in Germany added 0.13 percent. In Paris, the CAC 40 slid 0.50 percent.
The Nikkei 225 in Tokyo shed 276.53 points or 0.96 percent to 29,489.33.
China's Shanghai Composite fell 42.17 points or 1.17 percent to 3,555.26.
In Hong Kong, the Hang Seng reversed earlier losses to close 27.60 points or 0.11 percent higher at 24,429.77.
The Australian All Ordinaries, going against the trend, advanced 35.30 points or 0.45 percent to 7,797.50. This despite Australia's most populated state, New South Wales, recording a record 92,264 Covid-19 cases in the prior 24 hours.
Get a daily dose of Albuquerque Express news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Albuquerque Express.
More InformationLOS ANGELES, California: During a meeting that was disrupted by protesters this week, the Los Angeles City Council voted to ...
WASHINGTON D.C.: The U.S. Justice Department announced this week that former Puerto Rico governor Wanda Vazquez has been arrested in ...
OTTAWA, Ontario: Military trainers from Canada will head to the United Kingdom to teach Ukrainians new techniques for fighting the ...
SANYA, China: Following a Covid lockdown, some 80,000 tourists cannot leave the southern Chinese beach resort of Sanya. The restrictions ...
SANTA BARBARA, California - Australian singing sensation and actress Olivia Newtown-John has died at the age of 73."Dame Olivia Newton-John ...
DEATH VALLEY NATIONAL PARK, California: Record rainfall on August 5 caused floods at Death Valley National Park that closed all ...
SYDNEY, NSW, 2000 - Stocks in Asia, with the exception of Japan, rallied on Thursday following the release of July ...
LOS ANGELES, California: Since early May, Charlie Hamilton has not irrigated his vineyards with water from the Sacramento River, despite ...
YANGON, Myanmar - Honeys Holdings, a Japanese clothing retailer that manufactures much of its product line in Myanmar, has decided ...
NEW YORK, New York - U.S. stocks rose sharply on Wednesday despite the latest reading that inflation in the United ...
DELHI, India: India's defense ministry has said that the country has offered to sell 18 Tejas light single-engine jet combat ...
WARSAW, Poland: Julie, who preferred not to give her full name, booked a group of trips to Warsaw last year, ...