{"id":137095,"date":"2018-11-13T06:39:51","date_gmt":"2018-11-13T11:39:51","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=137095"},"modified":"2018-11-13T06:39:51","modified_gmt":"2018-11-13T11:39:51","slug":"technology-shares-lead-us-stocks-selloff","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/11\/technology-shares-lead-us-stocks-selloff\/","title":{"rendered":"Technology shares lead US stocks selloff"},"content":{"rendered":"
November 13, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dollar strengthens to year-and-half high<\/h2>\n<\/div>\n<\/div>\n

US equities <\/b> sold off on Monday led by technology shares. The S&P 500 <\/em> fell 2% to 2726.22. Dow Jones <\/a> industrial lost 2.3% to 25387.18. The Nasdaq <\/em> composite index dropped 2.8% to 7200.87 led by Apple down 5%. The dollar strengthening accelerated: the live dollar index<\/a> data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, jumped 0.8% to 97.63, one and half year high but is lower currently. Futures on stock indices indicate higher openings today.<\/p>\n

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European stocks open mostly higher<\/h2>\n<\/div>\n<\/div>\n

European stocks <\/b> extended losses on Monday on concerns about Italy budget deficit and lack of progress in Brexit negotiations. Both EUR\/USD <\/em> and GBP\/USD <\/em> accelerated declines but are gaining currently. The Stoxx Europe 600 index fell 1%. The DAX 30 <\/em> dropped 1.8% to 11325.44 and France\u2019s CAC 40 <\/em> lost 1%. UK\u2019s FTSE 100 <\/a> slid 0.7% to 7053.08. Indices opened flat to 0.4% higher today.<\/p>\n

\"DE30<\/p>\n

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Italy\u2019s budget deficit concerns came to fore again. Today is the last day Italy can submit a revised budget proposal to the European Union. The first proposal with a budget deficit target of 2.4% of GDP in 2019 was rejected by the EU, but Italy\u2019s government said it could not revise the budget deficit target. If no change is resubmitted today the EU is expected to open an excessive deficit procedure and apply sanctions against Italy.<\/p>\n<\/div>\n<\/div>\n

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Chinese shares extend gains<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are mixed today. Nikkei <\/em> fell 2.1% to 22810.52 as yen continued slide against the dollar. Chinese shares are higher on news China\u2019s top trade negotiator Liu He may visit Washington as part of the preparations for the talks between US President Donald Trump and his Chinese counterpart Xi Jinping on the sidelines of the G20 summit in Argentina later this month: the Shanghai Composite Index <\/em> is up 1% while Hong Kong\u2019s Hang Seng <\/em> Index is 0.2% lower. Australia\u2019s All Ordinaries Index turned 1.8% lower as the Australian dollar turned higher against the greenback.<\/p>\n

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Brent <\/a> down after Trump tweet<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices <\/b> are edging higher today. Prices extended losses yesterday after President Trump tweeted he hoped Saudi Arabia and OPEC woldn\u2019t cut oil production and prices should be much lower based on supply: January Brent crude slipped 0.1% to $70.12 a barrel on Monday.<\/p>\n

\nMarket Analysis provided by IFCMarkets<\/a><\/p>

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Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Dollar strengthens to year-and-half high US equities sold off on Monday led by technology shares. The S&P 500 fell 2% to 2726.22. Dow Jones industrial lost 2.3% to 25387.18. The Nasdaq composite index dropped 2.8% to 7200.87 led by Apple down 5%. The dollar strengthening accelerated: the live dollar index data show the […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-137095","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/137095","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=137095"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/137095\/revisions"}],"predecessor-version":[{"id":137103,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/137095\/revisions\/137103"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=137095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=137095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=137095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}