{"id":137632,"date":"2018-11-20T06:36:01","date_gmt":"2018-11-20T11:36:01","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=137632"},"modified":"2018-11-20T06:36:01","modified_gmt":"2018-11-20T11:36:01","slug":"technology-selloff-pushes-us-markets-lower","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/11\/technology-selloff-pushes-us-markets-lower\/","title":{"rendered":"Technology selloff pushes US markets lower"},"content":{"rendered":"
November 20, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dollar weakening slows<\/h2>\n<\/div>\n<\/div>\n

US stocks <\/b> sold off on Monday led by technology shares. The S&P 500 <\/em> fell 1.7% to 2690.73. Dow Jones <\/a> industrial lost 1.6% to 25017.44. The Nasdaq <\/em> composite index dropped 3% to 7028.48 led by Apple down 4%. The dollar weakening slowed: 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, lost 0.3% to 96.15 but is higher currently. Futures on stock indices point to lower openings today.<\/p>\n

\"Nd100<\/p>\n

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Technology stocks have been under pressure on US-China trade war concerns as many US companies have supply chains established in China. Treasury yields declined with increased demand for heaven asset after stocks retreat accelerated following disappointing home builder data: the National Association of Home Builder’s monthly confidence index fell 8 points to 60 in November, the lowest overall reading in more than two years.<\/p>\n<\/div>\n<\/div>\n

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DAX 30 fell more than other European indices<\/h2>\n<\/div>\n<\/div>\n

European stocks <\/b> extended losses on Monday. As investors await what European Union response will be to Italy\u2019s 2019 budget plan with a deficit that Brussels insists violates block\u2019s rules, Italy\u2019s Deputy Prime Minister Matteo Salvini has said euro-zone reform due to be presented by France and Germany were unlikely to get Italy\u2019s backing. Both EUR\/USD <\/em> and GBP\/USD <\/em> slowed their climbs with Pound currently lower while euro higher against the dollar. The Stoxx Europe 600 index fell 0.7%. The DAX 30 <\/em> dropped 0.9% to 11244.54 and France\u2019s CAC 40 <\/em> lost 0.8%. UK\u2019s FTSE 100 <\/a> slid 0.2% to 7000.89.<\/p>\n

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Shanghai Composite leads Asian indices losses<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are in negative territory after a slump on Wall Street overnight. Nikkei <\/em> fell 1.1% to 21583.12 despite a yen turn lower against the dollar. Chinese shares are falling: the Shanghai Composite Index <\/em> is down 2.1% and Hong Kong\u2019s Hang Seng <\/em> Index is 2% lower. Australia\u2019s All Ordinaries Index retreated another 0.4% despite continued Australian dollar decline against the greenback.<\/p>\n

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Brent <\/a> down<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices <\/b> are edging lower today with traders weighing the impact of financial markets\u2019 downturn on oil demand. Prices ended marginally higher yesterday: January Brent crude added 2 cents to $66.78 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 weakening slows US stocks sold off on Monday led by technology shares. The S&P 500 fell 1.7% to 2690.73. Dow Jones industrial lost 1.6% to 25017.44. The Nasdaq composite index dropped 3% to 7028.48 led by Apple down 4%. The dollar weakening slowed: the live dollar index data show the ICE US […]<\/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-137632","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/137632","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=137632"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/137632\/revisions"}],"predecessor-version":[{"id":137637,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/137632\/revisions\/137637"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=137632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=137632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=137632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}