US stocks tumbled on Monday in thin trade, with the S&P 500 posting its biggest daily decline in four weeks, as soaring coronavirus cases and uncertainty about a fiscal relief bill in Washington dimmed the outlook for the US economic recovery.
Tuesday, 27th October, 2020
China stocks ended lower on Monday, dragged down by the consumer sector after the country's largest liquor maker Kweichow Moutai posted slower-than-expected growth in quarterly profit. At the close, the Shanghai Composite index was down 0.82 percent at 3,251.12, while the blue-chip CSI300 index was down 0.58 percent. In Hong Kong, the Hang Seng lifted 132.68 points or 0.54 percent to 24,918.78. In Tokyo, the Nikkei 225 eased 22.25 points or 0.09 percent to 23,494.34.
German shares closed at their lowest in nearly four months on Monday as Europe's most valuable tech firm, SAP, experienced its worst trading day in 24 years after cutting its 2020 outlook. The German DAX fell 3.7 percent as SAP slumped almost 22 percent after abandoning medium-term profitability targets and cautioning that its business would take longer than expected to recover from the pandemic hit.
US stocks tumbled on Monday in thin trade, with the S&P 500 posting its biggest daily decline in four weeks, as soaring coronavirus cases and uncertainty about a fiscal relief bill in Washington dimmed the outlook for the US economic recovery. The US, Russia and France set daily records for coronavirus infections. The number of hospitalised Americans with covid-19 jumped to a two-month high. Travel-related stocks, vulnerable to covid-19 related curbs, fell sharply. The S&P 1500 airlines index fell about 6 percent and cruise line operators Carnival Corp and Royal Caribbean Cruises Ltd fell more than that.
The Dow Jones Industrial Average fell 647.1 points, or 2.28 percent, to 27,688.47, the S&P 500 lost 64.15 points, or 1.85 percent, to 3,401.24 and the Nasdaq Composite dropped 189.35 points, or 1.64 percent, to 11,358.94.
Ahead of the local open SPI futures are 55 points lower at 6095.
|Foreign Equities||Close||Change||% Change|
|Dow Jones (US)||
|FTSE 100 Index||5792||-68||-1.16|
|Nikkei 225 (Japan)||23494||-22||-0.09|
|Oil - West Texas||/bbl||38.6||-1.3||
|Currency||Close||Pts Change||% Change|
|$A vs $US||0.7119||-0.0012||-0.16|
|$A vs GBP||0.5467||0.0007||0.12|
|$A vs EUR||0.6027||0.0010||0.16|
|$A vs YEN||74.64||
|$A vs NZD||1.0648||-0.0013||-0.12|