FED:AAP Markets Report on Wednesday MARKETS WRAP FINAL
SYDNEY, Oct 9 AAP - Markets Report on Wednesday:
INDEX MOVE CLOSE Dow Jones -159.71 14776.53 S&P500 -20.67 1655.45 Nasda -75.54 3694.83 FTSE100 -71.45 6365.83 Dax -35.69 8555.89 CAC40 -32.05 4133.53 Shanghai 23.53 2198.20 Hang Seng 204.9 23178.85 Nikkei225 41.29 13894.61 NZX 50 -17.366 4738.678 S&P/ASX200 -11.7 5149.4 All Ords -12.5 5148.1 SPI Contract* -40 5102 CURRENCIES*: CLOSE AUD/USD 0.9425 EUR/USD 1.3573 USD/YEN 96.87 NZD/USD 0.8294 METALS: MOVE CLOSE Gold/$USoz -0.50 1324.60 Silver/$USoz 0.057 22.443 Copper/$USlb -.0040 3.2925 LME/$UStonne: MOVE 3MTHS Copper -5.50 7239.5 Tin -75.0 23600 Lead 31.00 2093 Zinc 9 1885 Aluminium 11 1865 Nickel -60 13900 OIL: MOVE CLOSE Brent Crude 0.48 110.16 WTC Crude/$Usbrl 0.46 103.49 * still trading ** preliminary close
(Gold, silver and copper are December contract; oils are November contract) Sourcedata: Reuters/Dow Jones
NEW YORK - US stocks sank and short-term bond yields jumped as the stalemate in Washington over passing a budget and raising the debt ceiling takes a deeper toll on financial markets.
The Dow Jones Industrial Average fell 159.71 (1.07 per cent) to 14,776.45.
The broad-based S&P 500 sank 20.67 (1.23 per cent) to 1,655.51, while the tech-rich Nasdaq Composite Index plummeted 75.54 (2.00 per cent) to 3,694.83.
Investors also sold off short term bonds, sending the yield on the one month Treasury note to 0.31 per cent, its highest level since 2008, up from 0.15 per cent on Monday.
That reflected growing nervousness about the potential for the government to default on some obligations if the debt ceiling is not hiked by October 17.
LONDON - Europe's major stock markets have slid further, as the US budget standoff enters its eighth day with no end in sight, stoking worries of a catastrophic default.
Meanwhile, the US dollar stabilised against the euro and rose against the yen, while the price of gold climbed.
London's benchmark FTSE 100 index fell 1.11 per cent to 6,365.83 points on Tuesday, Frankfurt's DAX 30 shed 0.42 per cent to 8,555.89 points, while the CAC 40 in Paris dropped 0.77 per cent to 4,133.53 points.
The euro edged down to $US1.3578 from $US1.3579.
HONG KONG - Asian stocks rose on bargain hunting after two days of losses, but dealers remain nervous that the US budget stand-off shows no signs of being solved, fuelling fears Washington will suffer a catastrophic default.
Despite Republicans and Democrats digging in their heels and raising the stakes in the Capitol Hill deadlock the US dollar rebounded against the yen, lifting Japanese exporters.
Tokyo added 0.30 per cent, or 41.29 points to 13,894.61 and Seoul was up 0.42 percent, or 8.34 points, at 2,002.76 but Sydney slipped 0.23 per cent, or 11.7 points, to 5,149.4.
Hong Kong was 0.89 percent higher, adding 204.90 points to 23,178.85 and Shanghai climbed 1.08 per cent, or 23.53 points, to 2,198.20 in the first session after a week-long Chinese holiday.
WELLINGTON - The NZX 50 Index fell 17.366 points, or 0.4 per cent, to 4738.678.
SYDNEY - The Australian market looks set to open lower following falls on international markets as the US budget standoff enters its eighth day with no end in sight, stoking worries of a catastrophic default.