Fear of debt ceiling in America panics the global market, mixed business in Asia. Loktej Business News
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New Delhi, May 17 (Hindustan Times). The global market is jittery over the possibility of a debt ceiling in the US. Weak signals are still being received from the global market today. In the last trading session, all three Wall Street indices closed with losses. The European market also remained under constant pressure. All the three indices here also ended their business in the red. There is a mixed situation in the markets of Asia today. Apart from India, only three of the stock markets in Asia are trading strongly in the green mark. The trend of decline in the remaining six markets continues.
During the last trading session, Wall Street remained under pressure from the beginning, due to which a decline of up to one percent was recorded. The Dow Jones closed at 33,012.14, down 336.46 points, or 1.01 percent. Similarly, the S&P 500 index ended the previous session’s trading at a level of 4,109.90 points with a weakness of 0.64 percent. Apart from this, the Nasdaq closed at a level of 12,343.05 points with a decline of 0.18 percent.
US Congress leaders are in talks on the date ceiling of US President Joe Biden. It is believed that by the end of this week, a formula will be decided on the debt ceiling. Apart from the issue of debt ceiling, poor results of companies also worked to put pressure on the US market during the trading session of the previous session. Home Depot’s results showed a four percent decline in the company’s earnings. It is believed that the company’s income may fall by two to five percent. The margin of the company may also decrease by up to 14 per cent. Apart from this, a big decline in the earnings of SEA, one of the world’s largest Internet companies, has also been recorded, due to which its shares have fallen by about 18 percent in the last trading session.
European markets also continued to trade under pressure during the previous session. The FTSE index closed at 7,751.08 points, down 0.34 per cent. Similarly, the CAC index ended the previous session’s trading at a level of 7,406.01 points with a weakness of 0.16 percent. Apart from this, the DAX index closed at a level of 15,897.93 points with a decline of 0.12 percent.
Asian markets are also under pressure since this morning. Apart from India, out of nine markets in Asia, only three markets are currently trading strongly. The Nikkei index is trading at a level of 30,085.90 points with a gain of 242.91 points, or 0.81 percent. Similarly, the Taiwan Weighted Index jumped 171.5, or 1.10 percent, to the level of 15,845.71 points. Apart from this, the Kospi index is seen trading at a level of 2,495.06 points with a strength of 0.60 percent.
On the other hand, SGX Nifty is trading at 18,308 points, down 0.12 percent. Similarly, the Straits Times Index declined by 1.02 percent to 3,181.39 points. The Hang Seng index has also registered a decline of 0.42 percent in the business so far. This index is currently trading at the level of 19,894.91 points. Apart from this, the Set Composite Index is trading at a level of 1,531.32 points with a weakness of 0.55 percent, Jakarta Composite Index fell 0.07 percent to 6,672.15 points and Shanghai Composite Index lost 0.25 percent to 3,282.84 points.
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