Global market shaken by America’s debt crisis, Asian markets also declined. Loktej Business News
New Delhi, 25 May (Hindustan Times). Due to the debt crisis in America, there are signs of weakness in the global market. Wall Street closed with losses in the previous trading session. European markets also fell by around 2 per cent. Asian markets also have a generally declining trend today. Although Nikkei and Taiwan Weighted Index are seen trading with an edge.
Debt dealing crisis in the US is becoming a major cause of stress for the US economy, due to which all three Wall Street indices closed down in the last trading session. The Dow Jones closed at 32,799.92, down 255.59 points, or 0.77 percent. Similarly, the S&P 500 index ended the previous session’s trading at a level of 4,115.24 points with a weakness of 0.73 percent. Apart from this, the Nasdaq fell 76.08 points, ie 0.61 percent, to close at the level of 12,484.16 points.
The impact of the debt dealing crisis in the US remained a cause of pressure throughout the trading session. Along with this, due to the warning of credit rating agency Fitch, there has been pressure on the market. Fitch has put America on negative watch list with ‘AAA’ rating. It has been said on behalf of Fitch that the decision on debt dealing has not yet been taken, it simply means that the US government can also default on some payments. Due to this comment of Fitch, a decline was also recorded in US stock futures. However, Fitch has also expressed the hope that by June 1, the US government will be able to take a decision regarding debt dealing.
European markets were also seen trading under pressure during the last trading session amidst pessimistic sentiment. The FTSE index closed at 7,627.10 with a loss of 135.85 points, or 1.78 percent. Similarly, the CAC index lost 125.25 points, or 1.73 percent, to end the previous session’s trade at 7,253.46 points. Apart from this, the DAX index closed at a level of 15,842.13 points with a decline of 310.73 points, ie 1.96 percent.
There is constant pressure in the Asian markets today. Apart from India, 7 out of 9 markets in Asia are trading in the red mark with the index declining. The same strength is visible in the business so far in only 2 indices. The Nikkei index is trading at the level of 30,867.64 points with a strength of 184.96 points i.e. 0.60 percent. Similarly, the Taiwan Weighted Index has gained 110.64 points, or 0.68 percent, to reach the level of 16,269.96 points at present.
On the other hand, SGX Nifty is trading at a level of 18,275.50 points with a weakness of 0.05 percent. Similarly, the Straits Times Index remained at the level of 3,208.09 points with a decline of 0.19 percent. The Hang Seng index has recorded a decline of 2.04 percent so far today. At present, this index has lost 390.02 points and is trading at the level of 18,725.91 points. Apart from this, the Kospi index fell 0.42 percent to 2,556.65 points, the Set Composite index slipped 0.17 percent to 1,533.84 points, the Jakarta Composite index declined 0.30 percent to 6,725.60 points and the Shanghai Composite index declined 0.66 percent. Also trading at the level of 3,183.75 points.