Global market under the pressure of US debt crisis, slowdown in Asia too. Loktej Business News
New Delhi, 26 May (Hindustan Times). Today once again there is a sign of pressure from the global market. There is constant pressure due to the uncertainty surrounding the debt crisis in the US. All the three indices of Wall Street were seen trading with a decline during the trading session of the previous session. However, due to the strong performance of the software company N-Video, the 2 indices of the US market also made a tremendous jump in the last minute. US futures are also under pressure today. Similarly, the European market also remained under constant pressure during the trading session of the previous session. Asian markets are also generally seen trading under pressure today.
The uncertainty surrounding the debt crisis has kept Wall Street under constant pressure for the past several days. Because of this, the Dow Jones closed at a level of 32,764.65 points with a weakness of 0.11 percent in the previous trading session. On the other hand, the S&P 500 index ended the previous session at 4,151.28 points with a jump of 0.88 percent due to a 24 percent rally in N-Video’s stock in the last phase of the trading session. Similarly, Nasdaq gained 213.93 points, or 1.71 percent, to close at 12,698.09 points with the support of the rise in N-Video.
Experts believe that the US administration is continuously trying to reach a meaningful conclusion regarding the debt ceiling, but due to no decision so far, there is confusion in the market. Only yesterday, in his statement on debt selling, President Joe Biden had said that several rounds of talks have taken place on this issue and so far the talks seem fruitful. On the other hand, Republican Speaker Kevin McCarthy has said in his statement that the two sides are trying to reduce the differences regarding the debt ceiling, but so far the matter has not reached the level of any concrete agreement. It is believed that due to this uncertainty, there is constant tension in the US market.
The effect of tension in the US market was also visible in the European market during the last trading session. The FTSE index closed at 7,570.87, down 56.23 points, or 0.74 percent. Similarly, the CAC index ended the previous session’s trade at 7,229.27 points, down 0.33 percent. Apart from this, the DAX index lost 0.31 percent and closed at the level of 15,793.80 points.
Asian markets are also generally under pressure today. Apart from India, out of 9 markets in Asia, only 3 indices are trading strongly, while 6 indices have fallen to the red mark. The Nikkei index is trading at a level of 30,995.95 points with a gain of 194.82 points, or 0.63 percent. Similarly, the Taiwan Weighted Index gained 195.38 points, ie 1.20 percent, to 16,487.31 points and the Kospi index, with a strength of 0.17 percent, is currently trading at the level of 2,559.2 points.
On the other hand, SGX Nifty is trading at a level of 18,449.50 points with a weakness of 0.09 percent. Similarly, the Straits Times Index slipped 0.04 percent and is trading at the level of 3,206.53 points. Today once again there has been a big decline in the Hang Seng index. This index is trading at the level of 18,746.92 points, falling 369.01 points i.e. 1.97 percent. Apart from this, the Set Composite Index fell 0.27 percent to 1,531.21 points, the Jakarta Composite Index was down 0.10 percent to 6,697.24 points and the Shanghai Composite Index was trading down 0.14 percent to 3,196.89 points.