Global Markets:
- Asian Stock Markets : Nikkei down 2.22%, Shanghai Composite up 0.46, Hang Seng down 0.19% ASX down 0.61%
- Commodities : Gold at $1995.05 (0.05%), Silver at $23.067 (+0.29%), Brent Oil at $89.46 (-0.79%), WTI Oil at $84.69 (-0.87%)
- Rates : US 10-year yield at 4.979, UK 10-year yield at 4.655, Germany 10-year yield at 2.916
News & Data:
- (USD) New Home Sales 759K vs 678K expected
- (CAD) Overnight Rate 5.00% vs 5.00 % expected
Markets Update:
The Asian markets saw a widespread sell-off, with Japan and South Korea leading the losses. South Korea’s Kospi index dropped 2.23%, and the Kosdaq index shed 3.45% after chip supplier SK Hynix reported a net loss of $1.61 billion for the third quarter, a stark contrast to the previous year’s profit. South Korea’s GDP grew slightly faster than expected, rising 0.6% in the third quarter.
In Australia, the S&P/ASX 200 closed 0.61% lower at 6,812.30, hitting its lowest point in over a year. In Japan, the Nikkei 225 fell by 2.22%, and the Topix index dropped 1.25%. Hong Kong’s Hang Seng index dipped 0.19%, while China’s benchmark CSI 300 index decreased by 0.60%.
The S&P 500 in the United States closed below the 4,200 level, falling 1.43%, a response to disappointing quarterly results from Alphabet (Google’s parent company) and a rebound in interest rates. This marked the first time the S&P 500 closed below this threshold since May. Simultaneously, the Dow Jones Industrial Average fell by 105.45 points, and the Nasdaq Composite lost 2.43%.
Upcoming Events:
- 12:15 PM GMT – EUR Main Refinancing Rate
- 12:30 PM GMT – USD Advance GDP q/q
- 12:30 PM GMT – USD Unemployment Claims
- 12:30 PM GMT – USD Advance GDP Price Index q/q
- 12:30 PM GMT – USD Core Durable Goods Orders m/m
- 12:45 PM GMT – EUR ECB Press Conference
- 2:00 PM GMT – USD Pending Home Sales m/m
- 2:30 PM GMT – USD Natural Gas Storage
