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BackEuropean stock markets in the red after Wall Street's slide. Asian markets take a nosedive: Tokyo comes close to -6%
European stock markets in the red after Wall Street's slide. Asian markets take a nosedive: Tokyo comes close to -6%
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ANSA Economia11 minutes agoBusiness1 min readItalyView original

European stock markets in the red after Wall Street's slide. Asian markets take a nosedive: Tokyo comes close to -6%

Climate of nervousness on global markets: heavy losses in Tokyo and Seoul, uncertainty on Wall Street

Quick Look

  • Bad day for European and Asian stock markets.
  • The fears linked to the US elections and the decline on Wall Street are weighing heavily.
  • The stock markets in Tokyo and Seoul collapse, while in Europe Milan and the main markets record significant losses.

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Why It Matters

Global markets react negatively to the expected results of the US elections and the decline on Wall Street.

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Stock markets in the Old Continent are negative in a very nervous climate: amidst various fluctuations, the London and Frankfurt stock markets lost two percentage points, with Paris losing 1.6%.

Between attempts to contain losses and new sales trends, Milan is moving towards losses just over one percentage point. Nexi is bad, losing 3.9%, with Saipem down by around three points and Generali down 2.8%. Btp-Bund spread calm at 110 basis points, euro down (-0.4%) to 1.117 against the dollar.

Wall Street startup futures remain uncertain.

Asian and Pacific stock markets also all closed lower in the wake of Wall Street's slide and fears linked to the results of the US elections, which among other things could slow down investments in data centers dedicated to artificial intelligence. The heaviest markets are Seoul, which lost 6% net, and Tokyo, which fell by 5.9%.

Chinese stock markets were also negative, with Shenzhen losing 2.2% and Shanghai 1.1%. Hong Kong fell by 1.2%, while Sydney limited the decline to half a percentage point. Futures on the start of European stock markets are negative, while those on Wall Street are still uncertain.

The Tokyo Stock Exchange ends the session with the reference index below 60,000 points for the first time in about five and a half months.

The Nikkei reference price list fell by 5.96% to 57,434.77, with a loss of 3,643 points. On the currency market, the yen strengthens against the dollar at 157.80, and against the euro at 176.70.

Open Questions

  • What will be the real impact of the US elections on investments in AI?
  • Will European markets be able to stabilize in the next few sessions?

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This article was originally published by ANSA Economia.

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