Global Statistics

All countries
244,107,646
Confirmed
Updated on 24/10/2021 2:27 am
All countries
219,453,147
Recovered
Updated on 24/10/2021 2:27 am
All countries
4,959,373
Deaths
Updated on 24/10/2021 2:27 am

Global Statistics

All countries
244,107,646
Confirmed
Updated on 24/10/2021 2:27 am
All countries
219,453,147
Recovered
Updated on 24/10/2021 2:27 am
All countries
4,959,373
Deaths
Updated on 24/10/2021 2:27 am

Asian Markets Pull Back After Weekly Wall Street Loss

Stocks fell Monday in most Asian markets after Wall Street benchmarks ended last week lower.

Nikkei 225 NIK from Tokyo,
+ 0.22%
decreased 0.3% and the Hang Seng HSI,
-1.81%
in Hong Kong it lost 1.8%. In Seoul, the Kospi 180721,
+ 0.07%
fell 0.1%, while the S & P / ASX 200 XJO,
+ 0.25%
collected 0.2%. The Shanghai SHCOMP Composite Index,
+ 0.33%
gained 0.1%.

Shares fell in Taiwan Y9999,
-0.16%,
Singapore STI,
-0.83%
and Indonesia JAKIDX,
-0.39%.

Japan reported that its wholesale prices were near a 13-year high in August, adding to concerns about inflation as the country prepares for a leadership transition.

Prices have skyrocketed in the world’s three largest economies and elsewhere as supply chain problems, shipping bottlenecks and other disruptions stemming from the pandemic hamper a return to normal growth.

“The cautious sentiments largely follow the downward movement of US markets last week, amid growth concerns coupled with mounting inflationary pressures,” said Jun Rong Yeap of IG in a comment.

Price pressures increase the likelihood that the Federal Reserve and other central banks will move earlier to boost interest rates from the ultra-low levels they have been holding to help fend off the worst impacts of the pandemic.

On Friday, stocks fell and the S&P 500 lost 0.8% for its fifth straight decline, ending 1.7% lower for the week.

Stocks have traded in a tight range for several weeks as many investors stand on the sidelines hoping to gain a fuller understanding of where the economy is heading and how the pandemic is affecting businesses.

The S&P 500 SPX,
-0.77%
it fell 34.70 points to 4,458.58. The Dow Jones Industrial Average DJIA,
-0.78%
lost 0.8% to 34,607.72. The high-tech Nasdaq Composite COMP,
-0.87%
decreased 0.9%, to 15,115.49.

The yield on the 10-year Treasury note remained stable at 1.33%.

US wholesale inflation rose 8.3% last month since August 2020, the biggest annual gain since the Labor Department began calculating the 12-month figure in 2010.

Federal Reserve lawmakers have said they believe this year’s inflation will be temporary and is the result of the economy’s recovery from the pandemic. However, persistently high inflation could force the Fed to begin to backtrack on its bond buying program and low interest rate policy earlier than expected.

The pandemic remains at the forefront of investors’ minds, as hospitals fill up in the south and other parts of the country. President Joe Biden announced Thursday that companies with more than 100 employees will need to vaccinate their employees or take weekly tests, an announcement that large companies have been willing to accept.

In other Monday trading, US benchmark CLV21 crude oil,
+ 0.55%
added 39 cents to $ 70.11 a barrel in e-commerce on the New York Mercantile Exchange. It rose $ 1.58 to $ 69.72 a barrel on Friday.

Crude Brent BRNX21,
+ 0.52%,
the international price standard rose 37 cents to $ 73.29 a barrel.

The US dollar USDJPY,
+ 0.18%
it rose to 109.95 Japanese yen from 109.90 yen.

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