Wall Street fell slightly on Thursday in a volatile sessionafter giving up most of the initial gains driven by Strong demand from the world’s largest chipmakerwhile European stocks declined after the European Central Bank kept interest rates unchanged.
Yen fell after hitting six-week highswhile the euro retreated slightly after ECB President Christine Lagarde, kept any changes in rates on holdalthough he said that the decision at the next meeting in September is “totally open.”
The Dow Jones Industrial Average fell 0.2% to 41,112.74; the S&P 500 index fell 0.4% to 5,566.32; and The Nasdaq fell 0.8% to 17,856.63 points, after suffering its worst session since December 2022 the day before. The pan-European STOXX 600 declined 0.2%.
Shares of Taiwanese chipmaker TSMC listed in the United States fell after advancing 2.1%thanks to an increase in full-year revenue forecasts due to growing demand for artificial intelligence. The semiconductor index advanced.
The world stock index of MSCI remained down 3.77 points, or 0.46%, at 819.82 units.
Tech earnings will be next on investors’ radaras the second-quarter earnings season in the United States progresses.
“Risks in the technology sector were felt yesterday, with continued trade problems between the United States and China”said Paul Nolte of Murphy & Sylvest.
In the foreign exchange market, eThe dollar index rose 0.3% to 103.97 after hovering around its lowest level in four monthsthanks to solid manufacturing data in the United States and a report showing a slight slowdown in the labor market.
The euro fell 0.26% to $1.0909following the ECB’s monetary policy statement. It hit a four-month low of 103.64 on Wednesday.
The rate-sensitive two-year U.S. Treasury yield rose 1.5 basis pointsat 4.444%, and the 10-year benchmark note gained 2.1 basis points, to 4.167%.
The yen moved away from its highs after daily data showed few new signs of intervention by the authorities. At its last quote it was down 0.28% at 156.59 per dollar.
In raw materials, Gold rose 0.3% to $2,464.50 an ounceclose to the record high of $2,483.60 reached on Wednesday. Crude oil prices were down about 0.5%.
Source: Ambito
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