Shares are sharply lower in Asia after a broad retreat on Wall Street
FILE - Trader Patrick King works the floor at the New York Stock Exchange, Thursday, May 12, 2022, in New York. Stocks fell sharply on Wednesday as the Stocks fell sharply on Wednesday as the Dow Jones Industrial Average gave up more than 1,100 points, or 3.6% and the tech-heavy Nasaq pulled back 4.7%. The S&P 500, the benchmark for many index funds, fell 4%.
The benchmark index is now down more than 18% from the record high it reached at the beginning of the year. That's shy ofThe Federal Reserve is trying to temper the impact from the highest inflation in four decades by raising interest rates. Many other central banks are on a similar track.
lost a quarter of its value after reporting earnings that fell far short of analysts' forecasts. Inflation, especially for shipping costs, dragged its operating margin for the first quarter to 5.3%. It had been expecting 8% or higher. Technology stocks, which led the market rally a day earlier, were the biggest drag on the S&P 500. Apple lost 5.6%, its biggest decline since September 2020.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asian markets gain as China COVID progress outweighs Wall Street lossesShares advanced in Asia on Tuesday after another wobbly day on Wall Street extended a losing streak for markets.
Read more »
Stocks Keep Tanking As Growing Number Of Wall Street Experts Warn About Rising Recession RisksMarkets moved lower again on Monday, struggling to rebound from a brutal selloff in recent months that has caused tech stocks to nose-dive and pushed the S&P 500 to the edge of bear market territory.
Read more »
Flight data suggests China Eastern plane deliberately crashed: Wall Street Journal reportBlack box data recovered from a China Eastern flight that crashed in March suggests someone in the cockpit intentionally downed the plane, the Wall Street Journal reported, citing a preliminary assessment from United States officials.
Read more »
Asia-Pacific stocks set for lower start following tumble on Wall StreetMajor indexes on Wall Street declined more than 3.5% overnight, with the Dow Jones Industrial Average closing at its lowest since March 2021.
Read more »
Wall Street ends sharply higher, fueled by AppleWall Street finished sharply higher on Tuesday, lifted by Apple, Tesla and other megacap growth stocks after strong retail sales in April eased worries about slowing economic growth.
Read more »
Japan's Nikkei 225 Drops More Than 2% as Asia Stocks Fall Following Tumble on Wall StreetMajor indexes on Wall Street declined more than 3.5% overnight, with the Dow Jones Industrial Average closing at its lowest since March 2021.
Read more »