• MTS Futures News_AM_20180302

    2 Mar 2018 | SET News


• U.S. stocks sold off late to end sharply lower on Wednesday, dragged down by continued worries over rising interest rates, and the Dow and S&P 500 capped their worst months since January 2016.

The Dow Jones Industrial Average .DJI fell 380.83 points, or 1.5 percent, to 25,029.2, the S&P 500 .SPX lost 30.45 points, or 1.11 percent, to2,713.83 and the Nasdaq Composite .IXIC dropped 57.35 points, or 0.78 percent, to 7,273.01.

For the month, the Dow lost 4.3 percent and the S&P 500 fell 3.9 percent. The Nasdaq declined 1.9 percent, its biggest monthly percentage fall since October 2016.

• The Dow Jones Industrial Average .DJI fell 420.22 points, or 1.68 percent, to 24,608.98, the S&P 500 .SPX lost 36.16 points, or 1.33 percent, to 2,677.67 and the Nasdaq Composite .IXIC dropped 92.45 points, or 1.27 percent, to 7,180.56.

The Dow and S&P 500 registered a third straight day of more than 1 percent declines on Thursday after President Donald Trump said the United States would impose import tariffs on steel and aluminum, raising concern about higher prices and a trade war.

The news prompted a warning from the EU and outrage from other countries and a steep fall in US equity indices, although shares in US producers jumped. At the close of trading in New York, the S&P 500 had fallen 1.3 per cent and the Dow Jones Industrial Average was off 1.7 per cent. Steelmakers rallied on the news, however, with US Steel gaining 5.8 per cent and AK Steel closing up 9.5 per cent.

• Asian stocks declined on Friday, tracking the fall on Wall Street following a tariff announcement from U.S. President Donald Trump.

Markets stateside fell on the news as investors worried about retaliatory actions from U.S. trade partners that could potentially result in a trade war. In addition, tariffs are also seen as inflationary as they could mean higher prices for consumers.

• The country's benchmark Nikkei 225 fell 2.37 percent in early trade, with steel stocks trading sharply lower. JFE Holdings declined 2.45 percent, Nisshin Steel lost 2.19 percent and Kobe Steel lost 2.59 percent.

Reference: Reuters, CNBC, Financial Times

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