Today’s Announcements & News
Asia-Pacific markets tumbled on Thursday as the turmoil surrounding Credit Suisse added to concerns about the region’s banking sector. Credit Suisse shares fell to record lows for a second straight day after its main investors ruled out further support.
In Japan, the Topix fell 2.27% on Thursday morning, as the country’s trade data for February fell short of expectations, sending the entire region down. Nikkei 225
In Australia, the S&P/ASX 200 Dragged down by mining stocks and banking stocks, it fell 1.83%. Investors will continue to digest unemployment data from the economy. South Korea’s Kospi also fell 1.06%, while the Kosdaq lost 1.05%.
Overnight, major US stock indexes closed broadly lower, with the Dow Jones Industrial Average down 0.9% and the S&P 500 down 0.7%. The Nasdaq Composite edged higher, rising 0.05%.
U.S. stock futures rose late on Wednesday after investor concerns about a broader banking crisis led to a volatile session.
Dow Jones Industrial Average futures rose 9 points, or 0.03%. Meanwhile, S&P 500 futures rose 0.11% and Nasdaq 100 futures rose 0.35%.
During regular trading hours, the Dow
It was down 725 points at one point and ended the day down 280.83 points, or 0.87%. S&P 500 Index
The tech-heavy Nasdaq Composite fell 0.7%.
The key averages got off to a bad start in the morning after news that Credit Suisse’s largest investor, the National Bank of Saudi Arabia, said it could not provide the bank with additional funding. The SNB statement sparked a broad sell-off amid fears of a crisis in the financial sector. Indices recovered some ground in the afternoon after Swiss regulators announced that the Swiss National Bank would provide additional liquidity to Credit Suisse if needed.
Gold prices climbed over 1% to settle at their highest since early February on Wednesday as a fresh crisis in the banking sector turned investors away from seemingly riskier assets and drove them to the safety of bullion.
Gold gained 1.07% to settle at $1,931.3.
The above analysis is only for the views of market researchers and is for reference only and is not regarded as a specific investment suggestion.