On Tuesday, January 16th, U.S. stock markets closed lower, influenced by mixed results from Morgan Stanley (NYSE:MS) and Goldman Sachs (NYSE:GS) impacting banking stocks, along with declines in Boeing Co (NYSE:BA) and Apple Inc (NASDAQ:AAPL) affecting the S&P 500.
Related: Morgan Stanley Reports Q4 Results, Joins Boeing, Alcoa, And Other Big Stocks Moving Lower On Tuesday
In economic data, the NY Empire State Manufacturing Index dropped to -43.7 in January, its lowest since May 2020.
The S&P 500 mostly closed lower, with energy and materials sectors leading the fall, while information technology stocks ended higher.
The Dow Jones Industrial Average declined 0.62%, closing at 37,361.12. In contrast, the S&P 500 dropped 0.37% to 4,765.98, while the Nasdaq Composite slipped 0.19%, ending the session at 14,944.35.
Asian Markets Today
On Wednesday, Japan’s Nikkei 225 index closed the session lower by 0.32% at 35,477.75, led by losses in the Transportation Equipment, Marine Transport, and Textile sectors.
Australia, the S&P/ASX 200 declined 0.29%, ending at 7,393.10, led by losses in the Gold, Energy and Resources sectors.
India’s Nifty 50 closed lower by 2.09% at 21,571.95, and the Nifty 500 slid 1.71% to 19,487.60.
China’s Shanghai Composite slipped 2.09% to 2,833.62, while the Shenzhen CSI 300 decreased 2.18%, closing at 3,229.08.
China’s economy saw a 5.2% expansion in the fourth quarter compared to the previous year. Industrial output in December expanded 6.8% year-over-year, exceeding the forecast of 6.6% and matching the November figure. Retail sales in December +7.4% year-over-year, below the forecasted 8.0%, marked a decrease from the 10.1% observed in November.
Hong Kong’s Hang Seng Index fell 4.04%, concluding the day at 15,241.00.
The Hang Seng Index saw a significant downturn, mainly due to steep losses in the technology and financial sectors. Major financial stocks like China Ping An Insurance and HSBC Holdings (NYSE:HSBC) fell by 1.78% and 1.84%, highlighting the Hong Kong stock market’s vulnerability to investor sentiment and broader economic conditions, especially in the technology and financial sectors.
Eurozone at 06:00 AM ET
The European STOXX 600 index was down 1.27%.
Germany’s DAX slipped 1.05%.
France’s CAC declined by…
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