Inflation Worries Contributing To Continued Weakness On Wall Street
WASHINGTON (dpa-AFX) - Stocks have moved mostly lower in morning trading on Wednesday, extending the downward move seen over the two previous sessions. With the drop on the day, the S&P 500 has fallen to its lowest intraday level in a month.
The major averages have seen further downside in recent trading, hitting new lows for the session. The Dow is down 242.50 points or 0.7 percent at 34,026.66, the Nasdaq is down 217.97 points or 1.6 percent at 13,171.46 and the S&P 500 is down 38.76 points or 0.9 percent at 4,113.34.
The continued weakness on Wall Street reflects concerns about the accelerating pace of inflation following the release of the Labor Department s report on consumer prices in the month of April.
U.S. Stocks Seeing Further Downside In Mid-Day Trading
WASHINGTON (dpa-AFX) - After coming under pressure early in the session, stocks have seen further downside over the course of the trading day on Wednesday. The major averages are adding to the losses posted in the two previous sessions, with the S&P 500 falling to its lowest intraday level in a month.
In recent trading, the major averages have once again slid to new lows for the session. The Dow is down 458.74 points or 1.3 percent at 33,810.42, the Nasdaq is down 308.81 points or 2.3 percent at 13,080.62 and the S&P 500 is down 66.13 points or 1.6 percent at 4,085.97.
TSMC s market cap dips below NT$15 trillion
05/11/2021 03:24 PM
A TSMC factory in Tainan. CNA file photo
Taipei, May 11 (CNA) The market value of contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) fell below NT$15 trillion (US$538 billion) Tuesday as large cap tech stocks plummeted after their counterparts on American markets fell overnight, dealers said.
TSMC shares closed down 3.06 percent at NT$571.00, reducing its market capitalization to NT$14.8 trillion Tuesday, from NT$15.27 trillion at the end of Monday.
It was the first time the stock has seen its market value based on its closing price fall below NT$15 trillion since March 25, when the stock closed at NT$575 per share.
Taiwan shares plunge over 600 points; turnover hits high
05/11/2021 05:29 PM
CNA photo on May 11
Taipei, May 11 (CNA) Shares in Taiwan took a beating Tuesday, led by the bellwether electronics sector, as selling was sparked by a plunge suffered by tech stocks on United States markets overnight, dealers said.
The heavy losses across the board also reflected cautious market sentiment amid escalating worries over an increase in domestically transmitted COVID-19 cases, which prompted the government to tighten its measures to fend off infections by banning large gatherings, the dealers said.
The Taiex, the weighted index on the Taiwan Stock (TWSE), ended down 652.48 points, or 3.79 percent, at 16,583.13, after moving between 16,460.87 and 17,137.19. Turnover totaled NT$714.84 billion (US$25.65 billion), the highest level in history.
Dow Reaches New Record High But Nasdaq Posting Steep Loss
WASHINGTON (dpa-AFX) - While the Dow has climbed to a new record intraday high in morning trading on Monday, the tech-heavy Nasdaq has shown a substantial move to the downside. The S&P 500 has spent the morning bouncing back and forth across the unchanged line.
Currently, the major averages are turning in a mixed performance. The Dow is up 192.76 points or 0.6 percent at 34,970.52, but the Nasdaq is down 232.49 points or 1.7 percent at 13,519.75 and the S&P 500 is down 11.53 points or 0.3 percent at 4,221.07.
The steep drop by the Nasdaq comes amid weakness among technology stocks following negative analyst comments about several big-name companies.