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Wall Street slides, ending seesaw week in a risk-off mood

By Stephen Culp NEW YORK (Reuters) - Wall Street slid on Friday in a broad sell-off, rounding out a topsy-turvy week in which investors juggled signs of economic strength with...
Wall Street slides, ending seesaw week in a risk-off mood © Reuters. FILE PHOTO: A street sign for Wall Street is seen outside of the New York Stock Exchange (NYSE) in New York City, New York, U.S., June 28, 2021. REUTERS/Andrew Kelly/File Photo

By Stephen Culp

NEW YORK (Reuters) - Wall Street slid on Friday in a broad sell-off, rounding out a topsy-turvy week in which investors juggled signs of economic strength with concerns over corporate tax increases, stress from the Delta COVID variant, and possible shifts in the U.S. Federal Reserve's timeline for tapering asset purchases.

All three major U.S. stock indexes fell, with the Nasdaq Composite Index suffering the biggest decline as rising U.S. Treasury yields pressured market-leading growth stocks.

They were also on track to post weekly losses, with the S&P index setting a course for its biggest two-week drop since February.

"We're seeing a market where investors are pulling to the sidelines," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. "It's a market that's being driven by cautiousness rather than any shift in fundamentals."

A potential hike in corporate taxes could eat into earnings also weigh on markets, with leading Democrats seeking to raise the top tax rate on corporations to 26.5% from the current 21%.

While consumer sentiment steadied this month it remains depressed, according to a University of Michigan report, as Americans postpone purchases while inflation remains high.

Inflation is likely to be a major issue next week, when the Federal Open Markets Committee holds its two-day monetary policy meeting. Market participants will be watching closely for changes in nuance which could signal a shift in the Fed's tapering timeline.

"It has been a week of mixed economic data and we are focused clearly on what will come out of the Fed meeting next week," said Bill Northey, senior investment director at U.S. Bank Wealth Management in Helena, Montana.

The Dow Jones Industrial Average fell 170.15 points, or 0.49%, to 34,581.17; the S&P 500 lost 38.97 points, or 0.87%, at 4,434.78; and the Nasdaq Composite dropped 159.70 points, or 1.05%, to 15,022.22.

The S&P 500 dropped close to its 50-day moving average, which in recent history has proven a rather sturdy support level.

Of the 11 major sectors in the S&P 500 materials and technology shares were suffering the biggest percentage drops.

COVID vaccine manufacturers Pfizer Inc (NYSE:PFE) and Moderna (NASDAQ:MRNA) Inc dropped 1.3% and 4.8%, respectively, as U.S. health officials moved the debate over booster doses to a panel of independent experts.

U.S. Steel Corp shed 8.6% after it unveiled a $3 billion mill investment plan.

Robinhood Markets Inc (NASDAQ:HOOD) rose 1.5% after Cathie Wood's ARK Invest bought $14.7 million worth of shares in the trading platform.

Volume and volatility is likely elevated toward the end of the session due to "triple witching," which is the quarterly, simultaneous expiration of stock options, stock index futures, and stock index options contracts.

Declining issues outnumbered advancing ones on the NYSE by a 2.18-to-1 ratio; on Nasdaq, a 1.24-to-1 ratio favored decliners.

The S&P 500 posted seven new 52-week highs and two new lows; the Nasdaq Composite recorded 57 new highs and 60 new lows.

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29-03-2024 01:08:51 (UTC+7)

EUR/USD

1.0797

-0.0029 (-0.27%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (2)

Sell (3)

EUR/USD

1.0797

-0.0029 (-0.27%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (2)

Sell (3)

GBP/USD

1.2622

-0.0015 (-0.12%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (5)

USD/JPY

151.38

+0.06 (+0.04%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (9)

Sell (2)

AUD/USD

0.6521

-0.0012 (-0.18%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (0)

USD/CAD

1.3535

-0.0032 (-0.24%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (3)

EUR/JPY

163.41

-0.34 (-0.21%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (3)

EUR/CHF

0.9730

-0.0056 (-0.57%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (5)

Gold Futures

2,242.80

+30.10 (+1.36%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (7)

Silver Futures

25.003

+0.251 (+1.01%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Copper Futures

4.0113

+0.0113 (+0.28%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (6)

Crude Oil WTI Futures

82.98

+1.63 (+2.00%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

Brent Oil Futures

86.79

+1.38 (+1.62%)

Summary

Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (5)

Sell (0)

Natural Gas Futures

1.764

+0.046 (+2.68%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Coffee C Futures

188.53

-2.12 (-1.11%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Euro Stoxx 50

5,082.85

+1.11 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

S&P 500

5,252.88

+4.39 (+0.08%)

Summary

Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (4)

Sell (4)

DAX

18,504.51

+27.42 (+0.15%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

FTSE 100

7,952.62

+20.64 (+0.26%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Hang Seng

16,541.42

+148.58 (+0.91%)

Summary

Neutral

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (1)

US Small Cap 2000

2,123.05

+8.70 (+0.41%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (2)

Sell (5)

IBEX 35

11,074.60

-36.70 (-0.33%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (5)

BASF SE NA O.N.

52.930

-0.320 (-0.60%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (1)

Bayer AG NA

28.43

+0.01 (+0.04%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (1)

Allianz SE VNA O.N.

277.80

+0.35 (+0.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Adidas AG

207.00

+2.30 (+1.12%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (0)

Deutsche Lufthansa AG

7.281

+0.104 (+1.45%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (6)

Siemens AG Class N

176.96

+0.04 (+0.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Deutsche Bank AG

14.582

-0.030 (-0.21%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

 EUR/USD1.0797↑ Sell
 GBP/USD1.2622↑ Sell
 USD/JPY151.38↑ Buy
 AUD/USD0.6521↑ Buy
 USD/CAD1.3535Sell
 EUR/JPY163.41↑ Buy
 EUR/CHF0.9730↑ Sell
 Gold2,242.80Sell
 Silver25.003↑ Buy
 Copper4.0113Sell
 Crude Oil WTI82.98↑ Buy
 Brent Oil86.79Buy
 Natural Gas1.764↑ Buy
 US Coffee C188.53↑ Sell
 Euro Stoxx 505,082.85↑ Sell
 S&P 5005,252.88Buy
 DAX18,504.51↑ Buy
 FTSE 1007,952.62↑ Sell
 Hang Seng16,541.42Neutral
 Small Cap 20002,123.05Sell
 IBEX 3511,074.60↑ Sell
 BASF52.930↑ Buy
 Bayer28.43Buy
 Allianz277.80↑ Buy
 Adidas207.00↑ Buy
 Lufthansa7.281↑ Sell
 Siemens AG176.96↑ Buy
 Deutsche Bank AG14.582↑ Buy
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Cập nhật 29-03-2024 01:08:53
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ↀ Giá vàng thế giới
$2,221.79+30.771.40%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V24.69025.180
RON 95-III24.28024.760
E5 RON 92-II23.21023.670
DO 0.05S21.01021.430
DO 0,001S-V21.64022.070
Dầu hỏa 2-K21.26021.680
ↂ Giá dầu thô thế giới
WTI$82.69+5.250.07%
Brent$86.67+5.030.06%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD24.580,0024.950,00
EUR26.018,3427.446,04
GBP30.390,9531.684,00
JPY158,69167,96
KRW15,8419,20
Cập nhật lúc 18:53:18 28/03/2024
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