Wall Street records across-the-board declines Monday
"I'm getting a little concerned that the market is going to end up being disappointed," CFRA Research's Sam Stovall told CNBC Monday. "The Fed will have a conundrum to deal with if inflation remains sticky and if the consumer remains willing to spend — where is the need to cut rates?"
U.S. Equity Markets in Retreat
The S&P 500 (^GSPC) dipped 16.00 points, or 0.25 percent, to close at 6,373.45, with trading volume reaching 2.827 billion shares.
The Dow Jones Industrial Average (^DJI) saw steeper losses, falling 200.52 points, or 0.45 percent, to 43,975.09 on moderate volume of 422.779 million shares.
Tech stocks also struggled as the NASDAQ Composite (^IXIC) declined 64.62 points, or 0.30 percent, to 21,385.40, with heavy turnover of 7.577 billion shares.
U.S. Dollar Records Across-the-Board Gains Monday
The US dollar was stronger against the majors in foreign exchange markets on Monday, strengthening against the euro and commodity-linked currencies while the Japanese yen extended its decline.
Key Currency Movements
EUR/USD fell to 1.1604, down 0.31 percent, as the euro weakened.
USD/JPY rose to 148.20, gaining 0.34 percent, as the yen remained under pressure.
USD/CAD climbed to 1.3786, up 0.23 percent, as oil price fluctuations weighed on the Canadian dollar.
GBP/USD dipped to 1.3426, losing 0.16 percent, as traders awaited key UK economic data later in the week.
USD/CHF rose 0.64 percent to 0.8127, marking one of the day's strongest dollar gains.
Commodity Currencies Under Pressure
The Australian and New Zealand dollars both softened against the greenback:
AUD/USD slipped 0.13 percent to 0.6509.
NZD/USD dropped 0.27 percent to 0.5934, reflecting broader risk-off sentiment.
Market Drivers
Analysts attributed the dollar's strength to:
Safe-haven flows amid geopolitical tensions.
Diverging central bank policies, with the Fed expected to maintain higher rates longer than peers.
Weakness in European and commodity-linked currencies due to growth concerns.
Global Markets End Mixed Monday, Japanese markers Shine as Nikkei 225 Jumps 761 Points; FTSE 100 Gains While DAX and CAC 40 Slip
Canada
In contrast to U.S. stock markets, Canada's S&P/TSX Composite edged up 16.55 points or 0.06 percent to 27,775.23 with 21.77 million shares traded. .
UK and Europe
The FTSE 100 (^FTSE) in London closed at 9,129.71, rising 33.98 points or 0.37 percent, buoyed by strength in energy and financial stocks.
However, Germany's DAX (^GDAXI) dipped 81.52 points, or 0.34 percent, to 24,081.34, while in France the CAC 40 (^FCHI) fell 44.48 points, or 0.57 percent, to 7,698.52.
The broader EURO STOXX 50 (^STOXX50E) also declined, shedding 15.89 points, or 0.30 percent, to 5,331.85.
The Euronext 100 (^N100) edged down 1.44 points, or 0.09 percent, to 1,578.30, while Belgium's BEL 20 (^BFX) slipped 7.16 points, or 0.15 percent, to 4,726.75.
Asia and Pacific
In Asia, Hong Kong's Hang Seng (^HSI) rose 47.99 points, or 0.19 percent, to 24,906.81, while in Singapore the STI (^STI) dipped 7.05 points, or 0.17 percent, to 4,232.78.
China's SSE Composite (000001.SS) rose 12.42 points, or 0.34 percent, to 3,647.55, while in Japan the Nikkei 225 (^N225) led gains in Asia, surging 761.38 points, or 1.85 percent, to 41,820.48—a fresh multi-decade high.
In Australia the S&P/ASX 200 (^AXJO) climbed 37.70 points, or 0.43 percent, to 8,844.80, and the All Ordinaries (^AORD) gained 41.00 points, or 0.45 percent, to 9,117.60.
India's Sensex (^BSESN) surged 746.29 points, or 0.93 percent, to a record 80,604.08, while in Indonesia the IDX Composite (^JKSE) jumped 72.54 points, or 0.96 percent, to 7,605.92.
Malaysia's KLCI (^KLSE) rose 6.26 points, or 0.40 percent, to 1,563.24, and New Zealand's NZX 50 (^NZ50) added 67.23 points, or 0.52 percent, to 12,911.86.
In South Korea the KOSPI (^KS11) dipped slightly, losing 3.24 points, or 0.10 percent, to 3,206.77, while Taiwan's TWSE (^TWII) gained 114.24 points, or 0.48 percent, to 24,135.50.
Middle East & Africa
In Israel the TA-125 (^TA125.TA) dropped 26.99 points, or 0.89 percent, to 2,993.71, while Egypt's EGX 30 (^CASE30) fell 201.30 points, or 0.56 percent, to 35,908.50.
In South Africa the Top 40 USD (^JN0U.JO) declined 27.87 points, or 0.49 percent, to 5,642.43.
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