Global markets are facing a downturn on Tuesday, with early trends suggesting that Wall Street could open lower. The were down 129.00 points, the were declining by 19.50 points, and the were sliding by 82.75 points as of 8:00 am ET.
On Monday, the U.S. major averages finished mostly up, with the Nasdaq climbing by 88.45 points or 0.7 percent to 13,307.77 and the inching up by 0.34 points or less than a tenth of a percent to 4,288.39. However, the Dow slipped by 74.15 points or 0.2 percent to 33,433.35.
The Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) report for August is set to be published at 10:00 am ET today, which could be a highlight of the day. The consensus for job openings is pegged at 8.75 million, slightly lower than July’s figure of 8.827 million.
Asian stocks also fell sharply today; Hong Kong’s tumbled by 2.69 percent to 17,331.22 as trading resumed after a long holiday weekend. Chinese markets remained closed for the holidays. Japanese shares followed suit with the average slumping by 1.64 percent to 31,237.94 and the broader index settling at 1.68 percent lower at 2,275.47.
Australian markets declined after the Reserve Bank of Australia held interest rates steady for a fourth month but reiterated that further policy tightening might be needed to bring inflation under control within a “reasonable timeframe”. The benchmark S&P dropped by 1.28 percent to 6,943.40 while the broader All Ordinaries index ended down by 1.31 percent at 7,141.
European shares are also trading in negative territory today. 40 is down by 54.83 points or 0.78 percent, is declining by 122.67 points or 0.80 percent, England’s is declining by 10.73 points or 0.14 percent, and the Swiss Market Index is sliding by 74.33 points or 0.68 percent.
, which provides a blue-chip representation of supersector leaders in the Eurozone, is down by 0.71 percent.
In other economic news, a 52-week Treasury bill auction will be held at 11:30 am ET today.
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