Wed, 23 Oct 2019

Wall Street falls, dollar continues surge

Lola Evans
09 Jul 2019, 06:14 GMT+10

NEW YORK, New York - U.S. stocks fell on Monday, in line with a global trend which saw stocks slide across the world. The U.S. dollar meantimed surged again as hopes for substantial Federal Reserve interest rate cuts continued to fade.

After hitting record highs last week, all the major U.S. bourses on Monday finished in the red.

The Dow Jones industrials declined 115.98 points or 0.43% to 26,806.14.

The Standard and Poor's 500 shed 14.46 points or 0.48% to 2,975.95.

The Nasdaq Composite gave up 63.41 points or 0.78% to 8,098.38.

On foreign exchange markets, U.S. President Donald Trump's weekend threats on Twitter to manipulate the U.S. currency lower clearly fell on deaf ears. The greenback on Monday continued its recent rally.

Around the New York close Monday, the euro had softened to 1.1205. The British pound eased to 1.2508.

The Japanese yen continued lower to 108.78.

The Canadian dollar declined to 1.3098.

The Swiss franc fell to 0.9946.

The Australian dollar was weaker at 0.6972, while the New Zealand dollar dipped to 0.6623.

In overseas equity markets, London's FTSE 100 fell 0.05% Monday.

The German Dax was down 0.20%, while the Paris-based CAC 40 declined 0.08%.

In Asian markets, China's Shanghai Composite recorded the most damage, losing 77.70 points or 2.58% to 2,933.36.

The Australian All Ordinaries closed 74.40 points or 1.09% lower at 6,757.40.

In Japan, the Nikkei 225 declined 212.03 points or 0.03% to 21,534.35.

The Hong Kong Hang Seng fell 443.14 points or 1.54% to close Monday at 28,331.69.

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