Big Names Lead Declines In Wall Street

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2022-08-03 HKT 04:44

Share this story

facebook

  • Wall Street stocks ended lower after a choppy session. File image: Shutterstock

    Wall Street stocks ended lower after a choppy session. File image: Shutterstock

Financial markets have been roiled in recent months by the Ukraine war, soaring inflation and tightening financial conditions.

US job openings in June fell by the most in just over two years, as demand for workers eased in the retail and wholesale trade industries. Overall the labour market remained tight.

Since the US Federal Reserve raised interest rates by 75 basis points in July, investors have been speculating about whether the central bank's largest hikes are behind it.

"The market has to get really comfortable that they have fully baked in all the Fed's rate hikes, and I think that remains an open question," said Rob Haworth, senior investment strategist at US Bank Wealth Management in Seattle. "The challenges and supply constraints aren't necessarily done. They aren't done and gone yet."

The S&P 500 declined 0.66 percent to end the session at 4,091 points.

The Nasdaq declined 0.16 percent to 12,349 points, while Dow Jones Industrial Average declined 1.23 percent to 32,396 points.

A largely upbeat second-quarter reporting season has supported markets recently, with the benchmark S&P 500 index up about 12 percent from lows hit in mid-June.

Uber Technologies jumped almost 19 percent after the ride-hailing firm reported positive quarterly cash flow for the first time ever and forecast upbeat third-quarter operating profit.

Industrial bellwether Caterpillar tumbled 5.8 percent after warning of a bigger drop in demand for its excavators in China, piling more pain on the industrial bellwether grappling with supply-chain disruptions. (Reuters)

RECENT NEWS

US Stocks Rise On Hopes Of Pause In Rate Increases

Wall Street stocks finished solidly higher on Thursday, reflecting better sentiment on the US economy and a consensus vi... Read more

China's Financial Risks 'controllable': Regulators

The head of the National Financial Regulatory Administration on Thursday told a high-profile forum in Shanghai that the ... Read more

Banks Cut Yuan Deposit Rates, Could Boost Consumption

China's biggest banks on Thursday said they have lowered interest rates on yuan deposits, in actions that could ease pre... Read more

Cheese And Wine Put EU, Australia Deal In Peril

Australia on Thursday threatened to walk away from a blockbuster free trade deal with the European Union unless its prod... Read more

US Stocks End Mixed As Tech Shares Are Sold Off

Gains by industrial companies lifted the Dow on Wednesday, while weakness among technology shares pushed the Nasdaq deci... Read more

Amazon 'plans Prime Video Streaming Service With Ads'

Amazon.com is planning to launch an advertising-supported tier of its Prime Video streaming service, the Wall Street Jou... Read more