The US market opened in the red, as the S&P 500 index traded 71.16 points lower, Dow Jones Industrial Average Index contracted by 488.93 points, and the Nasdaq Composite traded lower at 11,000.91
Broader indices in the United States traded in red – particularly, the S&P 500 index traded 71.16 points or 2.08 per cent lower at 3,355.80, Dow Jones Industrial Average Index contracted by 488.93 points or 1.74 per cent lower at 27,644.38, and the technology benchmark index Nasdaq Composite traded lower at 11,000.91, down by 312.22 points or 2.76 per cent against the previous day close.
The US market opened in the red as the technology stocks trended downward.
A Senate Republican would put a floor vote for the corona virus related stimulus package for the US economy.
Among the gaining stocks, Peloton was up by close to 8.0 percent after the company slashed the price of its exercise bike. Beyond Meat shares increased by around 5.5 percent after the company announced it would open a new production facility near Shanghai. Etsy was up by close to 2.2 percent after the company was added in the S&P 500 index.
Among the decliners, Tesla shares plunged by 14.5 percent after the company was not included in the S&P 500 index. Wells Fargo was down by close to 3.7 percent after Berkshire Hathaway reduced its stake in the company. Coty’s shares were down by about 0.5 percent after the company was removed from the S&P 500 index.
The UK and European markets traded in the red amid the missing clarity over Brexit deal.
Among the upward moving stocks, Royal Mail shares surged by around 24.6 percent after the company increased revenue target for the current financial year. JD Sports shares were up by close to 8.2 percent after the company reinstated its annual guidance.
Among the decliners, shares of Travis Perkins declined 6.2 percent after the company reported a decline in the adjusted profit. Easyjet was down by about 5.2 percent after the company stated it would reduce its capacity for Q4 FY20. Mcbride shares fell by around 4.5 percent after the company reported a decline in the profit.
Brent future crude oil (future) price and WTI crude oil (future) price were hovering at $39.75 per barrel and $36.72 per barrel, respectively.
Gold price was quoting at US$1,947.30 per ounce, up by 0.67% against the prior day closing.
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