Market News & Analysis

Top Story

Asian Market Brief: APR 22 (WED)

On Tuesday U.S. stocks fell for a second session, as sentiment was still impacted by the dim economic outlook reflected by plunging oil prices.

The Dow Jones Industrial Average lost 631 points (-2.7%) to 23,018, the S&P 500 slid 86 points (-3.1%) to 2,736, and the Nasdaq 100 shed 323 points (-3.7%) to 8,403.

Nasdaq 100 Daily Chart: Watch Key Support at 8250


Source: GAIN Capital, TradingView


Semiconductors & Semiconductor Equipment (-4.93%), Software & Services (-4.12%) and Automobiles & Components (-3.78%) sectors suffered the biggest losses.

Fortinet (FTNT, -9.9%), Lam Research (LRCX, -8.7%), Salesforce.com (CRM, -7.5%), Advanced Micro Devices (AMD, -7.1%) and Philip Morris International (PM, -6.0%) were the top losers.

Netflix (NFLX, -0.8%) reported after trading hours that it added 15.8 million subscribers in the first quarter, up 22% on year and much better than its own projection of 7.2 million.

U.S. official data showed that Existing Homes Sales fell to an annualized rate of 5.27 million units in March (5.25 million units expected).

European stocks slumped, with the Stoxx Europe 600 Index falling 3.4%. Germany's DAX shed 4.0%, the U.K.'s FTSE 100 sank 3.0%, and France's CAC was down 3.8%.

U.S. Treasury prices advanced as investors continued to seek safe-haven assets. The benchmark 10-year U.S. Treasury yield declined to 0.571% from 0.625% Monday.

Spot gold dropped 9 dollars (-0.6%) to $1,684 an ounce.

The May contract for West Texas Intermediate (WTI) futures, which closed at a historic level of minus-$37.63 a barrel on Monday, climbed to expire at $10.01 a barrel on Tuesday.

The June WTI contract tumbled 38.2% to $13.12 a barrel, and Brent crude oil futures plunged 24.0% to $29.33 a barrel.

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.