Fri, 30 Oct 2020

Weaker day for Wall Street, Dow Jones loses 131 points

Xinhua/Big News Network
30 Sep 2020, 07:54 GMT+10

NEW YORK, New York, Sept. 29 (Xinhua/Big News Network) -- Wall Street's major averages finished lower on Tuesday as investors awaited a U.S. presidential debate.

The Dow Jones Industrial Average decreased 131.40 points, or 0.48%, to 27,452.66.

The S&P 500 fell 16.13 points, or 0.48%, to 3,335.47.

The Nasdaq Composite Index dipped 32.28 points, or 0.29%, to 11,085.25.

Ten of the 11 primary S&P 500 sectors ended in negative territory, with energy down 2.73 percent, leading the decliners. Communication services rose 0.28 percent, the lone gaining group.

U.S.-listed Chinese companies traded mostly lower, with eight of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.

Wall Street looked ahead to the first debate between President Donald Trump and his Democratic challenger, former Vice President Joe Biden, scheduled for Tuesday night.

Investors also paid close attention to the update of a fresh U.S. coronavirus aid package.

Democrats from the U.S. House of Representatives unveiled on Monday a $2.2-trillion COVID-19 relief package, attempting to pressure the White House and Republicans to reach a deal before the presidential election in November.

More than 7.18 million confirmed COVID-19 cases have been reported in the United States with deaths surpassing 205,700 as of Tuesday afternoon, according to a tally by Johns Hopkins University.

On the data front, U.S. Consumer Confidence Index stood at 101.8 in September, up from 86.3 in August, New York-based The Conference Board reported on Tuesday.

The U.S. dollar was mixed Tuesday. The euro finished the day solidly higher at 1.1741. The British pound was little changed at 1.2857, while the Japanese yen weakened to 105.67. The Swiss franc rose strongly to 0.9200.

The Canadian dollar weakened to 1.3389. The Australian dollar jumped to 0.7127. The New Zealand dollar was stronger at 0.6587.

Overseas equity markets were slightly weaker. London's FTSE 100 declined 0.51%.

The German Dax was down 0.35%. In Paris, France, the CAC 40 fell 0.23%.

On Asian markets, stocks were mostly flat. Japan's Nikkei 225 rose just 27.48 points or 0.06% to 23,539.10.

China's Shanghai Composite edged up 6.82 points or 0.21% to 3,224.36.

The Australian All Ordinaries added 6.60 points or 0.11% to 6,141.50.

In Hong Kong, the Hang Seng slid 200.52 points or 0.85% to 23,275.53.

(Photo credit: Mark Lennihan | AP).

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