Tue, 19 Jan 2021

U.S. stocks finish down, Dow Jones loses 271 points

Lola Evans
01 Dec 2020, 07:11 GMT+10

NEW YORK, New York - Wall Street tacked on to a global rout in stocks on Tuesday as investors came to grip with the reality of the current world economic situation, versus the lofty levels of stock markets.

The Dow Jones fell 271.14 points or 0.91 percent to 29,639.23.

The Standard and Poor's 500 fell 16.66 points or 0.46 percent to 3,621.69.

The Nasdaq Composite let go 7.11 points or 0.06 percent to 12,198.74.

The U.S. dollar garnered back a fraction of its losses of recent weeks, despite zooming up in the Asian session.

By the New York close Tuesday, the euro had fallen back to 1.1928. The British pound was trimmed to 1.3328. The Japanese yen plummeted to 104.39. The Swiss franc sank to 0.9088.

The Canadian dollar was only a fraction lower at 1.2988. The Australian dollar dropped half-a-cent to 0.7340. The New Zealand dollar slid to 0.7018.

In London, the FTSE 100 shed 1.59 percent. The German Dax was down 0.33 percent, while in Paris, France, the CAC 40 tumbled 1.42 percent.

On Asian markets, in Australia, where the country's confrontation with China reached a new boiling point on Monday, the benchmark All Ordinaries index tumbled 74.70 points or 1.10 percent to 6,742.10.

Japan's Nikkei 225 dropped 157.42 points or 0.59 percent to 26,487.29.

The Hong Kong Hang Seng was the worst performer, losing 553.19 points to 26,341.49. China's Shanghai Composite shed 16.55 points or 0.49 percent to 3,391.76.

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