Reliance Trading Co. Limited: Stock Market ended up mixed as major tech companies shares dropped

WAN CHAI, Hong Kong - Sept. 17, 2020 - PRLog -- Nasdaq and S&P 500 dipped in today's session after most of the shares from tech giants has declined. Another possible reason of the dropped is that investors are currently considering the possible outcome of the latest monetary policy decision from the Federal Reserve.

According to Federal Reserve Chairman, Jerome Powell, the U.S. central bank kept interest rates near zero which might stay until 2023.

He said in a statement, "We expect to maintain an accommodative stance of monetary policy until these outcomes, including maximum employment, are achieved."

Shares of Apple and Microsoft both declined around 2.9% and 1.8%, respectively. Netflix fell short about 2.5% and Alphabet depreciated 1.5%. Facebook is down by 3.3%, while Amazon ended up 2.5% lower.

Here are the main movements in the Global Stock Market this Wednesday;

Stocks

-        Nasdaq Composite ended up 139.86 points lower or 1.25% to 11,050.47, as market closed 4 p.m. of New York time.

-        S&P 500 decreased about 15.65 points or 0.46% lower to 3,385.55.

-        The Dow Jones Industrial Average on the other side climbed about 37.38 points or 0.13% higher to 28,032.98.

-        The Stoxx Europe 600 Index is up by 0.6%.

-        The MSCI Asia Pacific Index also gained around 0.6%.

Bonds

-        The yield on the benchmark 10-year Treasury note rose about one basis point to 0.693%.

-        The yield on the 30-year Treasury bond increased about 3 basis points to 1.460%.

-        Germany's 10-year yield dipped about one basis point to -0.48%.

-        Britain's 10-year yield fell shortly around one basis point to 0.211%.

Commodities

-        Gold price quite increased about 3.15 points or 0.16% higher to $1,958.75 an ounce.

-        Silver has no to little change to $27.16 an ounce.

-        West Texas Intermediate crude gained 1.88 points or 4.91% higher to $40.16 per barrel.

-        Brent crude is up by 1.69 points or 4.17% to $42.22 per barrel.

Currencies

-        US Dollar Currency Index was a little change at 93.03 per dollar.

-        The euro has no visible changed to $1.1817.

-        The Japanese yen move a bit at 104.96 per dollar.

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