U.S. stocks crumble again, dollar edges down

Lola Evans
20 Jan 2022, 08:06 GMT+10

In the face of looming interest rate hikes, U.S. stock markets continued to shed weight on Wednesday.
"Any beginning of tightening often results in significant volatility."
At the close on Wednesday, the Dow Jones Industrial Average had shed 339.82 points.

NEW YORK, New York - In the face of looming interest rate hikes, U.S. stock markets continued to shed weight on Wednesday.

"Any beginning of tightening often results in significant volatility and I think there is always that risk that there is a policy error and it ends the economic cycle," Kristina Hooper, chief global market strategist at Invesco told Reuters news agency Wednesday. "So we just have a lot of apprehension," Hooper said.

At the close on Wednesday, the Dow Jones Industrial Average had shed 339.82 points, or 0.96 percent, to 35,028.65.

The Standard and Poor's 500 dropped 44.35 points, or 0.97 percent, to 4,532.76.

The Nasdaq Composite declined 166.64 points, or 1.15 percent, to 14,340.26.

The U.S. dollar surprisingly edged down from its closing levels in Asia. The euro crept up to 1.1342. The British pound firmed to 1.3613. The Japanese yen strengthened to 114.36. The Swiss franc was unchanged at 0.9157.

The Canadian dollar eased slightly to 1.2513. The Australian dollar inched up to 0.7212. The New Zealand dollar was little changed at 0.6784.

Overseas, the FTSE 100 in London gained 0.35 percent. The German Dax advanced 0.24 percent. The Paris-based CAC 40 was up 0.55 percent.

The Nikkei 225 in Toyko shed 790.02 points or 2.80 percent to 27,467.23.

The Australian All Ordinaries dropped 79.20 points or 1.02 percent to 7,656.60.

China's Shanghai Composite dipped 11.73 points or 0.33 percent to 3,558.18.

In Hong Kong, the Hang Seng rose 15.07 points or 0.06 percent to 24,127.85.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Poland Sun.

More Information

6 ℃

Fair in Warsaw

Europe

Section

Report: Germany has taken in over 700,000 refugees from Ukraine

BERLIN, Germany: Citing Interior Ministry data, Welt am Sonntag newspaper has reported that more than 700,000 people fleeing the war ...

Czech resort opens world's largest pedestrian suspension bridge

DOLNI MORAVA, Czech Republic: The world's longest pedestrian suspension bridge has opened at a mountain resort in the Czech Republic. ...

Croatia passes law paving way for switch to euro currency

ZAGREB, Croatia: Croatian lawmakers have voted to allow the introduction of the euro currency in 2023. Lawmakers voted 117-13 to ...

Ireland protests Israeli police brutality, demands independent investigation into Abu Akleh's death

DUBLIN, Ireland - Foreign Minister Simon Coveney has condemned "disgraceful scenes of police brutality" at the funeral of Al Jazeera ...

Turkey voices reservations about Sweden and Finland being members of NATO

ISTANBUL, Turkey - Veto-wielding NATO member Turkey is voicing opposition to Sweden and Finland joining the alliance, with Turkish President ...

Ending long dispute, Google, EU agree on payments for online news

BRUSSELS, Belgium: Three years after the adoption of the landmark EU copyright rules, Google is set to pay 300 publishers ...

International

Section