FTSE 100 Below 7,000 As Crypto Crash Plunges Global Markets, Sensex Below 50,000 Business News

London’s FTSE 100 fell more than one percent amid a drop in commodities and the crypto crash that plunged other global markets overnight.

The UK major stocks index closed 84 points lower at 6,950 on Wednesday, while the domestically-focused FTSE 250 fell 98 points to 22,234.

US stocks also hit their low on Wednesday, however, reduced some losses before the close affected by the cryptocurrency crash and a hint of discussion from the US Federal Reserve led to the bond market selling.

The Fed minutes released on Wednesday said that “a number” of officials believe that if the recovery continues, it may be appropriate to “start discussing a plan to adjust the pace of asset purchases. “.

The Dow Jones Industrial Average fell 164 points, or 0.48%, to 33,896, the S&P 500 lost 12 points, or 0.29%, to 4115 and the Nasdaq Composite fell 3.90 points, or 0 , 03%, at 13299.

As of Thursday morning, benchmarks in the Asia-Pacific region were either stable or red, except in Japan, where data showed the country’s exports were increasing. Tokyo’s Nikkei 225 jumped higher in the morning trade, however, overall weight caught up and its trades were stable around noon.

Shanghai Composite is trading in red, 0.2% lower, while South Korea’s Kospi is down 0.5%. Hang Seng opened in the red and continues to trade over 200 points lower.

The crypto crash was largely driven by China’s decision to ban financial and payment institutions from providing digital currency services, after which Bitcoin briefly plunged to its lowest level since January, but cut losses. later.

Indian indices opened in green on Thursday, but losses in commodities and nervousness in Asian markets capped some gains. The BSE Sensex was below 50,000 and continues to trade flat, while the Nifty 50 is also trading below 15,000.

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This notice was published: 2021-05-20 05:35:12