It seemed like a calm session, dedicated to recovery Japanese stock exchange + 1,3%. Then up Wall Street it rained a new wave of sales. Nikkei in Tokyo hit a low of 2% overnight. I am contrast le bags of China: CSI 300 index of the Shanghai and Shenzhen lists +0,2%, Hang Seng of Hong Kong +0,7%, Taiex index of Taipei -1,9%. Seoul's Kospi fell by 0,7%.
The US stock market suddenly worsened in the final stages of the session. L'S & P 500, which gained 1,5%, closed down 0,8% at 5.199 points. Nasdaq -1,1% to 16.195 points, from an initial +2%. It is likely that a few more sessions will be needed before the market can move within less volatile parameters again. In terms of technical analysis, the levels to be carefully monitored are respectively towards 5 thousand/4.900 points and towards 15.500 points.
I futures di Wall Street they anticipate a start dish. There is also one among those who bought at the height of the decline in tech stocks Cathi Wood: On Monday, its ARK Innovation ETF bought Amazon.com, Advanced Micro Devices and Roku, among others. Ark Investment Management's fintech fund has also added Reddit and Meta Platforms. according to the tables published daily by the company. ARKK, the actively managed fund led by Wood herself, yesterday reached its lowest levels since November, the decline since the beginning of the year is more than 20%, -75% from its value since the peak reached at the beginning of 2021.
European stock markets in the red, waiting for US data
Le European stock exchanges, in the wake of Wall Street, opened the day in red, reflecting the volatility and uncertainties which continue to characterize global markets. At the moment, the main European indices are declining: Milan loses more than one percentage point, dragged by Stm, Fineco, Banco Bpm and Amplifon.
Il Fste Eb (+2,3%, 31.831 points) yesterday was the best in Europe thanks to the push of the banks. The purchases started when Minister Giorgetti had denied to have one under study taxation of extra profits. The first noteworthy support has been regained around 31.500 points, but the discriminating threshold is still far away at 28.800 points.
The ten financial instruments most used for speculation suffered their biggest losses ever in the week of the Tokyo meltdown. The bet on the persistence of very low volatility has cost traders and investors billions of dollars hedge funds and pension funds, after the stock market sell-off which brought the Vix up to 65 points, the highest since October 2020. The ten largest listed financial instruments that invest in short-term volatility saw around 4,1 billion dollars "volatilize" from the highs reached at the beginning of the year, according to Reuters calculations and data from LSEG and Morningstar.
THEeuro gains ground on dollar due to falling Treasury yields. Recent statements by Fed officials have failed to cool bets that US economic growth will deteriorate dramatically. All eyes are on this afternoon's data regarding new weekly unemployment claims, expectations falling to 240 thousand from 249 thousand. An opportunity to verify the solidity of the market. Meanwhile, the big names are raising cash: Allianz has increased its buyback to 1,5 billion dollars.
