Tue, 03 Aug 2021

U.S. stock markets end day in red, Dow drops 94 points

Lola Evans
16 Jun 2021, 06:16 GMT+10

NEW YORK, New York - U.S. stocks were weaker across the board on Tuesday.

In Britain, Prime Minister Boris Johnson announced the sealing of a trade deal with Australia, after dining with Australian Prime Minister Scott Morrison overnight.

"Today marks a new dawn in the U.K.'s relationship with Australia," Johnson said in a statement released on Tuesday. "Our new free-trade agreement opens fantastic opportunities for British businesses and consumers."

On foreign exchange markets, both the British pound and the Australian dollar weakened despite the new trade deal. The pound dropped to 1.4082 approaching the New York close Tuesday. The Australian dollar declined to 0.7687.

The euro was steady at 1.2127. The Japanese yen was little changed at 110.04. The Swiss franc inched higher to 0.8982.

The Canadian dollar fell to 1.2186. The New Zealand dollar dropped a half-cent to 0.7121.

The Dow Jones industrials slid 94.42 points or 0.27 percent to close Tuesday at 34,299.33.

The Nasdaq Composite shed 101.29 points or 0.71 percent to 14,072.86.

The Standard and Poor's 500 fell 8.56 points or 0.20 percent to 4,246.50.

Overseas, the FTSE 100 in London celebrated the UK-Australian trade deal with a 0.39 percent rise. The German Dax rose 0.36 percent. In Paris, the CAC 40 was up 0.35 percent.

On Asian markets, stocks in Sydney and Tokyo racked up solid gains on Tuesday, while the Shanghai and Hong Kong markets fell.

The ASX 200 reached a new record high during intraday trading, while the All Ordinaries added 55.80 points or 0.74 percent to close at 7,633.40.

In Japan, the Nikkei 225 rallied 279.50 points or 0.96 percent to 29,441.30.

It was a different story in China. The Shanghai Composite sank 33.19 points or 0.92 percent to 3,556.56.

In Hong Kong the Hang Seng shed 203.60 points or 0.71 percent to close at 28,638.53.

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