Friday Stock Market Offers Disappointing Results
As July nears its end, global stock indexes have vastly different showings across different economic centers. Overall, US stock indexes seem to be doing well, with all three displaying a decent rise. When we look at the close on Thursday, we see that the Dow is 1.7% up, Nasdaq Composite rose 1.9%, and the S&P jumped 2.8%. On the other hand, indexes in Asia are displaying significant struggles when you look at the entirety of July. As such, Hang Seng is 9.9% down, and the Shanghai Composite dropped 5.4% in total.
July’s last trading day played a significant role in the poor performance of Asian stocks in general. For the two indexes we mentioned, the Hang Seng dropped a massive 1.35% in a single day. Shanghai Composite’s dip was slightly less drastic, with a 0.4% decline on Friday. Nikkei didn’t have a good performance either, showing the steepest drop of 1.8%. However, the worse result for July is the NASDAQ Golden Dragon China Index sliding 22%.
Even American stocks, which have been doing well for the month, expect disappointment on Friday. As such, the Nasdaq Composite slid 0.9% in a single day as soon as markets opened. The S&P 500 was not much different in its direction, although the trajectory was less severe. The index dropped by 0.5%, looking to keep most of the gains it’s made during the month. The Dow seems to be the most stable among the three, with a marginal drop of around 0.1%.
Investors can’t even search for consolation in Europe, as its indexes are also showing poor performance. London’s FTSE 100 slid 0.7%, which is quite a significant loss for large indexes. Stoxx Europe 600 is doing slightly better with a 0.3% drop. Another significant loss was in Frankfurt’s DAX, with a 0.6% slip.
