Japan's Nikkei Falls 2% as Asia-Pacific Stocks Track Wall Street Declines; Oil Slips From Highs

  • 📰 nbcchicago
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Asia-Pacific Markets Set to Track Wall Street Declines; Oil Prices Slip From Highs

The Dow Jones Industrial Average fell 313.26 points to 34,715.39 on Thursday, closing below its 200-day moving average for the first time since December 2021. The S&P 500 fell 1.1% to 4,482.73 and closing below 4,500 for the first time since October 2021.Oil prices fell on Thursday after spiking to their highest since 2014 on Wednesday, as supply concerns were soothed.

"The rally in crude oil took a breather after US crude stockpiles rose modestly," wrote ANZ Research analysts Brian Martin and Daniel Hynes in a Friday note. "Despite this, demand remains strong ... The pause in prices was also driven by reports the US is planning to accelerate the release of strategic reserves. However, this will be overshadowed by ongoing supply constraints globally," they said.

On Friday morning during Asia hours, oil prices continued to decline. U.S. crude fell about 1.61% to $84.17 per barrel., which tracks the greenback against a basket of its peers, was at 95.770, lifting from earlier levels above 95.6.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 545. in CA

Canada Canada Latest News, Canada Canada Headlines