Asian stocks down after Big Tech pulls S&P 500 and Nasdaq lower

HONG KONG — Asian stocks were down Tuesday after a mixed finish on Wall Street, where the Dow Jones Industrial Average climbed to an all-time high while Big Tech companies pulled the S&P 500 and the Nasdaq composite lower.

But additional tariffs on China are clouding its manufacturing prospects. Canada announced a 100% tariff on the import of Chinese electric vehicles and a 25% tariff on Chinese steel and aluminum on Monday, with the measures set to take effect on Oct. 1. This will apply to all EVs shipped from China, many of which are Tesla cars produced in the country.Hong Kong’s Hang Seng shed 0.2% to 17,760.40 and the Shanghai Composite index dropped 0.3% to 2,846.19.

The Dow rose 0.2%, to 41,240, eclipsing its previous high set in mid-July. The average is less influenced by Big Tech, with only Apple and Microsoft among the most valuable “Magnificent Seven” stocks in the index. That helped limit the impact of the Big Tech decliners.The stock market is coming off a two-week winning streak that’s helped keep the S&P 500 and Dow within striking distance of notching new highs.

All told, the S&P 500 fell 17.77 points to 5,616.84. The Dow rose 65.44 points to 41,240.52, and the Nasdaq dropped 152.03 points to close at 17,725.76. In energy trading, benchmark U.S. crude fell 30 cents to $77.12 a barrel. Brent crude, the international standard, gave up 25 cents to $80.11 a barrel.

Ukraine-Russia war latest: Putin orders more Kyiv drone strikes after seven killed in ‘biggest air raid yet’NEW YORK — The chant rang out in cavernous Arthur Ashe Stadium on Monday at the U.S.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Megacaps lift Nasdaq, S&P 500 ahead of Big Tech earnings, Fed verdictThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Stock market today: Dow closes at record high, S&P 500, Nasdaq slide as tech lagsStocks are eyeing a bid for fresh record highs after Jerome Powell made it crystal clear the Fed is ready to pivot to lowering rates in September.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market news today: S&P 500 futures surge as techs bounce back on big Fed dayA tech revival is helping lift stocks, with the Federal Reserve's rate decision on deck.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Dow record, tech drags S&P 500, small caps: Market TakeawaysThe Dow Jones Industrial Average (^DJI) closed at a record high on Monday, while the tech-heavy Nasdaq Composite (^IXIC) and S&P 500 (^GSPC) indexes closed...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Tech stocks lead Nasdaq, S&P 500 rebound: A break downThe Nasdaq Composite (^IXIC) and S&P 500 (^GSPC) indexes are rebounding from downward pressures that hit tech stocks (XLK) at the beginning of August. Now...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »