Mon, 18 Jan 2021

U.S. dollar jumps while equity markets take a tumble

Lola Evans
21 Sep 2019, 06:14 GMT+10

NEW YORK, New York - U.S. stocks weakened on Friday while the U.S. dollar strengthened.

Stocks had dropped earlier when it was learned Chinese delegates in Washington for trade talks with U.S. officials had cut their visit short and were returning home. They rebounded later in the day, but fell again late in the day.

On foreign exchange markets the U.S. dollar roared ahead, pushing down most currencies. Only the Japanese yen ended the day unscathed. It actually gained against the dollar to 107.56.

The Dow Jones industrials lost 159.72 points or 0.59% to 26,935.07.

The Standard and Poor's 500 shed 14.75 points or 0.49% to 2,992.54.

The Nasdaq Composite fell 65.21 points or 0.80% to 8,117.67.

The euro plummeted to 1.1018. The British pound dropped to 1.2471. The Swiss franc was a fraction higher at 0.9912 around the New York close Friday.

The Canadian dollar weakened to 1.3275. The Australian and New Zealand dollars were sharply weaker at 0.6763 and 0.6256 respectively.

Equity markets arcross the globe were mixed. London's FTSE 100 fell 0.16% Friday.

The German Dax rose 0.08%, while in Paris the CAC 40 jumped 0.56%.

On Asian markets, Japan's Nikkei 225 added 34.64 points or 0.16% to 22,079.09.

In China, the Shanghai Composite rose 7.17 points or 0.24% to 3,006.45.

The Australian All Ordinaries climbed 13.80 points or 0.20% 6,839.00.

The Hang Seng in Hong Kong went against the trend losing a modest 33.28 points or 0.13%, to close Friday at 26,435.67.

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