Mon, 10 May 2021

Wall Street sobers up, takes across-the-board dips

Lola Evans
13 Apr 2021, 06:10 GMT+10

NEW YORK, New York - U.S. stocks took a breather on Monday after last week's relentless rises which took the Down Joens industrials and the Standard and Poor's 500 to record highs.

"We are seeing a little bit of a reversal from last week where the tech sector was strong, the financials and energy were weak. Today we see the opposite, so it is profit-taking," Peter Cardillo, chief market economist at Spartan Capital Securities in New York told Reuters Thomson Monday.

The Dow Jones industrials finished the day down 52.20 points or 0.66 percent at 33,745.40.

The Standard and Poor's 500 ended flat, dropping 0.81 of a point or 0.02 percent to 4,127.99.

The Nasdaq Composite shed 50.19 points or 0.36 percent to 13,850.00.

The U.S. dollar was mixed Monday. The euro slipped to 1.1906 by the New York close. The British pound inched down to 109.42. The Japanese yen and the Swiss franc both firmed - to 109.42 and 0.9230 respectively.

The Canadian dollar was a fraction weaker at 1.2566, as was the Australian dollar at 0.7616. The New Zealand dollar was friendless at 0.7024.

Internationally, in London, the FTSE 100 declined 0.39 percent. The German Dax fell 0.13 percent. The Paris-based CAC 40 was off 0.13 percent.

On Asian markets, the Nikkei 225 in Japan was down 229.33 points or 0.77 percent at 29,538.73.

The Australian All Ordinaries traded 27.10 points or 0.37 percent lower at 7,225.20.

In Hong Kong, the Hang Seng shed 245.52 points or 0.86 percent to 28,853.28.

China's Shanghai Composite dipped 37.73 points or 1.09 percent to 3,412.95.

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