## Global Markets Recap: Nasdaq Dips on Chip Concerns, Oil Stabilizes, Eurozone Mixed
US markets closed lower on Tuesday, October 15th, with the tech-heavy Nasdaq dropping 1% as chip stocks, including Nvidia and ASML, fell on demand concerns. This downturn in the semiconductor sector was fueled by worries about slowing global demand, especially after ASML, a key supplier of chipmaking equipment, reported weaker-than-expected earnings.
The energy sector also experienced a decline as oil prices slid. However, oil prices later stabilized, supported by OPEC+ production cuts and lingering uncertainty surrounding the ongoing Middle East conflict. Despite earlier demand concerns, the market remains tense due to continued supply reductions and geopolitical risks.
Earnings reports contributed to the market volatility. Financials performed well, while healthcare companies disappointed investors. Overall, the Dow Jones Industrial Average dropped 0.75%, closing at 42,740.42. The S&P 500 ended the day down 0.76% at 5,815.26, and the Nasdaq Composite fell 1.01% to 18,315.59.
A Look at Global Markets:
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Asia:
Japan’s Nikkei 225 closed lower by 1.87% at 39,201.50, dragged down by losses in the Communication, Power, and Automobiles and parts sectors. Australia’s S&P/ASX 200 declined 0.41%, ending the day at 8,284.70, with IT, Utilities, and Consumer Staples leading the losses. In India, the Nifty 50 was trading down 0.31% at 24,980.60, and the Nifty 500 fell 0.26% at 23,669.50. China’s Shanghai Composite rose 0.05% to 3,202.95, while the Shenzhen CSI 300 declined 0.63%, finishing the day at 3,831.59. Hong Kong’s Hang Seng slipped 0.16%, closing the session at 20,286.85.*
Eurozone:
As of 05.45 AM ET, the European STOXX 50 index was down 0.66%. Germany’s DAX declined 0.53%, France’s CAC fell 0.47%, while the U.K.’s FTSE 100 index traded higher by 0.66%.Commodities Update:
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Oil:
Crude Oil WTI was trading higher by 0.06% at $70.63/bbl, and Brent was up 0.04% at $74.28/bbl. The oil market stabilized after a sharp drop earlier in the day, supported by OPEC+ cuts and uncertainty over the Middle East conflict.*
Other Commodities:
Natural Gas was down 0.32% at $2.490. Gold was trading up 0.68% at $2,696.95, Silver rose 1.04% to $32.100, and Copper gained 1.10% to $4.3855.US Futures:
As of 05.45 AM ET, Dow futures were down 0.04%, S&P 500 futures gained 0.03%, and Nasdaq 100 Futures rose 0.12%.
Forex:
The U.S. Dollar Index slid 0.01% to 103.25, USD/JPY was up 0.07% at 149.30, and USD/AUD gained 0.21% to 1.4948.
