Global Market: Concerns about AI are not ending in the US. Dow Jones slipped 1100 points. Nasdaq also fell more than 2%. NVIDIA has fallen 8 percent from high. Bad job data also created pressure. Asian markets also opened with heavy losses. GIFTY NIFTY slipped 70 points. However, Dow futures rose by about 200 points.
condition of American markets
A reversal was seen in the market yesterday. US markets closed at the day’s low. Indices hit their lowest levels in 2 months. Dow Jones closed down 400 points. The S&P500 index closed down more than 1.50%. Nasdaq showed pressure of more than 2%. CBOE VIX came out above 26.
Why did the American market fall?
Nvidia closed down 3% yesterday. Nvidia fell 8% from yesterday’s high. Deutsche Bank’s valuation of shares is correct. Jobs figures also created pressure. Expectations of rate cut decreased in December. Only 39% people expect a 0.25% cut.
What did you say, Dalio?
We are definitely in a bubble. The bubble is yet to burst. Bubble does not mean we should sell. Monetary policy will not burst the bubble. This can definitely happen with higher wealth tax. It is advisable to invest in instruments like gold.
Walmart’s change in strategy
The stock closed 6.5% higher yesterday. Raised guidance for the second consecutive quarter. Raised sales and profit guidance. Sales are expected to grow 4.8% to 5.1%. EPS guidance also increased to $2.58 – $2.63.
Pressure on crude oil prices
Oil prices continued to fall for a third straight session on Friday, as the US pushed for a Russia-Ukraine peace deal that could increase oil supplies to the global market, while uncertainty over a US interest rate cut reduced investors’ risk appetite.
Brent crude futures fell 71 cents, or 1.12%, to $62.67 a barrel, after falling 0.2% in the previous session. U.S. West Texas Intermediate crude was down 71 cents, or 1.20%, at $58.29 a barrel after closing 0.5% lower on Thursday.
Asian market
Meanwhile, today the Asian markets are witnessing a decline in trading. GIFT NIFTY is showing a slight decline of 3.50 points. At the same time, Nikkei is seen falling by about 2.16 percent at around 48,747.00. At the same time, Strait Times is showing a weakness of 0.77 percent. Taiwan’s market is trading at 26,589.78, down 3.18 percent. Whereas Hang Seng is seen falling by 2.20 percent at the level of 25,255.00. At the same time, Kospi is trading with a decline of 3.72 percent. At the same time, Shanghai Composite is showing a decline of 1.98 percent at the level of 3,851.75.