Stocks declined across the globe on Wednesday as key Wall Street indexes fell due to increasing tensions between the US and China and Nvidia’s (NVDA, Financial) upcoming earnings release. MSCI All World dropped 0.67%, while European stocks were down 0.1%. On Wall Street, the Dow Jones Industrial fell 0.26%, the S&P 500 fell 0.75%, and the Nasdaq Composite fell 1.11%, led by declines in consumer discretionary, technology, and communication services.
Despite the situation between Russia and the West becoming more tense, investors remain bearish. A missile strike by Ukraine raised hopes in gold and government bonds safe-haven demand, which was somewhat quietened by Russian Foreign Minister Sergei Lavrov.
Interest now shifts to Nvidia; the company’s shares declined 2.2% before its third-quarter report. With options suggesting that the institution moved 9% up or down, this could profoundly affect other companies’ earnings. On the other hand, the greenback advanced 0.6% to 106.74 points, following perceived inflationary sentiments in view of Trump’s policies for the American nation. The US dollar against the Chinese yuan did not change its lending rates, and closer home mainland Chinese stocks and the Hang Seng also rose a little.
This article first appeared on GuruFocus.
