There were significant drops on foreign stock exchanges. As a result, the WIG20 quotation fell below 1,900 points.
At the beginning of Thursday’s session, the WSE indices rose significantly, but the optimism weakened by the hour and finally the WIG20 ended the day below the line. It was just a foretaste of what we are seeing today. Shortly after the start of trading, the blue chips index is at 1,898 points, which means a decrease of nearly 2 percent. JSW’s shares are losing the most, by more than 4 percent. Allegro is also pregnant, with prices falling by about 2.8 percent. All companies in the WIG20 index glow red.
Small and medium-sized companies are also booming. mWIG40 drops by 1.7% and sWIG80 loses 1.5%.
There was a clear sell-off on Wall Steet yesterday. The S&P 500 fell by nearly 2.5 percent and the Nasdaq by 3.5 percent. The signal for the bears came from the debt market. The yield on US 10-year treasury bonds briefly exceeded 1.6% on Thursday. and has been at the highest level for over a year. Growing profitability worries investors who fear it may be due to inflation rather than economic recovery. Fear of inflation is causing investors to speculate that the Federal Reserve may be forced to change policies earlier than expected.
The anxiety also spilled over into the Asian stock markets. Bond yields also increased in this region. The Japanese Nikkei fell by nearly 4 percent on Friday, and the South Korean Kospi by 2.8 percent. At the end of trade, China’s Shanghai Composite was losing 2.1 percent and Hong Kong’s Hang Seng was losing 3.5 percent. The sellers’ target was primarily technology companies, following the decline of Nasdaq. The stocks of companies such as Alibaba, Tencent and Xiaomi decreased by several percent.
The declines are also visible in the raw materials market. Brent and WTI crude oil are cheaper by more than 1 percent today. Gold, on the other hand, is down 0.6 percent to $ 1,759, the lowest level since last June. Silver is cheaper by 2.5 percent.
Source: https://www.rp.pl by www.rp.pl.
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