13 C
London
Sunday, November 27, 2022

FTSE 100 Live 27 April: Tech stocks slide on growth outlook, Lloyds and Glaxo post updates

Must read

Best early Cyber ​​Monday 2022 TV deals you can get: LG OLED, TCL QLED and more

Black Friday and Cyber ​​Monday are great opportunities to get the 4K TV of your dreams for a lower price than usual. These...

Guidelines for organizing and leading successful meetings

When it comes to leadership and management, leaders sometimes ignore meeting management. Meetings that are productive are no coincidence. Calendar - Calendar Meetings that are...

Who is Maël Lucas from “Love without limits”?

Love Without Borders is a brand new reality TV series airing on Bravo in a few days. The next reality dating series follows...

Alisa Mote Facts On Kye Kelley’s Ex Wife: Who Is Mote Dating?

Alice Mote is the ex-wife of a TV star and well-known drag racer Ky Kelley. Her former husband Kye is also a member...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.
1651041928

Tech stocks slide, oil price higher

Growth and technology stocks led a Wall Street rout last night as the darkening economic outlook caused investors to take cover.

The Nasdaq fell almost 4% to a one-year low and the Dow Jones Industrial Average S&P 500 lost more than 2% during another session of volatility. Apple and Amazon shares fell 4% and Tesla slumped 12% on fears that Elon Musk may have to offload some of his stake in the electric car marker in order to finance the Twitter takeover.

The Nasdaq is now down by more than 20% this year and by 10% in April, which is usually a strong month for the tech-led index.

Analysts at Nordic bank SEB said: “Concerns about growth, interest rates, component shortages, and investment prices are some of the heavy clouds that are currently hanging over equity markets.”

Hopes of a rebound in today’s Wall Street session have been dashed by a mixed reception to results after the closing bell from Microsoft and Alphabet. The Google owner missed its earning estimates, leaving shares a further 3% lower in after-hours trading.

Michael Hewson, chief market analyst at CMC Markets, expects the FTSE 100 index to open 10 points lower at 7376, having surrendered most of the gains achieved in the early part of yesterday’s session.

He said the weakness partly reflected a lack of confidence in the ability of central banks to engineer a “soft landing” as they tackle inflation.

The Brent crude price, meanwhile, is higher at $105 a barrel after a spike caused by Russia saying that it would cut natural gas supplies to Poland and Bulgaria.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Best early Cyber ​​Monday 2022 TV deals you can get: LG OLED, TCL QLED and more

Black Friday and Cyber ​​Monday are great opportunities to get the 4K TV of your dreams for a lower price than usual. These...

Guidelines for organizing and leading successful meetings

When it comes to leadership and management, leaders sometimes ignore meeting management. Meetings that are productive are no coincidence. Calendar - Calendar Meetings that are...

Who is Maël Lucas from “Love without limits”?

Love Without Borders is a brand new reality TV series airing on Bravo in a few days. The next reality dating series follows...

Alisa Mote Facts On Kye Kelley’s Ex Wife: Who Is Mote Dating?

Alice Mote is the ex-wife of a TV star and well-known drag racer Ky Kelley. Her former husband Kye is also a member...

Holiday travel with Covid, RSV and flu means it’s time to bring back mask mandates

Going into the holiday season last year, rising Covid-19 cases overwhelmed hospitals. This year, hospitals are overwhelmed by a combination of Covid, respiratory...