U.S. and European stock markets continue to fall
Dollar and Bitcoin are also weak
local time), a trader is examining stock prices while wearing a hat representing a Donald Trump supporter. New York (USA)/AP Yonhap News”/>
▲At the New York Stock Exchange (NYSE) on the 4th (local time), a trader is examining stock prices while wearing a hat representing a Donald Trump supporter. New York (USA)/AP Yonhap News
Financial market investors around the world took a cautious stance a day ahead of the unpredictable US presidential election. According to the Wall Street Journal (WSJ) on the 4th (local time), the New York stock market fell all at once, with the Dow falling 0.6%, the S&P 500 index, and the NASDAQ falling 0.3% each. In Europe, German and French stock markets were weak, and the STOXX Europe 600 index, a pan-European stock index, fell 0.3%.
Although the drop was not large, the market generally moved cautiously while waiting for the results of the presidential election. Jim Leventhal, chief investment strategist at Serity Partners, said, “We don’t know who will be elected. “We just sit and watch this movie.” Jim Baird, Chief Investment Officer (CIO) of Plantemoran Financial Advisors, advised, “You have to be very cautious about making assumptions about how the presidential election will unfold.”
▲Wall Street Journal (WSJ) Dollar Index. Closing price on the 4th (local time) was 98.73. Source: MarketWatch
In the foreign exchange market, the dollar weakened as the so-called ‘Trump trade’ weakened. In the meantime, investors were concerned about aggressive tariff increases when former President Donald Trump was elected. inflationAs this relapses base interest rate It was expected that the cut would be delayed and the dollar would rise. Accordingly, the Wall Street Journal (WSJ) dollar index, which shows the value of the dollar against 16 major currencies, reached its highest since July 30 on the 1st and then fell 0.4% on the day before the presidential election. Bloomberg News explained, “Doubts about the Trump trade are weighing on the dollar.”
The price of virtual assets (virtual currency), which were soaring during the Trump trade, also fell. The price of Bitcoin plunged 3% that day and was traded at around $67,100.
