Accra:Global stock markets largely experienced a downturn on October 19, with most major indices showing negative trends.
According to Azeri-Press news agency, the United States saw varied results as the Dow Jones index fell by 36.38 points, or 0.07%, to 51,966.03 points, while the S&P 500 index rose by 31.29 points, or 0.41%, to 7,690.73 points. The Nasdaq Composite index increased by 290.86 points, or 1.11%, to 26,430.89 points. Meanwhile, the NYSE Composite index declined by 0.50% to 23,967.07 points, and Canada’s S&P/TSX Composite index fell by 0.69% to 35,928.63 points.
In Europe, all major indices experienced declines. The Euro Stoxx 50 index dropped by 59.42 points, or 0.96%, to 6,144.81 points. The UK’s FTSE 100 index fell by 1.08% to 10,764.69 points, while Germany’s DAX index decreased by 1.18% to 25,319.77 points. France’s CAC 40 index declined by 1.11% to 7,868.05 points, and Spain’s IBEX 35 index fell by 1.49% to 19,039.30 points.
The Asia-Pacific region also saw negative dynamics. Japan’s Nikkei 225 index dropped by 631.44 points, or 0.97%, to 64,285.26 points, and the TOPIX index declined by 49.22 points, or 1.21%, to 4,018.26 points. Hong Kong’s Hang Seng index fell by 0.95% to 23,956.93 points, while China’s CSI 300 index declined by 0.51% to 4,153.11 points. Australia’s S&P/ASX 200 index decreased by 0.31% to 8,818.50 points, and the broader MSCI AC Asia Pacific index fell by 0.07% to 264 points.
The mixed market performance was attributed to concerns over financing in the artificial intelligence sector and rising political risks in Europe. In the United States, technology and semiconductor stocks began to recover after sharp sell-offs the previous week. The main semiconductor sector index rose by 1.6% following eight consecutive days of declines. A 5% increase in Amazon shares and a 3.8% rise in Tesla shares supported the Nasdaq Composite index. However, heavy borrowing and investment expenditures for AI infrastructure remained a focal point for investors.
In Europe, mass protests in France and concerns over the country’s budget deficit and public debt intensified selling pressure. Rising yields on French bonds also had a negative impact on other European markets.
In Asia, significant financing needs for artificial intelligence projects, high interest rates, and uncertainty regarding upcoming financial reports increased investor caution. Although declining oil prices provided some market support, they did not prevent declines in the region’s major indices.