Market Updates

Pre-Market Report – Tuesday 22 April: US markets fall hard on low volume day | SPI closed


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Wall Street saw red as Trump continued his attacks on Fed Chairman Powell. Markets feared for the central bank’s independence. S&P 500 down 2.36%, NASDAQ down 2.55%. Dow dropped and stayed near low throughout day. Rose a little before close. Down 972 points. All sectors down. Growth sectors fared worst as risk off sentiment reigned. Consumer Cyclicals and Tech both down. Telsa drove consumer cyclicals sell off. Down 5.7% ahead of earnings later today. NVIDIA was leader of Tech fall. Down 4.5%. Suffered again from US clampdown on China exports. Uber down 3.1% after FTC sues for misleading subscribers. Resources down. Oil down 2% after signs of progress in US-Iran talks.

Waiting for Tesla - MQG sells asset management business.

ASX SPI futures closed over Easter. Expected to fall given drop in US.

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