Dow Recovers as Investors Hope to See the Trade Deal, Asia Markets Face Volatility
Dow has recovered from its loss as investors hope to see the trade deal while Asia markets face volatility in the morning session on May 7, 2019.
Dow Jones Industrial Average was expected to face a sharp plunge on Monday after the trade tension between the U.S. and China had escalated the night before from the U.S. President Donald Trump’s Twitter, said that the trade deal was going too slow and he would raise tariffs on Chinese goods to 25% by Friday, while WSJ cited that China was about to cancel the meeting this week.
At the opening bell, Dow Jones sank 1.29% (-340 points) at the opening bell, S&P 500 dipped 1.7% and Nasdaq opened 2.3% lower. However, as the session went on and China had been reportedly to prepare for the upcoming meeting, the market started to recover its earlier loss.
Dow Jones finished the day down just 66.47 points or 0.25% at 26,438.48, while the S&P 500 closed 0.4% lower, and Nasdaq plunged 0.5%.
As of 9:20 local time in Bangkok, Asia markets were mixed with volatility. Nikkei was back to the trading with a loss of 0.97%, SSEC hiked 0.66%, HSI up 0.67%, ASX 200 gained 0.81%, and KOSPI slipped 1.02%.
On May 3, 2019, SET closed at 1,679.05 points, dipped 0.12 points or 0.01% with a trading value of THB 43 billion.