On Wednesday, US stocks experienced a decline, primarily driven by a drop in technology shares, ahead of the anticipated outlook on policy rates from the US Federal Reserve later in the day.
At the opening bell, the Nasdaq Composite decreased by 1.20 percent, or 185.71 points, to reach 15,324.19, while the Dow Jones Industrial Average fell by 0.11 percent, or 40.53 points, opening at 38,426.78. The S&P 500 also opened lower by 0.52 percent, or 25.78 points, at 4,899.19.
In the previous session, the S&P 500 had a marginal decline of 0.06 percent, closing at 4,924.97 points. The Nasdaq Composite Index was down by 0.76 percent to 15,509.90 points, and the Dow Jones Industrial Average rose by 0.35 percent to 38,467.31 points.
The yield on the 10-year Treasury decreased from 4.04 percent late Tuesday to 3.96 percent.
In Europe, the STOXX 600 index showed a slight increase of 0.1 percent, driven by positive corporate updates. In Asian stock markets, Hong Kong’s Hang Seng index dropped by 1.4 percent to 15,485.07, and China’s Shanghai Composite lost 1.5 percent, closing at 2,788.55. Japan’s Nikkei 225, on the other hand, rose by 0.6 percent to 36,286.71.
Oil prices faced downward pressure on Wednesday due to subdued economic activity in China. Brent crude futures for March, expiring on the day, decreased by about 1 percent, or 83 cents, reaching $82.04 a barrel, while the more actively traded April contract was down by approximately 1 percent, or 85 cents, at $81.65. US West Texas Intermediate crude futures lost around 1.2 percent, or 95 cents, closing at $76.87.
Gold prices are set to conclude January with a negative trend. Spot gold remained flat at $2,037.30 per ounce by 1237 GMT, while US gold futures rose slightly by 0.3 percent to $2,037.30.
