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Asian markets tumbled Friday after Wall Street’s worst monthly loss since the start of the pandemic.
Tokyo Nikkei 225 NIK,
slipped by 2% and the Australian benchmark ASX / S & P 200 XJO,
sank 1.9%. South Korea’s Kospi slipped 1.2% and Singapore’s STI benchmarks,
Taiwan Y9999,
and Indonesia JAKIDX,
also fell. The Shanghai and Hong Kong markets were closed for holidays.
The S&P 500 ended September down 4.8%, its first monthly decline since January and the largest since March 2020.
After climbing steadily for much of the year, the stock market has become volatile in recent weeks with the spread of the more contagious delta variant of COVID-19, the surge in long-term bond yields and the news that the Federal Reserve could begin to withdraw support for the economy.
A quarterly survey by the Bank of Japan found that the business climate among Japanese manufacturers has reached its highest level in nearly three years.
The results of the “tankan” survey, released on Friday, revealed sentiment among major manufacturers fell from 14 to 18. This is the highest level since the end of 2018. The reading for non-manufacturers increased only slightly, to 2 from 1.
However, she and various other investigations have found that manufacturers are grappling with shortages of computer chips and other components, amid supply chain and shipping disruptions that could hamper recovery from the pandemic.
The S&P 500 SPX,
lost 1.2% on Thursday, ending the month down 4.8% in its first monthly drop since January and the largest since March 2020, when the viral outbreak rocked markets as it wreaked havoc in the global economy. The benchmark is still up 14.7% for the year.
The Dow Jones Industrial Average DJIA,
lost 1.6% to 33,843.92, while the Nasdaq COMP,
slipped 0.4% to 14,448.58.
Bond yields fell slightly. The yield on the 10-year Treasury bill, a benchmark for many types of loans, fell to 1.48% from 1.50% on Wednesday night. It was as low as 1.32% just over a week ago.
In other trading on Friday, US benchmark crude oil CLX21,
lost 23 cents to $ 74.80 a barrel in electronic trading on the New York Mercantile Exchange. It rose 18 cents to $ 75.03 a barrel on Thursday.
Brent crude BRNX21,
fell 29 cents to $ 78.02 a barrel.
The dollar USDJPY,
was virtually unchanged at 111.28 Japanese Yen.
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