Stock markets declined sharply

Major stock indices of US and Europe declined sharply yesterday. Nasdaq lost 4.29% in a single day, followed by S&P 500 losing 3.20%.

Stock Indices 9 May Change (%)
Nasdaq (USA) (4.29)
S&P 500 (USA) (3.20)
CAC 40 (France) (2.75)
UK FTSE 100 (2.32)
Germany DAX (2.15)
Dow Jones (USA) (1.99)
Australia All Ordinaries (1.47)
Nikkei 225 (Japan) (1.25)
Mumbai BSESN (0.67)
STI (Singapore) (0.51)
Shanghai Composite 0.09
Hang Seng (HK) Mkt Closed

The year-to-date changes as at 9 May are shown in the table below.

Stock Indices 31-Dec-21 9-May-22 Change (%)
Nasdaq (USA) 15,644.97 11,623.25 -25.7%
Shanghai Composite 3,639.78 3,004.14 -17.5%
S&P 500 (USA) 4,766.18 3,991.24 -16.3%
Germany DAX 15,884.86 13,380.67 -15.8%
CAC 40 (France) 7,153.03 6,086.02 -14.9%
Hang Seng (HK) 23,397.67 20,001.96 -14.5%
Dow Jones (USA) 36,338.30 32,245.70 -11.3%
Nikkei 225 (Japan) 28,791.71 25,990.20 -9.7%
Mumbai BSESN 58,253.82 54,470.67 -6.5%
Australia All Ordinaries 7,779.20 7,357.90 -5.4%
UK FTSE 100 7,384.54 7,216.58 -2.3%
STI (Singapore) 3,123.68 3,275.07 4.8%

Nasdaq lost 25.7% so far from the start of the year. Shanghai Composite lost 17.5%. The war in Ukraine and pandemic lockdown in Shanghai and major restrictions in Beijing fueled the fear of inflation and recession of global economies.

STI was resilient, up 4.8% while the other indices were deep in the red.

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