AM Report 16 Aug 18: Emerging market concerns hit stocks and metals.

US sharemarkets fell on Wednesday, led lower by technology shares. Chinese technology giant Tencent's shares fell by 6.7% after reporting its first profit decline in almost 13 years. Shares of industrials' Boeing and Caterpillar both declined by 2.2% on tariff concerns. Department store Macy's shares fell by 16% as investors took profits on margin worries. Tesla shares fell 2.6% on reports that the US Securities and Exchange Commission had sent a subpoena regarding Elon Musk's privatisation plans. The Dow Jones index fell by 137 points or 0.5% after being down by around 334 points in earlier trading. The S&P 500 index fell by 0.8% and the Nasdaq fell almost 97 points or 1.2%.

 

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