Data pointing to a tight US labour market fuelled concerns that the US Federal Reserve will maintain its aggressive path of rate hikes. American Express, the only major US card company with credit exposure and highly sensitive to higher rates, fell 2.4%. Amazon.com (-1.9%) and Microsoft (-1.7%) were among the biggest drags on the market after announcing recent plans to cut thousands of jobs. Shares of Procter & Gamble fell 2.1% after warning of commodity costs pressuring profits. At the close of trade, the Dow Jones index fell 252 points or 0.8%. The S&P 500 index lost 0.8%. And the Nasdaq index shed 105 points or 1%.
Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 12 12 124 AFSL: 234945 (the Bank) and a Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.
Market Close 30 Mar 23: ASX 200 lifts for 4th day
CommSec Insights 30 Mar 23: The Week Ahead
Morning Report 30 Mar 23: US sharemarkets advanced
Market Close 29 Mar 23: The Aussie sharemarket lifted for the 3rd straight day
Executive Series 24 Mar 23: Washington H. Soul Pattinson (SOL) Chairman, Rob Millner
Morning Report 29 Mar 23: US sharemarkets fell on Tuesday
Market Close 28 Mar 23: Aussie market lifts for the 2nd straight day
Morning Report 28 Mar 23: US blue chips rise on Monday but technology stocks slip
Market Close 27 Mar 23: ASX 200 starts week with modest gains
Morning Report 27 Mar 23: European stocks fall as Deutsche Bank sparks another bank rout
Market Close 24 Mar 23: ASX 200 slides for a 7th straight week
Morning Report 24 Mar 23: US sharemarkets rebounded on Thursday
Market Close 23 Mar 23: ASX 200 snaps 2-day winning streak
CommSec Insights 23 Mar 23: The Week Ahead
Morning Report 23 Mar 23: US sharemarkets fell on Wednesday
Market Close 22 Mar 23: ASX 200 lifts for the 2nd straight day
Executive Series 10 March 23: GQG Partners Chairman & CIO, Rajiv Jain
Morning Report 22 Mar 23: US and European stocks gains as confidence returns to Bank shares
Market Close 21 Mar 23: Australian sharemarket rebounds on Tuesday following a strong lead on Wall Street.
Morning Report 21 Mar 23: US sharemarkets rebounded on Monday
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