US stocks slid on Wednesday on weak economic data and as investors digested minutes from the Federal Reserve’s June meeting.
The S&P 500 fell 8.94 points, or 0.20%, at 4,446.65 points. The Nasdaq Composite lost 25.12 points, or 0.18%, at 13,791.65. The Dow Jones Industrial Average shed 129.64 points, or 0.38%, to 34,288.83.
Minutes showed a united Fed agreed to hold interest rates steady at the June meeting.
A report showed on Wednesday, new orders for US-made goods rose less than expected in May.
Shares of Meta Platforms gained ahead of the expected release of its Twitter-rival app, Threads, on Thursday.
Bond market
The yield on the 10-year treasury rose to 3.92% from 3.86% Monday. The 2-year treasury yield slipped to 4.93% from 4.94%.
Currencies
The US dollar rose to 144.68 Japanese yen from 144.48. The euro fell to $1.0853 from $1.0887.
Europe
European stocks declined on Wednesday as Eurozone economic activity fell in June.
According to revised figures from the HCOB Eurozone Composite purchasing managers’ index, Eurozone economic activity fell to 49.9 points in June, just under the 50-point mark indicating zero growth.
The EURO STOXX 50 index closed 0.9% lower, its worst session since end May. The STOXX 600 dropped 0.7%.
Britain’s FTSE 100 fell 1% at 7,442.10. Germany’s DAX shed 0.6% at 15,937.58. France’s CAC 40 lost 0.8% at 7,310.81. Asia
In Asia, stock markets fell on Wednesday on disappointing Chinese economic data.
In China, the Caixin private survey of the services sector showed that activity slowed sharply in June at a much faster pace than expected.
Hong Kong’s Hang Seng index dropped 1.6% at 19,110.38. China’s Shanghai Composite lost 0.7% at 3,222.95.
Japan’s Nikkei 225 fell 0.3% at 33,338.70.
Australia’s S&P/ASX 200 index closed 0.4% lower at 7,253.20. In New Zealand, the benchmark S&P/NZX 50 index advanced 0.2% to 12,002.46.
Energy prices
US crude oil benchmark for August delivery rose $2 to $71.79 a barrel.
Brent crude for September delivery rose 40 cents to $76.65 a barrel on Wednesday.
Natural gas for August delivery fell 5 cents to $2.66 per 1,000 cubic feet.
Bullion
Gold for August delivery fell $2.40 to $1,927.10 an ounce. Silver for September delivery rose 29 cents to $23.40 an ounce.
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Updated: 06 Jul 2023, 01:59 AM IST