Today's News Update - 5th Sept 2024 Asia Asia-Pacific markets fell sharply on Wednesday, led by declines in the Nikkei 225. Japan’s Nikkei 225 fell 4.24%, closing at 37,047.61, while the broader Topix index dropped 3.65% to 2,633.49, marking their worst single-day losses since the August 5 sell-off. The Nikkei initially plunged by as much as 5.29% before recovering somewhat. Australia’s S&P/ASX 200 declined 1.88% to 7,950.5, primarily due to falling oil prices. Australia’s second-quarter GDP grew by 1% year-on-year, matching expectations, and 0.2% quarter-on-quarter. Hong Kong’s Hang Seng index fell 1.26% in its final hour, while mainland China’s CSI 300 decreased 0.63%, reaching a new seven-month low. US The S&P 500 and Nasdaq Composite both declined for the second consecutive session, marking a weak beginning to September. The S&P 500 dropped 0.16%, ending the day at 5,520.07, while the Nasdaq Composite fell 0.3%, closing at 17,084.30. In contrast, the Dow Jones Industrial Average rose by 38.04 points, or 0.09%, finishing at 40,974.97. Commodity U.S. crude oil dropped over 1% on Wednesday, falling below $70 per barrel. The U.S. benchmark reached a session low of $68.83, the lowest since December 13, after a more than 4% decline on Tuesday. Both U.S. crude and the global Brent benchmark have wiped out their gains for 2024. Gold prices fell to their lowest level in nearly two weeks on Wednesday, marking a fourth consecutive session of declines as markets adjusted expectations for smaller rate cuts by the U.S. Federal Reserve this month. Spot gold decreased by 0.02% to $2,493.33 per ounce, while U.S. gold futures fell 0.06% to $2,524.40. The above analysis is only for the views of market researchers and is for reference only and is not Regarded as a specific investment suggestion. #Forex #trading #tradingforex