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US and European stocks fall

HQ (according to VNA) November 1, 2024 11:30

US and European stock markets both fell in yesterday's trading session as investors focused on the business results of major technology companies and remained cautious ahead of the US presidential election.

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Trader at the New York Stock Exchange, USA

At the close of trading on October 31, the Dow Jones Industrial Average fell 0.9% to 41,763.46 points. The S&P 500 Composite Index fell 1.9% to 5,705.45 points, while the Nasdaq Technology Index fell 2.8% to 18,095.15 points.

On the other side of the Atlantic, the FTSE index in London (UK) closed down 0.6% to 8,110.10 points. The CAC 40 index in Paris (France) fell 1.1% to 7,350.37 points, and the DAX 30 index in Frankfurt (Germany) fell 0.9% to 19,077.54 points.

Despite both Microsoft and Meta reporting better-than-expected earnings, their shares fell after they hinted at plans to invest in artificial intelligence (AI). Microsoft shares fell 6.1% while Meta shares fell 4.1%.

Analysts are also watching the rise in US Treasury yields, amid market expectations that the US Federal Reserve (Fed) may postpone rate cuts as US economic data generally shows signs of good growth.

Analyst Fawad Razaqzada said many investors are more cautious as the US presidential election approaches, raising speculation about the potential volatility of the S&P 500 index in the coming time.

In Vietnam, at the close of the session on October 31, VN-Index increased by 5.85 points (0.46%) to 1,264.48 points. HNX-Index increased by 0.49 points (0.22%) to 226.36 points.

HQ (according to VNA)
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US and European stocks fall