Sun, 20 Jun 2021

NEW YORK, New York - It was a roller-coaster ride for U.S. investors on Monday as technology stocks got smashed. At the same time, the Dow Jones soared above 35,000, setting a new all-time record high, before crumbling more than 300 points to finish down.

At the close on Monday, the technology-driven Nasdaq Composite had lost 350.38 points or 2.55 percent to finish at 13,401.86.

The Dow Jones shed 34.94 points or 0.10 percent to 34,742.82.

The Standard and Poor's 500 lost 44.18 points or 1.04 percent to 4,188.42.

On foreign exchange markets, the U.S. dollar, despite the major stock losses, continued to be crushed by some of the major currencies. The British pound jumped to 1.4131. The Japanese yen strengthened to 108.78. The Swiss franc was in demand at 0.9006.

The euro was little changed from its Asian close, at 1.2142. The Canadian dollar rose to 1.2090. The Australian dollar fell a few points to 0.7841, while the New Zealand dollar was unchanged from its Asian close at 0.7273.

On overseas equity markets, German stocks closed almost unchanged on Monday, with the benchmark DAX index up 0.76 points, or 0.00 percent, to close at 15,400.41 points.

European health care company Fresenius SE won the most among the blue chips, with its shares up 3.85 percent. Sportswear and equipment maker Adidas and automotive manufacturer BMW rose by 2.08 percent and 1.84 percent respectively, Xinhua reported.

European multinational online food-delivery service Delivery Hero lost the most among the blue chips, falling 6.15 percent. Semiconductor manufacturer Infineon Technologies and Siemens Energy went down by 2.92 percent and 2.10 percent respectively.

Adidas was the most-traded share, with a turnover of 248.59 million euros ($302.51 million), the Xinhua report said.

In London, the FTSE 100 dipped 6.03 points or 0.08 percent to 7,123.68.

The Paris-based CAC 40 inched up 0.48 of a point or 0.01 percent to 6,385.99.

On Asian markets, the Australian All Ordinaries jumped 83.50 points or 1.14 percent to 7,408.70.

The S&P/ASX 200 rose 1.3 percent to 7,172.80, a new historical high.

"We are now seeing a value-led rally ripping through the Australian share market and it is only a matter of time before the market makes a move to 7,500 and we could see an outperformance of the U.S. share market over the remainder of the year due to the greater representation of value share in Australia," Head of investments and capital markets at VanEck Australia, Russel Chesler told The Sydney Morning Herald on Monday.

In Japan, the Nikkei 225 gained160.52 points or 0.55 percent to 29,518.34.

China's Shanghai Composite advanced 9.12 points or 0.27 percent to 3,427.99.

The Hang Seng in Hong Kong slipped 14.99 points or 0.05 percent to 28,595.66.

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