Negative trends prevailed across major global stock market indices on October 13. Most indices in the US and Europe declined, while mixed movements were observed in the Asia-Pacific region, APA-Economics reports.
In the US, the Dow Jones index fell by 180.45 points, or 0.35%, to 51,670.10 points, while the S&P 500 index declined by 1.79 points, or 0.02%, to 7,805.45 points. The Nasdaq Composite index dropped by 41.52 points, or 0.15%, to 27,204.38 points, while the NYSE Composite index decreased by 0.02% to 23,985 points. Meanwhile, Canada's S&P/TSX Composite index rose by 319.36 points, or 0.90%, to 35,983.98 points.
All major indices in Europe also declined. The Euro Stoxx 50 index fell by 0.55% to 6,167.01 points, the UK's FTSE 100 index decreased by 0.06% to 10,650.33 points, and Germany's DAX index dropped by 0.07% to 25,259.90 points. France's CAC 40 index declined by 0.07% to 7,827.63 points, while Spain's IBEX 35 index fell by 0.39% to 19,210.70 points.
Mixed trends were observed in the Asia-Pacific region. Japan's Nikkei 225 index rose by 538.99 points, or 0.80%, to 68,316.51 points, while the TOPIX index increased by 0.02% to 4,111.47 points. Hong Kong's Hang Seng index gained 0.16% to reach 24,384.95 points. China's CSI 300 index declined by 0.31% to 4,262.40 points, while Australia's S&P/ASX 200 index fell by 0.68% to 8,724.20 points. The regional MSCI AC Asia Pacific index dropped by 1.44% to 269.58 points.
The main reasons for the market declines were concerns over the profitability of large investments in the artificial intelligence sector and caution ahead of the release of US inflation data. Shares of US semiconductor companies fell by more than 2%. Banks' quarterly financial results also failed to fully meet investors' expectations.
In Europe, reports of China's progress in semiconductor manufacturing heightened concerns over competition, triggering sell-offs in technology stocks. In Asia, doubts about the future earnings of artificial intelligence companies and tensions in the Middle East also put pressure on markets. Nevertheless, some Japanese indices showed signs of recovery following previous declines.