The decision hammered chip manufacturers, with the Philadelphia Stock Exchange Semiconductor Index seeing its lowest close since late 2020, while Bloomberg News reported that USD240 billion had been slashed from companies' market values globally. The US Department of Commerce said the measures include export restrictions on some chips used in supercomputing, and toughen requirements on the sale of semiconductor equipment. The announcement on Friday marked the latest volley in a long-running stand-off between the two superpowers that has seen them face off over a range of issues including technology, trade, Hong Kong, Taiwan, and human rights. In New York on Monday, the Dow Jones Industrial Average ended down 0.3%, the S&P 500 down 0.8% and the Nasdaq Composite down 1.0%.Ĭhipmakers were notable fallers, with AMD down 1.0% and Nvidia shedding 3.4%.Ĭhipmakers also plunged in Asian trade Tuesday over new US measures to limit China's access to high-end semiconductors with military uses, a move that wiped billions from companies' valuations worldwide. Against the yen, the dollar was trading at JPY145.71, flat from JPY145.72. The euro stood at USD0.9688 on Tuesday morning, down from USD0.9700 late Monday. In the three months to July, the unemployment rate was 3.6%. The report is expected to show the jobless rate was steady at 3.6% in the three months to August, according to FXStreet cited consensus.
UK unemployment figures are reported at 0700 BST. The pound was quoted at USD1.1041 early Tuesday in London, up slightly from USD1.1038 late Monday. "With the latest Fed minutes due tomorrow, and the latest US CPI report due on Thursday the mood is likely to remain a little fraught as markets assess the prospect of another 75bps rate move by the Fed in November, and the risks that the US central banks actions might have in pushing the global economy into recession," CMC Markets analyst Michael Hewson commented. The FTSE 100 index closed down 31.78 points, 0.5%, at 6,959.31 on Monday, extending its losing streak to four days. IG says futures indicate the FTSE 100 index of large-caps to open 36.2 points, 0.5%, lower at 6,923.11 on Tuesday. (Alliance News) - Stocks in London are expected to open lower on Tuesday, with the FTSE 100 set to add to recent losses, as markets continue to be pounded by interest-rate worries.
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