The S&P 500 dropped 0.8%, its biggest one-day drop since Aug. 23, to 2,966.60. The Nasdaq Composite also had its worst day in a month, dropping 1.5% to 7,993.63. The Dow Jones Industrial Average closed 142.22 points lower, or 0.5% at 26,807.77 after falling more than 200 points at one point.
House Speaker Nancy Pelosi will announce a formal impeachment inquiry later on Tuesday after she meets with her caucus to discuss the call Trump had earlier this year with Ukraine’s leader, Volodymyr Zelensky, where he allegedly pressured him to investigate Democratic presidential hopeful Joe Biden’s family.
“Now we have the facts, we’re ready,” Pelosi said.
Stocks trimmed some of their losses after Trump said he would release the full transcript of the controversial call. Trump said in a series of tweets he “authorized the release tomorrow of the complete, fully declassified and unredacted transcript of my phone conversation” with Zelensky.
· European markets closed slightly lower on Tuesday as traders monitored geopolitical developments on both sides of the Atlantic.
The pan-European Stoxx 600 ended the session just below the flatline, with travel and leisure stocks adding 1% to lead gains.
· Asia markets traded lower Wednesday morning as investors watch for developments in the United States after House Speaker Nancy Pelosi announced a formal impeachment inquiry into President Donald Trump.
In Japan, the Nikkei 225 slipped 0.57% in early trade as shares of index heavyweights Softbank Group and Fanuc fell 2.11% and 1.74%, respectively. The Topix index also declined 0.48%.
Over in South Korea, the Kospi shed 0.54%. Australia’s S&P/ASX 200 also declined 0.7%.
The MSCI Asia ex-Japan index traded 0.19% lower.
Reference: Reuters, CNBC
Thai
Eng