· The Dow Jones Industrial Average fell sharply on Friday, weighed down by steep losses in Boeing and Johnson & Johnson. The broader market was also pressured by a decline in Netflix shares that led other Big Tech stocks lower.
The 30-stock index ended the day down 255.68 points, or 0.95% to close at 26,770.20. Boeing dropped 6.8% — its biggest one-day drop since February 2016 — on news that company instant messages suggest the aerospace giant misled regulators over the safety systems of the 737 Max. Johnson & Johnson slid 6.2% after the company recalled some baby powder upon finding traces of asbestos.
Friday’s losses wiped out the Dow’s gains for the week. The index closed down 0.2% week to date.
Meanwhile, S&P 500 pulled back 0.4% to end the day at 2,986.20 while the Nasdaq Composite slid 0.8% to 8,089.54. Netflix shares dropped more than 6%. Facebook, meanwhile, slid 2.2% while Amazon fell1.6%. Alphabet shares pulled back 0.4%.
· European stocks closed lower Friday afternoon as traders await signals as to whether a Brexit deal agreed between the U.K. and EU will pass muster with British lawmakers in parliament.
The pan-European Stoxx 600 ended provisionally lower by 1.15%, with autos trading down 1.45 % on the back of a profit warning from Renault, while basic resources added 0.33%.
· Asia Pacific markets traded mixed on Monday as Brexit developments over the weekend created further uncertainty over the United Kingdom’s impending departure from the European Union.
In Japan, the Nikkei 225 rose 0.19% while the Topix index added0.35%. South Korea’s Kospi was up 0.2% while Australia’s ASX 200dipped 0.29%, with most sectors declining.
Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat.
Reference: Reuters, CNBC
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