Stock market today: Asian markets track Wall Street’s decline, eroding last year’s gains
11 months, 3 weeks ago

Stock market today: Asian markets track Wall Street’s decline, eroding last year’s gains

Associated Press  

Asian shares dropped Wednesday after Wall Street started 2024 with a slump, giving back some of its powerful gains from last year. Hong Kong’s Hang Seng lost 1.1% to 16,603.00, influenced by a 2% drop in technology shares, and the Shanghai Composite index shed 0.1% to 2,960.12, with persisting concerns regarding the strength of China’s economic growth adding downward pressure. Some of the market’s sharper drops came from stocks that were last year’s biggest winners. Tesla, another member of the “Magnificent 7” Big Tech stocks that drove well over half of Wall Street’s returns last year, swung between losses and gains after reporting its deliveries and production for the end of 2024.

History of this topic

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