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Business News/ Markets / Stock Markets/  Global markets update: S&P 500, Dow Jones drop; Nasdaq gains

On the Wall Street, S&P 500 and Dow Jones dropped on Thursday, led by Walt Disney and regional banks.

Shares of Walt Disney tumbled 8.73% at $92.31. The company on Wednesday in earnings report said it lost 4 million streaming subscribers.

Regional banks slipped on renewed worries about the health of banking system after PacWest Bancorp said its deposits fell 9.5% last week and that it had posted more collateral to the Federal Reserve to boost its liquidity.

PacWest stock tanked 22.70% at $4.70.

The S&P 500 fell 7.63 points, or 0.18%, at 4,130.01 points. The Dow Jones Industrial Average lost 227.35 points, or 0.68%, at 33,303.98.

The Nasdaq Composite gained 0.16%, lifted by Alphabet shares. Google-parent Alphabet rose 4.31% at $116.57 after it rolled out more artificial intelligence products.  

The yield on 2-year treasury fell to 3.864% from above 4% a day earlier. The yield on 10-year notes fell 4.6 basis points to 3.390%.


The US dollar rose to 134.54 Japanese yen from 134.26. The euro fell to $1.0918 from $1.0977.


Canadian shares declined on Thursday on a fall in commodity prices. The Toronto Stock Exchange's S&P/TSX composite index ended down 81.70 points, or 0.4%, at 20,417.61.



European shares mostly closed lower on Thursday,  led by energy stocks.

The pan-European STOXX 600 index closed flat, after rising as much as 0.7% earlier in the day. Energy sector index fell 1.6%, on lower oil prices.

Britain’s FTSE 100 fell 0.1% at 7,730.58. Germany’s DAX declined 0.4% at 15,834.91. France’s CAC 40 rose 0.3% at 7,381.78.

Among the losers, Bayer shares plunged 7.5%, after it warned that 2023 results could come in at the lower end of its target range.


Asian markets fell on Thursday after China’s weak economic data.

In China, producer prices fell for the seventh consecutive month, due to sluggish domestic demand and lower commodity costs.

Hong Kong’s Hang Seng index lost  0.1% at 19,743.79. In China, Shanghai Composite dropped 0.3% at 3,309.55. South Korean benchmark Kospi fell 5.51 points, or 0.22%, at 2,491.

Japan’s Nikkei 225 closed flat.

Australia’s S&P/ASX 200 index slid 0.1%. New Zealand's benchmark S&P/NZX 50 index fell 0.8% at 11,887.76 points. 



Gold for June delivery fell $16.60 to $2,020.50 an ounce. Silver for July delivery slipped $1.24 to $24.42 an ounce.

Energy prices

Brent crude for July delivery declined $1.43 to $74.98 a barrel on Thursday. US crude oil benchmark for June delivery fell $1.69 to $70.87 a barrel.

Natural gas for June was steady at $2.19 per 1,000 cubic feet.

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Updated: 12 May 2023, 02:19 AM IST
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