Asian equities negative after Wall Street eve crash. The Nikkei 225 index on the Tokyo stock exchange closed the session down by 1.71% at 24,790.95 points. The Shanghai stock exchange drops 1.96%, Hong Kong drops 1.46%, Sydney -0.83%, Seoul -0.90%.
US futures are down after the strong sell-off that hit Wall Street yesterday, and which saw the S&P 500 capitulate by almost 3%, in what was the worst session in more than a year.
The Dow Jones plunged nearly 800 points, falling for the fifth consecutive session, while the Nasdaq Composite dropped 3.6%, slipping into the bear market, as it was lower than the all-time record tested in November 20. %.
The negative trend of the US stock exchange continues with futures; those on the Dow Jones drop by over 200 points; those on the S&P are down 0.63% and those on the Nasdaq are down by 0.83%.
Oil prices still up, with WTI futures up 3% to $ 122.88 a barrel and Brent + 3.47% to $ 127.48. Fears of a US and European embargo on Russia’s oil and gas yesterday led WTI to skyrocket to a 13-year high of $ 130 and Brent to $ 139.13, however the highest since July 2008.
The commodities rally puts pressure on the stocks of airlines, which fear new spikes in fuel prices: on the Tokyo stock exchange, Japan Airlines capitulated up to over -6%. Down at Seoul Korean Air Lines. Singapore Airlines shares fell in Southeast Asia, sales on China Eastern Airlines and Cathay Pacific in Hong Kong.