NEW YORK, New York – U.S. stocks struggled to regain momentum on Friday following losses over the course of the week.

A filing for bankruptcy by the world’s largest property developer, Evergrande, the reaching of a historic low by China’s yuan, and rising U.S. Treasury yields kept pressure on stock markets and helped the greenback maintain its recent strength.

“We’ve long been overdue for a correction in equities, and it’s clear that higher rates have now become the catalyst for that,” Michael Reynolds, vice president investment strategy at investment and wealth advisory firm Glenmede told Reuters Friday.

“When the opportunity cost for capital becomes more competitive, valuations should correct on risk bearing assets, especially large cap equities which have been trading at significant premiums this year.”

The Standard and Poor’s 500, a key benchmark in the United States, reported a minor dip of -0.01 percent, closing at 4,369.71 after a -0.65 point decrease.

On the other hand, the Dow Jones Industrial Average ended in positive territory, gaining +0.07 percent to finish at 34,500.66, an increase of +25.83 points.

The technology-heavy NASDAQ Composite in the United States reported a -0.20 percent decrease, settling at 13,290.78 after a -26.16 point drop.

Global Forex Market Sees Mixed Movement in Closing Exchange Rates on Friday

The world foreign exchange markets closed on a diverse note Friday, as various currency pairs witnessed fluctuating rates against the backdrop of economic data releases and geopolitical developments. While some currencies experienced marginal gains, others faced minor losses in the closing rates.

The euro to US dollar exchange rate, EURUSD, settled at 1.0873, representing a +0.01 percent increase, or a rise of +0.0001 points.

In contrast, the USDJPY settled at 145.33, reflecting a -0.34 percent decline, which amounted to a decrease of -0.49 points.

The Canadian dollar USDCAD, saw a +0.01 percent rise Friday, settling at 1.3546 and gaining +0.00010 points.

Conversely, the British pound, GBPUSD, experienced a -0.07 percent dip, concluding at 1.2737, representing a loss of -0.00086 points.

The Swiss franc exchange rate, USDCHF, saw a +0.43 percent increase, ending at 0.8821, which translated to a loss of +0.0037 points.

Meanwhile, the Australian dollar to US dollar exchange rate, AUDUSD, reported a modest +0.03 percent rise, wrapping up at 0.6404, marking an increase of +0.00018 points.

The New Zealand dollar settled at 0.5927 towards the close Friday, experiencing a +0.05 percent increase in its value.

Currency traders and investors remained engaged throughout the trading day, reacting to economic reports and global developments that influenced exchange rates. The mixed movement in exchange rates highlighted the complex interplay of factors affecting currencies on the global stage.

As the trading week comes to an end, market participants will continue to monitor economic indicators, central bank decisions, and geopolitical events that could shape currency trends in the upcoming week.

Global Stock Markets Close Mostly Lower Friday as Investors Assess Market Volatility

World stock markets wrapped up the week on Friday with a variety of movements across different indices, as investors grappled with a mixture of economic data and geopolitical developments. While some indices edged higher, the majority of bourses experienced notable declines.

CANADA

In Canada, the S&P/TSX Composite index posted a modest +0.03 percent increase, ending at 19,818.39 with a gain of +6.16 points.

UNITED KINGDOM

The FTSE 100 in London concluded at 7,262.43, marking a -0.65% change from the previous day’s close, reflecting a -47.78 point drop.

EUROPE

Across Europe, the ESTX 50 PR.EUR ended at 4,212.95 with a -0.35% decrease, equivalent to a -14.88 point drop. Similarly, the Euronext 100 Index closed at 1,328.59 after a -0.43% downturn, shedding -5.80 points.

Similarly, the DAX PERFORMANCE-INDEX in Frankfurt witnessed a parallel -0.65% drop, settling at 15,574.26, a decrease of -102.64 points.

The CAC 40 in Paris followed a similar trend Friday, ending at 7,164.11 after a -0.38% change, which translated to a -27.63 point decrease.

In Belgium, the BEL 20 faced a -1.01% decrease, ending at 3,579.03 after a -36.53 point drop.

RUSSIA

The MOEX Russia Index in Moscow exhibited a more modest decline of -0.19%, finishing at 2,222.51, experiencing a -4.14 point decrease. The STI Index in Singapore followed a -0.71% trend, concluding at 3,173.93 with a -22.82 point decrease.

ASIA

Meanwhile in Asia, the Nikkei 225 in Tokyo faced a decline of -0.55%, closing at 31,450.76, experiencing a -175.24 point setback.

The HANG SENG INDEX in Hong Kong felt a more significant impact with a -2.05% downturn Friday, wrapping up at 17,950.85 after a -375.78 point plunge.

In mainland China, the SSE Composite Index recorded a -1.00% decrease, settling at 3,131.95 and shedding -31.79 points. Similarly, the Shenzhen Index closed at 10,458.51 after a decline of -1.75%, equivalent to a -186.01 point drop.

In South Korea, the KOSPI Composite Index closed at 2,504.50 after a -0.61% decrease, shedding -15.35 points.

The TSEC weighted index in Taiwan faced a -0.82% decline, finishing at 16,381.31, marking a -135.35 point decrease.

OCEANIA

Moving to Australia, the S&P/ASX 200 reported a modest +0.03% increase, ending at 7,148.10, with a +2.10 point upturn.

In New Zealand on Friday, the S&P/NZX 50 INDEX GROSS recorded a -0.35% decrease, wrapping up at 11,611.19, after shedding -40.39 points.

MIDDLE EAST

In Israel, the TA-125 index concluded at 1,849.55 after a -0.79% decrease, which translated to a -14.68 point drop. In Egypt, the EGX 30 Price Return Index saw a -0.52% downturn, ending at 17,969.30 with a -93.20 point decrease.

Lastly, the NIFTY 50 in India concluded at 19,310.15, marking a -0.28% decrease of -55.10 points.

AFRICA

In South Africa, the Top 40 USD Net TRI Index experienced a more noticeable decline of -1.40%, concluding at 3,833.13, which marked a -54.27 point decrease.

Investors remained cautious throughout the trading day Friday, analyzing various market indicators and external factors that influenced the global markets.

(Photo credit: Big News Network news agency).