Wall Street tries to shrug off crude slide after Doha meeting
On Monday, Wall Street stocks dipped after the disappointing gathering in Doha, which powered a 3% sag in crude prices.
Dow Jones Industrial Average futures reported a 100-point loss at 17,766, while the S&P 500 futures dipped lost 3 points, trading at 2,069.50. As for the Nasdaq-100 index, its futures traded at 4,532.50, demonstrating a 6.25-point sag.
Market participants have just seen perhaps the worst of the first reaction to the Doha failure, but some financial analysts don’t expect further descends in the nearer weeks.
Today, a great number of energy companies remain under pressure, and while it could apply pressure on American stock markets, we could see them recover anyway.
The Doha failure had a decent impact on global markets. For instance, in Asia, energy shares drove losses, with the Shanghai Composite Index lacking 1.4%. As for the Nikkei 225, it edged down 3.4%, because investors rushed to the Japanese yen as a true safe haven.
The Stoxx Europe 600 index dipped 0.3% in the European Union.