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US stock markets fall for a fourth straight day

Picture of Drew Meredith, CFP
Drew Meredith, CFP
Picture of Drew Meredith, CFP

Drew Meredith, CFP

Drew Meredith is one of the founders of Wattle Partners. He is an experienced financial and investment adviser with expertise in self-managed superannuation funds, superannuation strategies, investment analysis and portfolio construction. Drew is a Partner at Wattle Partners.
More analysis

US stock markets closed lower for the fourth straight day, led down by big tech as Netflix (NASDAQ: NFLX), Amazon (NASDAQ: AMZN) and Microsoft (NASDAQ: MSFT) all fell by more than 1%.

In an about face from Australia, both staples and healthcare sectors also weakened despite the S&P 500 sitting on gains early in the session.

The focus remains on the stuttering global economy and day-to-day flip flop in data.

On Thursday it was a strong jobless claims report, with just 2.78 million on continuing claims, down from 2.8 million, another low since 2020 began.

ECB cuts purchases

Europe looks to be joining the tapering party with the ECB confirming they would be tapering EUR$80 billion in monthly bond purchases sooner rather than later, but offering little in the way of specifics; the UK market falling over 1%.

China remains in the spotlight

Attention remains focused on China, after the government was said to have put additional pressure on Tencent (HKG: 0700) and NetEase (NASDAQ: NTES) to reduce their focus on profiting from gaming following a crackdown on the use of popular apps by young children.

US stock market movers

These US stocks were some of the biggest movers overnight.

Despite the negative lead from US stock markets, the S&P/ASX 200 (ASX: XJO) is set to open higher on Friday. For all the latest, check out Rask Media’s ASX 200 morning report.

The Golden Rules of Investing

We might be experts in retirement, but with combined financial advice experience of 35+ years, we’ve nearly seen it all. 

In mid-2023, our senior team at Wattle Partners Financial Planning put the finishing touches on a brand-new report “The Golden Rules of Investing“.

In this free report, we outline the key principles that determine all of the portfolio construction and investment decisions of Wattle Partners. Collated over decades, this paper should be seen as a work-in-progress, constantly under review in light of the ever-evolving nature of markets. 

You’ll find the free report on my Author page. Simply click the button below to view the Golden Rules.

Get the golden rules

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At the time of publishing, the author of this article does not have a financial or commercial interest in any of the companies mentioned.

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Wattle Partners is a financial advice firm, servicing clients around Australia, specialising in retirement planning (pre and post retirement). 

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