Jun 13, 07:04 AM

S&P 500 Down 1.2%, Dow Jones Falls 1.9%, Sensex Drops 1,337 Points, Nifty Below 24,900 Amid Global Market Declines

Global equity markets experienced widespread declines amid escalating geopolitical tensions and weak global trends. In the United States, the S&P 500 closed down 1.2% at 5,972.16, the Nasdaq Composite fell 1.4% to 19,382.90, and the Dow Jones Industrial Average dropped 1.9% to 42,152.31, closing below its 200-day moving average. All eleven S&P 500 sectors ended in negative territory, with financials and industrials leading the declines by over 2%, while energy stocks showed relative resilience, falling just 0.3%. In Asia, Chinese markets saw mixed activity; the Shanghai Composite and Shenzhen Component indexes initially declined but later turned positive before closing lower with losses of 0.75% and 1.1% respectively. The Hang Seng Index and Hang Seng Tech Index in Hong Kong fell over 1% and 2%, with major companies like BYD, Xiaomi, Alibaba, and Kuaishou experiencing declines ranging from over 2.5% to more than 6%. Indian markets were notably volatile, with the BSE Sensex tumbling as much as 1,337 points to an intraday low of 80,354.59 before recovering to close down 573.38 points at 81,118.60. The NSE Nifty 50 index dropped below 24,900, closing at 24,718.60, down 169.60 points. Broader market indices, including midcap and smallcap stocks, also saw widespread selling pressure. The market downturn reflects investor concerns over geopolitical developments and their impact on global economic growth.