HONG KONG — Asian stocks fell Wednesday with most of the markets in the region closed for a holiday. Meanwhile, U.S. stocks closed out their worst month since September.Tokyo’s Nikkei 225 index lost 0.4%, down to 38,271.77 after the country’s factory activity experienced a milder shrink in April, as the manufacturing purchasing managers’ index from au Jibun Bank rose to 49.6 in April from 48.2 in March. A PMI reading under 50 represents a contraction, and a reading of 50 indicates no change.
The Dow Jones Industrial Average dropped 1.5% to 37,815.92, and the Nasdaq composite lost 2% to 15,657.82.in wages and benefits than expected during the first three months of the year. While that’s good news for workers and the latest signal of a solid job market, it feeds into worries that upward pressure remains on inflation.. That’s caused traders to largely give up on hopes that the Federal Reserve will deliver multiple cuts to interest rates this year.
GE Healthcare Technologies tumbled 14.3% after it reported weaker results and revenue for the latest quarter than analysts expected. F5 dropped 9.2% despite reporting a better profit than expected. The earnings reporting season has largely been better than expected so far. Not only have the tech companies that dominate Wall Street done well, so have companies across a range of industries.Benchmark U.S. crude fell 75 cents to $81.18 a barrel. Brent crude, the international standard, lost 65 cents to $85.68 a barrel.3 Reasons to Buy Enbridge Stock Like There’s No Tomorrow
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