The financial stocks dragged Wall Street stock markets to their worst day in five months on concerns about difficulties in approving the US economic stimulus plans by US President Donald Trump.
The S&P 500 plunged by 1.2%, the sharpest daily drop in five months.
The Dow Jones Industrial Average fell by 1.1%, the sharpest daily decline since September 13.
The NASDAQ index closed down by 1.8%, the sharpest daily drop since September 9.
The trading on Asian stock exchanges is led by sharp price declines at the background of yesterday’s falls on Wall Street.
Forex market, the US dollar weakened by 0.2% against the Japanese yen and traded around 111.51 yen per dollar.
After a few weeks of relative stability in the yen, the Japanese currency strengthened within a week by more than 2%, which may concern exporters in the country who welcome the weak currency.
The strengthening of the yen also leads to a drop in shares of large exporters from Japan.
Trading Opportunity
EUR/CAD
On an hour chart, there is a bearish divergence at the histogram of the ,MACD indicator.
The pair cross down below the 13 Moving Average, and it a sign of a possibility of a coming decline.
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