Markets retreat as traders take profits, eye commodities' spikePeople stand in front of an electronic display showing the Hang Seng Index in the Central district of Hong Kong on July 26, 2021, after stocks plunged as tuition firms were hammered by China's decision to reform the private education sector by preventing them from making profits. HONGKONG , China — Markets in Asia and Europe suffered a downturn Tuesday after racking up a series of gains as profit-takers stepped in, while traders were also spooked by a surge in commodity prices. Chinese property firms, which soared Friday on the support news, sank in Hong Kong. "For the market to keep momentum this week, it may come down to just one stock -- Nvidia," Freedom Capital Markets' Jay Woods said. "It sure feels like the hype for this earnings event will be the talk of trading desks and financial media all week."

Source: Philippine Star May 21, 2024 18:58 UTC