Business news

    Dow Jones falls 1.7%, ASX set for steep losses at the open

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    Highlights
    • Dow Jones closes down 559.85 points (-1.75%).
    • ASX futures are trading lower with ASX set to fall 113 points (-1.7%).
    • Bitcoin is trading at US$48,000.

    The Dow Jones fell 1.75% to finish the trading day down 560 points to close at 31,402 points as technology stocks were sold heavily during Thursday trade.

    Earlier, markets in Europe had a weaker session as London's FTSE fell and Germany's DAX was lower.

    Asian markets are set to open lower with ASX futures pointing down 113 points (-1.7%) ahead of the open in Sydney.

    The Australian dollar is stronger against the major currencies and is buying 78.8 US cents.

    Gold is trading at US$1,807 per ounce with copper down 2.64% to US$4.301/pound.

    WTI Crude oil is selling for US$63.22 per barrel while Brent oil is higher at US$62.24/barrel.

    The spot iron ore price remains above US$150 per ton trading at US$164.53 and one bitcoin is worth US$47,902 going into the Asian trading day.

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