Equity benchmark indices drag, Wall Street down

Equity benchmark indices drag, Wall Street down

John Canavan, lead analyst at Oxford Economics, said on Friday that there was still a lot of volatility and that's going to be with us for a while.

After the extreme moves we've seen over the past week, I think it's sort of an exhausted market looking for a place to settle in. The Nasdaq Composite, which was the brunt of selling a day earlier, made the most gains on Friday. The tech-laden index was up 152.25 points or 1.25 percent to 10,798, up 152.25 points or 1.25 percent. The Dow Jones industrials, going against the trend, fell 38.29 points or 0.13 percent to 29,888. The Standard and Poor's 500 added 7.98 points or 0.22 percent to 3,674. The U.S. dollar resumed its rally on Friday despite hefty losses from the day before. The euro fell to 1.0495 by New York on Friday. The British pound dropped to 1.2215. The Japanese yen fell to 134.99. The Swiss franc slid to 0.9700.

The Canadian dollar fell sharply to 1.3025. The Australian dollar dropped to 0.6934. The German Dax was up 0.67 percent overseas. The Paris, France-based CAC 40 fell 0.06 percent. The FTSE 100 was down 0.41 percent in London.

In Japan, the Nikkei 225 plunged 468.20 points or 1.77 percent to 25,963. The Australian All Ordinaries fell by 120.40 points or 1.77 percent to 6,663. In New Zealand, the S&P NZX 50 declined by 57.39 points or 0.54 percent to 10,589. South Korea's Kospi Composite went 1.048 points or 0.43 percent to 2,440. In Hong Kong, the Hang Seng, going against the trend, rose 229.57 points or 1.10 percent to 21,675.