Global Factors influencing ASX stocks on 16 December 2022

On 16 December 2022, at AEDT 12:32 PM, the benchmark index S&P/ASX 200 is trading lower today, decline 37.10 points or 0.51%, and is currently trading at 7,167.70 levels. Out of 11 sectors, 10 sectors are trading lower along with the S&P/ASX 200. The Information Technology and Utilities are the top 2 declining sectors, lower 1.66% and 1.59% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Lower By 0.63%; Amid Global Sell-Off

On that note, let us look at a few global reasons impacting the stock market today:

1. The key U.S. indices ended lower in their previous session. NASDAQ Composite ended lower by 3.23%, NASDAQ-100 lower by 3.37%, Dow industrial ended lower by 2.25%, and S&P 500 ended lower by 2.49%, respectively.
2. Oil demand in China is expected to increase amid the world's largest crude oil importer loosening Covid 19 restrictions.
3.  US. Retail sales fell more than projected in November instead of the number of Americans filing for unemployment benefits decreased.
4. The US. Dollar gained sharply amid The Federal Reserve and the European Central Bank raised interest rates for the fourth time in a row.
5. Japan’s manufacturing activity has declined at a faster rate in more than two years amid inflation and a decrease in demand.
6. European Union leaders agreed to provide 18 billion euros to help Ukraine and prepared to cap the Russian natural gas price.
7. Hang Seng is down by 1.55%, and FTSE 100 is down by 0.93%.

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