Global Factors influencing ASX stocks on 21 October 2022

On 21 October 2022, at AEDT 12:38 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 46.80 points or 0.70%, and is currently trading at 6,683.90 levels. Out of 11 sectors, 8 sectors are trading lower along with the S&P/ASX 200. The Financial and Utilities sectors are the top 2 losing sectors, declining 1.59% and 1.34% in their index values.

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

1. Key U.S. indices ended lower in their previous session. NASDAQ Composite, NASDAQ-100, Dow industrial, and S&P 500 declined by 0.61%, 0.51%, 0.30% and 0.80%, respectively.
2. Liz Truss resigned on Thursday after the shortest, most chaotic tenure of any British prime minister, forced out after her economic program shattered the country's reputation for financial stability and left many people poorer.
3. Gold prices fell today and were set to end the week lower as a rise in U.S. Treasury yields rattled markets. 
4. As the world's third-largest economy continued to struggle with increased raw material prices and a deep depreciation in the yen, Japan's core CPI inflation hit an eight-year high in September.
5. Oil prices are slightly lower as market participants weighed concerns about steep inflation with optimism that China could see energy demand tick up.
6. Hang Seng is down by 1.40%, and FTSE 100 is up by 0.27%.

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