11/28/2022, 10:21 AM (Source: TeleTrader)
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Wall Street falls premarket amid global selloff

Major stock exchanges on Wall Street were heading for sharp losses on Monday after the selloff in the Asia-Pacific and European markets, with the negative sentiment prompted by mass anti-lockdown protests in the world's second-biggest economy, China. The unrest across China drove the prices of crude oil to plunge to the lowest level since late 2021.

The week's trading will be influenced by the release of key economic data, with all eyes on nonfarm payroll employment data which is scheduled to be published on Friday, set to provide insight into the labor market ahead of the Federal Reserve's December meeting.

The Dow Jones Industrial Average slumped by 0.40% or 130 points at 4:19 am ET. The Nasdaq 100 and the S&P 500 were down by 0.65% and 0.56% respectively. The euro rose 0.45% against the American currency, selling at $1.04563 a minute later.

Baha Breaking News (BBN) / AB