Dow Tumbles Over 600 Points; Korn Ferry Posts Upbeat Earnings

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 1% on Monday.

Following the market opening Monday, the Dow traded down 1.30% to 46,883.33 while the NASDAQ fell 1.02% to 22,159.20. The S&P 500 also fell, dropping, 1.14% to 6,663.14.

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Leading and Lagging Sectors

Energy shares rose by 0.1% on Monday.

In trading on Monday, consumer discretionary stocks dipped by 2 %.

Top Headline

Korn Ferry (NYSE:KFY) reported upbeat earnings for its third quarter.

The company posted quarterly earnings of $1.28 per share which beat the analyst consensus estimate of $1.24 per share. The company reported quarterly sales of $725.042 million which beat the analyst consensus estimate of $695.118 million.

Equities Trading UP
           

• Autozi Internet Technology (Global) Ltd (NASDAQ:AZI) shares shot up 135% to $0.62. AZI disclosed that the company’s controlling shareholder has fulfilled its previous commitment by injecting $7 million, with all funds now fully received.
• Shares of Xenon Pharmaceuticals Inc (NASDAQ:XENE) got a boost, surging 42% to $59.63 following the announcement of positive topline results from the Phase 3 X-TOLE2 study of azetukalner in focal onset seizures.
• EON Resources Inc (NYSE:EONR) shares were also up, gaining 40% to $0.93.

Equities Trading DOWN

• Olema Pharmaceuticals Inc (NASDAQ:OLMA) shares dropped 31% to $14.87.
• Shares of Powell Max Ltd (NASDAQ:PMAX) were down 33% to $0.82 after the company issued a corporate update.
• Innovation Beverage Group Ltd (NASDAQ:IBG) was down, falling 28% to $3.96.

Commodities

In commodity news, oil traded up 7.7% to $97.86 while gold traded down 0.8% at $5,119.00.

Silver traded up 1% to $85.165 on Monday, while copper fell 0.4% to $5.7835.

Euro zone

European shares were lower today. The eurozone's STOXX 600 declined 1.2%, while Spain's IBEX 35 Index fell 1.2%. London's FTSE 100 fell 0.8%, Germany's DAX dipped 1.1% and France's CAC 40 fell 1.6% during the session.

Asia Pacific Markets

Asian markets closed lower on Monday, with Japan's Nikkei 225 dipping 5.20%, Hong Kong's Hang Seng index declining 1.35%, China's Shanghai Composite falling 0.67% and India's BSE Sensex dipping 1.71%.

Economics

Data on consumer inflation expectations will be released today.

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