In regular trading on Tuesday, the Dow fell 1.02%, the S&P 500 dropped 1.16% and the Nasdaq Composite lost 1.14%, with all 11 S&P sectors finishing lower. Shares of major banks tumbled after Fitch warned it may be forced to downgrade the credit ratings of dozens of banks. Data showed that US retail sales rose 0.7% in July, exceeding forecasts of 0.4% and supporting the case for the Federal Reserve to keep interest rates higher for longer.
The market closed lower at 1,234 (-0.23%) with most stocks traded in a narrow range. Market liquidity dropped compared to the previous session and was lower than the 20-day average. Foreign investors continued to sell with the value of more than VND 540 billion. VIC stock suddenly reversed after a series of gaining days, putting pressure on the market.
- World market: The stock market fell slightly on less positive macro information from China
- Vietnam market: Domestic market declines slightly, risks increase
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