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Dow Tumbles 200 Points; ZIM Integrated Shipping Services Posts Upbeat Earnings

Benzinga
May 19

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 200 points on Monday.

Following the market opening Monday, the Dow traded down 0.48% to 42,450.71 while the NASDAQ fell 0.88% to 19,041.91. The S&P 500 also fell, dropping, 0.79% to 5,911.48.

Check This Out: Top 3 Tech And Telecom Stocks That May Rocket Higher This Month

Leading and Lagging SectorsHealth care shares slipped by just 0.2% on Monday.

In trading on Monday, energy stocks dipped by 2.2%.

Top Headline

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) reported better-than-expected earnings for the first quarter.

The company posted quarterly earnings of $2.45 per share which beat the analyst consensus estimate of $1.87 per share. The company reported quarterly sales of $2.01 billion which beat the analyst consensus estimate of $1.85 billion.

Equities Trading UP                       

  • DigiAsia Corp. (NASDAQ:FAAS) shares shot up 209% to $0.5739 after the company announced the launch of Bitcoin treasury reserve strategy. The company said it is exploring up to $100 million capital raise to acquire Bitcoin.
  • Shares of Protagenic Therapeutics, Inc. (NASDAQ:PTIX) got a boost, surging 164% to $8.00 after the company entered a business combination with Phytanix
  • Healthcare Triangle, Inc. (NASDAQ:HCTI) shares were also up, gaining 79% to $0.0141.

Equities Trading DOWN

  • Damon Inc. (NASDAQ:DMN) shares dropped 62% to $0.0029.
  • Shares of Affimed N.V. (NASDAQ:AFMD) were down 34% to $0.1833 after jumping 228% on Friday.
  • Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) was down, falling 35% to $0.1869.

CommoditiesIn commodity news, oil traded down 0.5% to $62.20 while gold traded up 1.4% at $3,233.10.

Silver traded up 0.3% to $32.465 on Monday, while copper rose 1.1% to $4.6460.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.4%, while Spain's IBEX 35 Index fell 0.1%. London's FTSE 100 fell 0.5%, Germany's DAX 40 slipped 0.1% and France's CAC 40 slipped 0.7% during the session.

Asia Pacific Markets

Asian markets closed mostly lower on Monday, with Japan's Nikkei falling 0.68%, Hong Kong's Hang Seng Index declining 0.05%, China's Shanghai Composite Index falling 0.004% and India's BSE Sensex declining 0.33%.

Economics

The CB Leading Index will be released today.

Now Read This:

  • 5 Stock Picks Last Week From Wall Street’s Most Accurate Analysts

Photo via Shutterstock

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