Japan suffered a double hit as the yen neared a one-year low of 150 against the dollar and the Nikkei 225 index fell for a third straight session.
The contract between Kaiser Permanente and the group's labor union expired on the evening of September 30, local time, but the two sides failed to reach a labor agreement. The union warned that if no agreement is reached, its members plan to go on strike from October 4 to 6, covering health care facilities in five states, including California and Washington. The Kaiser Permanente Union coalition has more than 75,000 members, and if a strike begins, it would be the largest health care strike in U.S. history.
Stock markets in Europe and the United States mostly fell Tesla fell nearly 3%
Local time on October 2, European stock markets fell across the board, as of 21:34 Beijing time, Britain's FTSE 100 index fell 0.61%, France's CAC40 index fell 0.47%, Germany's DAX index fell 0.37%, and Europe's STOXX50 index fell 0.55%.
The three major indexes of the US stock market all opened lower, as of 21:34 Beijing time, the Dow Jones Industrial average and the S&P 500 index fell 0.15% and 0.06% respectively, and the Nasdaq index rose 0.22%.
In terms of hot stocks, as of 21:35 Beijing time, Tesla fell nearly 3%, Nvidia rose nearly 2%, Apple rose nearly 1%, and Alibaba, Pinduoduo, Intel, Microsoft and other stocks rose slightly.
On the news, Tesla delivered 435,100 in the third quarter, and the market estimated 456,700. Tesla delivered 419,100 MODEL 3/Y vehicles in the third quarter, below market estimates of 439,400. Tesla produced 430,500 vehicles in the third quarter, below market estimates of 462,000. Tesla said the quarter-on-quarter decline was caused by a planned shutdown of plant upgrades and that its 2023 sales target of about 1.8 million vehicles remained unchanged.
Michael Hartnett, a prominent U.S. equity strategist, pointed out in his research report that investors have begun to put money back into stocks after experiencing the biggest outflows this year, while they have also pulled money out of bonds, resulting in the biggest weekly outflows since March.
Japanese stocks hit double kill
On October 2, Japan suffered a "stock exchange" double kill.
First, the yen fell slightly, approaching 150 to the dollar after trading as low as Y149.82, a one-year low.
The yield on 10-year Japanese government bonds briefly rose to 0.775 per cent, the highest since 2013. Later, the 10-year JGB yield eased slightly to close down from the previous session.
Source: Yingweicheng
The Nikkei 225 index fell 0.31% to 31,759.88, its third straight day of losses.
On October 2, the Bank of Japan said it would conduct additional bond purchases of 5-10 year government bonds on October 4. Naoya Hasekawa, senior bond strategist at Okasan Securities Co., expects the purchases to be 675 billion yen ($4.5 billion), the same as the last regular operation for that period.
Market participants believe the BOJ will end negative interest rates sooner or later and that global yields will come under upward pressure as the Fed will keep borrowing costs higher for longer.
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