Global equity markets tanking

  • By ELAINE KURTENBACH, AP BUSINESS WRITER

TOKYO — Nov 15, 2017, 4:04 AM ET

Shares fell in early European trading Wednesday after a bleak day in Asia, as sinking crude oil prices weighed on oil producers and other energy stocks. Investors are awaiting U.S. inflation data and watching developments on U.S. tax reform legislation.

KEEPING SCORE: Germany’s DAX dropped 0.8 percent to 12,933.77 and the CAC 40 of France lost 0.4 percent to 5,296.46. Britain’s FTSE 100 gave up 0.5 percent to 7,380.03. Wall Street looked set for further losses with S&P 500 futures down 0.4 percent and Dow futures also off 0.4 percent.

ASIA’S DAY: Tokyo’s Nikkei 225 index tumbled 1.6 percent to 22,028.32, as manufacturers’ shares were stung by a stronger yen. Hong Kong’s Hang Seng lost 1.0 percent to 28,851.69 and the Shanghai Composite index lost 0.8 percent to 3,402.52. Australia’s S&P ASX 200 fell 0.6 percent to 5,934.20 and the Kospi of South Korea declined 0.3 percent to 2,518.25. India’s Sensex shed 0.6 percent to 32,730.81. Taiwan fell and shares in Southeast Asia were mostly lower.

ANALYST’S VIEWPOINT: “Heading into year-end the only risk that is certain, other than the December U.S. rate hike, is uncertainty itself making risk-taking little more than a fool’s errand,” Stephen Innes of OANDA said in a market commentary.

ABC News USA

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. His views appear in Bloomberg, CNBC.Reuters, New York Times WSJ and the Economist. His media appearances include Bloomberg TV & Radio, BBC International, Sky TV, Channel News Asia, ASTRO AWANI and BFM Malaysia. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

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