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Asia Today ISSN 1861-4604 Wednesday, October 17, 2018

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Most stock markets in Europe, Asia fall sharply after U.S. rout

Only mainland Chinese shares showed signs of life

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HONG KONG — Asian and European shares fell Monday, extending global stock losses after Wall Street’s big sell off on deepening investor anxiety over rising bond yields and disappointing quarterly earnings, reports AP

KEEPING SCORE: European stock indexes fell in early trading. Britain’s FTSE 100 lost 1.2 per cent to 7,354.38 and France’s CAC 40 slid 1.0 per cent to 5,310.59. Germany’s DAX shed 0.8 per cent to 12,677.69. Wall Street was poised to open lower. Dow futures were down 0.5 per cent to 25,302.00 and broader S&P 500 futures retreated 0.3 per cent to 2,749.00.

NY stocks opened sharply lower on Monday as rising bond yields continued to fuel the selloff in equities and hints of inflation pickup triggered concerns that the Federal Reserve might have to raise interest rates more quickly.

The Dow Jones Industrial Average fell 282.86 points, or 1.11 percent, to 25,238.1. The S&P 500 lost 26.05 points, or 0.94 percent, to 2,736.08. The Nasdaq Composite dropped 74.99 points, or 1.04 percent, to 7,165.96. 

Wall Street's three major indexes logged their biggest weekly losses in two years on Friday. The S&P 500 and the Dow saw their worst weeks since early January 2016 while the Nasdaq recorded its worst week since early Feb 2016.

ASIA’S DAY: Japan’s benchmark Nikkei 225 tumbled 2.6 per cent to 22,682.08 and South Korea’s Kospi shed 1.3 per cent to 2,491.75. Hong Kong’s Hang Seng index sank 1.1 per cent to 32,245.22 and Australia’s S&P/ASX 200 lost 1.6 per cent to 6,026.20. Benchmarks in Taiwan and Southeast Asia also lost ground. Only mainland Chinese shares showed signs of life, with the Shanghai Composite reversing early losses to climb 0.7 per cent to 3,487.50.

 

 

 

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