Connect with us

International

Shares slide as fears of global growth grow

Published

on

 


SOCIETY PHOTO – An investor sits in front of a board displaying stock information at a brokerage office in Beijing, China, December 7, 2018. REUTERS / Thomas Peter

Sign up now for FREE unlimited access to Reuters.com

BEIJING / HONG KONG, May 19 (Reuters) – Asian stocks fell on Thursday, following a sharp drop in Wall Street sales, as investors worried about global inflation, China’s zero policy on COVID-19 and the war in Ukraine, while the safe dollar eased.

European stock markets also looked set for another tough day. Euro Stoxx 50 pan-regional futures futures fell 0.52%, German DAX futures fell 0.63% while FTSE futures were 0.51% lower.

Nasdaq futures eased 0.15%, although S & P500 futures reversed previous losses to be 0.05% higher.

Sign up now for FREE unlimited access to Reuters.com

Overnight on Wall Street, retail giant Target Corp (TGT.N) warned of a bigger margin blow due to rising costs after reporting that its quarterly profit had halved. Its shares fell 24.88%. The Nasdaq fell almost 5% while the S&P 500 lost 4%.

“Tuesday’s jump proved to be ‘very optimistic’, so the self-doubt stemming from the misjudgment just makes traders click the sell button even more,” said Hebe Chen, market analyst at IG.

The broader MSCI Asia-Pacific Index of shares outside Japan (.MIAPJ0000PUS) slashed four-day gains and fell 1.8%, dragging on a 1.5% loss for Australia’s heavy resource index (.AXJO), a decline of 2.1% on Hong Kong shares (.HSI) and a 0.3% pullback on mainland China bluechips (.CSI300).

Japan’s Nikkei (.N225) fell 1.7%.

The tech giants listed in Hong Kong (.HSTECH) were hit particularly hard, with the index falling more than 3%. Tencent (0700.HK) sank by more than 6% as it did not report revenue growth in the first quarter, its worst performance since going public in 2004. read more

China’s technology sector is still recovering from a year-long government crackdown and a slowdown in economic prospects stemming from Beijing’s strict zero-COVID policy, although reassuring remarks by Vice Premier Liu He to tech executives had stirred sentiment Wednesday. . Read more

Two US central bankers say they expect the Federal Reserve to shrink to a more moderate pace of policy tightening after July, as it seeks to calm inflation without raising borrowing costs so high as to lead the economy into recession. Read more

“It must be said that the concern about inflation has never disappeared since we entered 2022. However, while things have not reached the point of no return, they are apparently going in the direction of ‘out of control’. This means. “probably the most troubling part of the market,” said Chen of IG.

The US dollar, which had risen in risk appetite, eased 0.15% against a basket of major currencies after a 0.55% overnight jump that ended a three-day losing streak.

The Aussie gained 0.8% while the New Zealand kiwi rose 0.6% after a relief in the Shanghai blockade for COVID helped the sentiment.

Wednesday data showed British inflation rose to its highest annual rate since 1982 as energy bills rose, while Canadian inflation rose to 6.8% last month, driven mainly by rising prices. of food and shelter.

Bilal Hafeez, CEO of London-based research firm MacroHive, said there was a strong bias towards safe-haven assets at the moment, especially cash.

“There may be short-term gains in stocks like in recent days, but the big picture is that the era of low yields is over and we are moving to an environment with higher rates,” Hafeez told the Global Markets Forum. Reuters.

“This will put pressure on all markets that benefited from low yields – especially stocks.”

U.S. Treasuries accumulated overnight and were mostly stable in Asia, leaving the yield on standard 10-year Treasury records at 2.9076%.

The two-year yield, which rises with traders’ expectations for higher Fed fund rates, reached 2.6800% compared to a US close of 2.667%.

Oil prices recovered from early losses as persistent fears of tight global supplies outweighed fears of slower economic growth.

Brent crude rose 1.2% to $ 110.41 a barrel, while US crude rose 0.8% to $ 110.48 a barrel.

Gold was slightly lower. The gold spot traded at $ 1814.88 an ounce.

Sign up now for FREE unlimited access to Reuters.com

Additional reporting by Divya Chowdhury; Editing by Sam Holmes, Kenneth Maxwell and Kim Coghill

Our standards: Principles of Thomson Reuters Trust.

Sources

1/ https://Google.com/

2/ https://www.reuters.com/markets/europe/global-markets-wrapup-1-2022-05-19/

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

ExBUlletin

to request, modification Contact us at Here or [email protected]