A demonstrator wears a mask during the anti-Brexit ‘People’s March for Europe’, as it heads towards Parliament Square, in central London, Britain September 9, 2017.REUTERS/Tolga Akmen
- Global market sell-off resumed in the USA on Thursday, with US stocks entering a technical correction.
- That sell-off moved to Asia overnight, with China’s benchmark Shanghai Composite falling 4%.
- Thus far, the wave of selling has not reached Europe, with continental bourses only around 0.5% lower in early Friday trading.
LONDON — European equities are avoiding the renewed global market sell-off early on Friday morning, with major indexes on the continent nursing only minor losses in the first few minutes of trade.
By around 8.05 a.m. GMT (3.05 a.m. ET), losses are limited to a maximum of around 0.6%, the broad Euro Stoxx 5o index even trading in positive territory, up around 0.1%.
After a mid-week pause, stocks in North America and Asia resumed their slide on overnight, with major US bourses tumbling as much as 4% to enter the territory of a technical correction.
The benchmark S&P 500 closed 10.4% below its record high on January 26. It’s the fourth correction for the index since the bull market began in March 2009, according to Bespoke Investment Group.
Stocksrallied on Wednesday, with the Dow closing up 567 points, or 2.3%. By Thursday, the index of large companies includingBoeingandApplereturned to the red for 2018.
Once again, North America’s slump shifted to Asia, with Chinese stocks in particular taking a pounding.
The benchmark Shanghai Composite Index closed the morning session down 4.1%, extending its losses from the recent highs to over 12.8%. The stock exchanged ended up closing the day down 4% at its lowest point since mid-2017.
Thus far, however, the wave of losses has not reached Europe, with major benchmarks only mildly lower.
Here’s the scoreboard:
Leave a Reply
Leave a Reply
This site uses Akismet to reduce spam. Learn how your comment data is processed.
