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On Wednesday, Asian equities stood still due to the fact that worries over the outlook for global economic surge as well as the everlasting China-US trade clash kept market participants away from risky assets.
Spreadbetters actually expected EU equities to start lower, with Germany’s DAX diving by 0.2%, France’s CAC 40 decreasing by 0,4%, and Britain’s FTSE tumbling by 0,3%.
Additionally, MSCI's index of Asia-Pacific equities decreased by 0.15%, treading water after soaring to a seven-week maximum on Monday.
As for the Shanghai Composite Index, it decreased by 0.15%.
Meanwhile, Australian equities went down by 0.25%, while Japan's Nikkei slipped by nearly 0.1%.
In addition to this, on Tuesday, the Nasdaq, the Dow, and the S&P 500 all reported their greatest one-day percentage tumbles since January 3.
Following an abrupt dive in December, American equities managed to gain through much of January, backed by hopes for a progress in US-China trade talks as well as a more dovish-sounding US major bank. It also helped global traders to opt for riskier assets.
Another factor affecting market sentiment was a report by the Financial Times that the current US presidential administration had neglected an offer from China for preparatory trade negotiations this week ahead of high-level talks expected to take place next week.
Larry Kudlow, White House economic adviser denied the report, thus assisting American equities in paring some losses, although the fresh worries about China-US relations kept stock prices in check.
Besides this, recently published data all indicated a tough year ahead for the global economy.
In December, American home sales went down by 6.4%, falling short of the most pessimistic estimate, to their lowest outcome for three years. In contrast with 2017, they tumbled over 10% for the first time since 2011.
On Wednesday, American stock index futures headed south because dismal data out of China affected market sentiment, while traders waited for more developments related to the US-China trade conflict…
On Wednesday, Italian stocks led losses in the European Union right after the country's deputy prime minister told that Rome considers breaking EU fiscal rules, thus masking early revenue powered by optimism around the US-China trade conflict…
On Tuesday, another US-China tariff conflict escalation put pressure on Asian stocks, although remarks from American leader that he expects trade talks to be successful backed market sentiment…
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…
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