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On Wednesday, Asian stocks went down from eight-month peaks because the International Monetary Fund lowered its global surge outlook and America and the EU locked horns over levies in another escalation of trade tensions.
Eventually, European stocks were poised to start lower, with the UK’s FTSE futures slumping by 0.1% and Germany's DAX stocks diving by 0.02%.
MSCI's index of Asia-Pacific stocks headed south by 0.1%, just a day after it reached its highest value since August 1.
As for the Shanghai Composite Index, it inched down by 0.4%, while Japan’s Nikkei declined by 0.7%.
Meanwhile, on Wall Street, the S&P 500 went down by 0.61%, while the Nasdaq Composite decreased by 0.56% on Tuesday.
Overnight, American data contributed to the cautious mood, with job openings slumping to an 11-month minimum in February and driving doubts as for the strength of the American labor market that has been one of the few bright spots in the US economy.
Meanwhile, American leader threatened to slap duties on $11 billion worth of EU products, thus powering tensions over a long-running transatlantic aircraft subsidy conflict.
Global debt yields generally stood still, with the 10-year American Treasury yield being worth 2.49%, which is off its 15-month minimum of 2.340% recorded late last month.
Key currencies were little affected with an immediate focus on the EU leaders' summit as well as the ECB’s policy gathering.
EU leaders will most probably grant UK Prime Minister Theresa May another delay to Brexit, although they could demand Theresa accepts a much longer extension due to the fact that France pushed for conditions to restrict the UK’s ability to undermine the EU.
The UK pound was nearly intact, sticking with $1.3059.
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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