sunny.png
Saturday August 24th, 2019 10:21AM

Global stocks slip as investors digest US bank earnings

By The Associated Press
Related Articles
  Contact Editor

TOKYO (AP) — Global stock markets mostly fell on Wednesday as investors digested big losses at major U.S. banks, while bitcoin also dropped amid fears of greater regulation.

KEEPING SCORE: Britain's FTSE 100 slipped 0.2 percent to 7,740 and the CAC 40 of France was down almost 0.1 percent to 5,511. Germany's DAX lost 0.2 percent to 13,225. Wall Street looked set to regain momentum after losses the previous day. Dow futures were up 0.5 percent while S&P 500 futures were 0.4 percent higher.

BANKS: Goldman Sachs says it lost $1.93 billion in the fourth quarter, as the bank had to record more than $4 billion in charges related to the new U.S. tax law. Still, the figure was better than some analysts had feared. Bank of America said its fourth-quarter profits fell by nearly half from a year ago, as the bank had to book $2.9 billion in charges related to the tax law.

BITCOIN: The price of bitcoin extended its slump, triggered by comments by a South Korean financial policymaker who said that banning trading in digital currencies was an option. The price of one bitcoin fell 8 percent to $10,453 by early afternoon in Europe, according to the tracking site CoinDesk. The price of bitcoin soared last year after starting 2017 under $1,000, but has languished this year amid signs of increased scrutiny from governments. Many finance pros believe bitcoin is in a speculative bubble that could burst any time.

ASIA'S DAY: Japan's Nikkei 225 index lost 0.4 percent to 23,868.34 and the Kospi in South Korea shed 0.3 percent to 2,515.43. Australia's S&P/ASX 200 dropped 0.5 percent to 6,015.80. Hong Kong's Hang Seng rebounded from earlier losses to gain 0.3 percent, closing at 31,983.41 while the Shanghai Composite index added 0.2 percent to 3,444.67.44. India's Sensex added 0.8 percent to 35,035.49. Shares in Southeast Asia were mixed.

JAPAN MACHINERY: Orders for machinery were the highest in almost a decade in November, rising nearly 12 percent from a month earlier, the government reported Wednesday. The strong demand suggests companies are investing to expand production capacity that likely would support growth in coming months, analysts said.

ENERGY: Benchmark U.S. crude shed 19 cents to $63.54 per barrel in electronic trading on the New York Mercantile Exchange. It fell 57 cents on Tuesday. Brent crude, used to price international oils, lost 32 cents to $68.83.

CURRENCIES: The dollar rose to 110.77 yen from 110.49 yen on Tuesday. The euro weakened to $1.2207 from $1.2258.

  • Associated Categories: Associated Press (AP), AP Online Headlines - Washington, AP Online Congress News, AP Business, AP Business - Economy, AP Business - Financial Markets
© Copyright 2019 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
50 shows, 5 days: Fashion says "bonjour" to Paris menswear
The travelling fashion press bid "ciao" to Milan and said "bonjour" to Paris on Wednesday - kicking off 50 fashion shows, endless parties, million-dollar business deals and menswear mania that will sweep the French capital for five days
9:01AM ( 3 minutes ago )
Mueller team would hardly be first lawyers to question Trump
An AP review of statements made under oath by Trump gives clues about how he might handle questions from Mueller's team of investigators
9:01AM ( 3 minutes ago )
Century after pandemic, science takes its best shot at flu
Scientists hunting universal vaccine to protect against regular winter flu _ and the next super-flu, too
8:58AM ( 5 minutes ago )
Associated Press (AP)
House panel subpoenas Bannon in Russia probe showdown
A House committee has issued a subpoena to Steve Bannon after the former White House chief strategist refused to answer a broad array of queries from lawmakers about his time working for President Donald Trump
8:05AM ( 59 minutes ago )
Immigration deal distant as leaders try to avert shutdown
Disgruntled conservatives threatened late Tuesday to scuttle Republican leaders' plans to prevent a weekend government shutdown, saying GOP leaders now lacked the votes to push their proposal through the House
8:04AM ( 1 hour ago )
Goldman Sachs posts $1.9 billion 4Q loss due to new tax law
Goldman Sachs loses $1.93 billion in the fourth quarter, as bank takes $4 billion in charges related to the new tax law
7:54AM ( 1 hour ago )
AP Online Headlines - Washington
The Latest: Jailed Catalan politicians seek voting rights
Three jailed Catalan politicians are seeking permission from Catalonia's new regional parliament to allow them to vote through delegated colleagues so as to maintain a pro-independence bloc's slim majority in the chamber
5:26AM ( 3 hours ago )
Ex-Congressman Dennis Kucinich to launch bid for governor
Former U.S. Rep. Dennis Kucinich is preparing to make the Democratic primary for Ohio governor a five-way race
12:06AM ( 8 hours ago )
The Latest: Homeland secretary unclear on Trump vulgarity
President Donald Trump's Homeland Security secretary offers an inconclusive version of a meeting in which Trump is said to have used vulgar remarks
9:15PM ( 11 hours ago )
AP Online Congress News
Apple supplier denies charges of unsafe, unclean conditions
Apple supplier in eastern China denies labor group allegations that workers toil for ten-hour shifts in loud, unsafe, polluted conditions
8:15AM ( 48 minutes ago )
The Latest: France agrees not to build airport amid protests
France's prime minister says that the government has decided against building an airport in western France that has mobilized nearly a decade of sometimes violent protests and he told protesters occupying the site that they must leave
8:14AM ( 49 minutes ago )
European car sales at highest level in 10 years
Car sales in Europe rose for the fourth straight year in 2017, topping 15 million units for the first time in a decade
7:27AM ( 1 hour ago )
AP Business
Global shares track weakness on Wall St; China shares higher
Global shares track weakness on Wall Street; China shares higher
4:38AM ( 4 hours ago )
Survey finds geopolitical, cyber threats key concerns in '18
The World Economic Forum says a new survey found more than nine in 10 experts are expressing concerns about worsening economic or political confrontation between world powers in 2018
4:15AM ( 4 hours ago )
Asian shares track weakness on Wall St; China shares higher
Asian shares track weakness on Wall Street; China shares higher
2:08AM ( 6 hours ago )
AP Business - Economy
Bitcoin prices fall as South Korea says ban still an option
Bitcoin, other digital currencies tumble as South Korean official says ban on trading still an option
5:23PM ( 15 hours ago )
Dow Jones industrial average crosses 26,000 points
U.S. stocks are moving higher in morning trading, sending the Dow Jones industrial average past the 26,000-point mark for the first time
11:40AM ( 21 hours ago )
US stocks move higher in early trade; Dow crosses 26,000
U.S. stocks are moving broadly higher in early trading, sending the Dow Jones industrial average past the 26,000-point mark for the first time
10:25AM ( 22 hours ago )
AP Business - Financial Markets
South wakes up to snow, ice and record-breaking cold
The South awoke on Wednesday to a two-part Arctic mess. First came a thin blanket of snow and ice, and then came the below-zero wind chills and record-breaking low temperatures
8:43AM ( 20 minutes ago )
The Latest: French regional official slams airport decision
A French regional official has lashed out at the central government for its decision to abandon a highly contentious airport project in his area in western France, saying it has "trampled on democracy."
8:34AM ( 29 minutes ago )
Volkswagen sells record 10.74 million vehicles in 2017
German automaker Volkswagen recorded record sales of 10.74 million vehicles last year, boosting its bid to hold onto the title of world's largest automaker
8:33AM ( 31 minutes ago )
4 years on, ancient heart of Homs still abandoned ruins
4 years on and with no funds for rebuilding, ancient heart of Homs still abandoned ruins
8:32AM ( 31 minutes ago )
Catalan parliament reconvenes, elects pro-secession speaker
Catalonia's new parliament has elected a pro-secession speaker, thus virtually guaranteeing the chamber's push for independence for Spain's northeastern region as lawmakers prepare to elect a new government there
8:27AM ( 36 minutes ago )