sunny.png
Saturday July 24th, 2021 3:30PM

Global markets mixed after Wall Street slides

By The Associated Press
Related Articles
  Contact Editor

BEIJING (AP) — Global stock markets were mixed Monday after Wall Street turned in its biggest weekly decline in more than two months.

London and Frankfurt opened higher while Shanghai, Tokyo and Hong Kong slid. U.S. futures were lower.

Investors have been encouraged by hopes for a coronavirus vaccine and central bank infusions of cash into struggling economies. But forecasters warn the rise in prices might be outrunning uncertain economic activity as case numbers rise in the United States and some other countries. Some are re-imposing anti-disease controls that disrupt business.

“The question now is whether there will be a sustained unwinding in this forthy market, or if conviction about fresh central bank liquidity and fear of missing out kicks in once again,” said Mizuho Bank in a report.

One possible sign the decline might be temporary: demand for government bonds and other assets considered safe havens in an extended down market “has not come flooding back in," Mizuho Bank said.

In early trading, the FTSE 100 in London rose 1.3% to 5,874.89 and Frankfurt's DAX added 1.2% to 12,992.49. The CAC 40 in Paris was 1% higher at 5,016.76.

On Wall Street, futures for the benchmark S&P 500 index and the Dow Jones Industrial Average were 0.6% higher.

On Friday, the S&P 500 slid 0.8%. The Dow lost 0.6% and the tech-heavy Nasdaq dropped 1.3%.

In Asia, the Shanghai Composite Index lost 1.8% to 3,292.59 after Chinese customs data showed August export growth accelerated to 9.5% over a year earlier while imports edged lower.

Shares in China’s most advanced semiconductor manufacturer, SMIC, fell 22.9% in Hong Kong following news that Washington is considering limiting its access to U.S. manufacturing technology. The company has denied suggestions it assists China’s military development.

The Nikkei 225 in Tokyo shed 0.5% to 23,089.95 while the Hang Seng in Hong Kong lost 0.4% to 24,589.65.

The Kospi in Seoul advanced 0.7% to 2,384.42 while Sydney’s S&P-ASX 200 shed 0.3% to 5,944.80.

India's Sensex opened 0.2% lower at 38,288.95. New Zealand and Singapore advanced while Jakarta declined.

Wall Street’s slide Friday followed a Labor Department report that showed U.S. hiring slowed to 1.4 million last month. That was fewest jobs added since the economy started bouncing back from the initial shock of the pandemic. The United States has recovered about half the 22 million jobs lost to the pandemic.

In energy markets, benchmark U.S. crude oil for October delivery fell 62 cents to $39.15 per barrel in electronic trading on the New York Mercantile Exchange. The contract lost $1.60 to $39.77 on Friday. Brent crude for November delivery, the international standard, declined 62 cents to $42.04 per barrel in London. It shed $1.41 the previous session to $42.66.

The dollar held steady at 106.21 yen. The euro fell to $1.1834 from $1.1852.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Economy, AP Business - Financial Markets, AP Business - Industries, AP Business - Financial Services
© Copyright 2021 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Global markets mixed after Wall Street slides
Global stock markets are mixed after Wall Street turned in its biggest weekly decline in more than two months
5:33AM ( 4 minutes ago )
Supporters gather for Assange court extradition showdown
Lawyers for WikiLeaks founder Julian Assange and the U.S. government are squaring off in a London court at a high-stakes extradition case delayed by the coronavirus pandemic
5:05AM ( 32 minutes ago )
Czech Oscar winning director Jiri Menzel dies at age 82
Jiri Menzel, a Czech director whose 1966 movie “Closely Watched Trains” won the Academy Award for the best foreign language film has died
4:50AM ( 47 minutes ago )
Associated Press (AP)
Asia Today: India surges to world's 2nd-worst virus caseload
India’s coronavirus cases surged to 4.2 million, the second-highest total in the world, on Monday as metro trains partially resume service in the capital New Delhi and other states
2:53AM ( 2 hours ago )
India now 2nd worst-hit country by virus amid economic pain
India’s increasing coronavirus caseload has made the Asian giant the pandemic’s second-worst-hit country behind the United States
2:45AM ( 2 hours ago )
Australia leader expects 'sensible outcome' to news pay plan
Australia’s prime minister says he expects a “sensible outcome” to his government’s plans to make digital platforms pay for journalism after Facebook threatened to block Australian publishers and individuals from sharing news stories
1:18AM ( 4 hours ago )
AP Business
Brexit negotiator says UK unafraid to walk away without deal
Britain’s chief Brexit negotiator is talking tough ahead of a crucial round of post-Brexit trade talks
10:27AM ( 19 hours ago )
Virus deaths surpass 1,000 as Israel mulls new restrictions
The coronavirus death toll in Israel has surged past 1,000, as the government mulls steps to impose new restrictions to quell the rapid spread
6:44AM ( 22 hours ago )
Seeking unity, NKorea's Kim vows to overcome typhoon damage
North Korean leader Kim Jong Un has visited typhoon-stricken areas in the northeast, fired a top official there and promised to send 12,000 workers from Pyongyang for recovery efforts
11:13PM ( 1 day ago )
AP Business - Economy
The Latest: Model projects 1.9M more deaths by end of 2020
A widely cited model predicts worsening outbreaks in the Northern Hemisphere will lead to 1.9 million more coronavirus deaths in 2020 unless governments act
3:58PM ( 2 days ago )
Stocks head lower on Wall Street a day after tech sell-off
Stocks are falling again on Wall Street Friday, a day after a big slump in technology companies pulled the market to its biggest drop since June
10:30AM ( 2 days ago )
Stocks open higher on Wall Street a day after tech sell-off
Stocks are opening higher on Wall Street Friday, a day after a big slump in technology companies pulled the market to its biggest drop since June
9:39AM ( 2 days ago )
AP Business - Financial Markets
The Latest: Australia OKs funding for two potential vaccines
Australia announced on Monday it had struck supply and production agreements with pharmaceutical companies worth 1.7 billion Australian dollar ($1.2 billion) over two potential COVID-19 vaccines
10:31PM ( 7 hours ago )
Wildfires, excessive heat and maybe blackouts in California
The managers of California’s power grid are warning there could be rolling blackouts if customers don’t conserve energy
7:06PM ( 10 hours ago )
Germany raises pressure on Russia in Navalny poisoning probe
Germany is increasing the pressure on Russia over the poisoning of Russian opposition politician Alexei Navalny, warning that a lack of support by Moscow in the investigation could “force” Germany to rethink the fate of a German-Russian pipeline project
1:19PM ( 16 hours ago )
AP Business - Industries
Fed survey finds widespread pessimism about economic future
The latest Federal Reserve survey of U
5:39PM ( 4 days ago )
Boy Scouts launch ads on how abuse victims can seek money
The Boy Scouts of America has launched a nationwide advertising campaign to notify victims of decades-old sex abuse by Scout leaders that they have until Nov. 16 to seek compensation as part of its bankruptcy case
2:48PM ( 5 days ago )
French leader marks Lebanon centennial ahead of gov't talks
French President Emmanuel Macron has planted a cedar tree in a forest in Lebanon ahead of talks with Lebanese officials on ways to help the tiny country get out of its worst economic and financial crisis and the aftermath of a blast last month that left thousands dead or wounded
7:29AM ( 5 days ago )
AP Business - Financial Services
Supporters gather for Assange court extradition showdown
Lawyers for WikiLeaks founder Julian Assange and the U.S. government are squaring off in a London court at a high-stakes extradition case delayed by the coronavirus pandemic
5:05AM ( 33 minutes ago )
Czech Oscar winning director Jiri Menzel dies at age 82
Jiri Menzel, a Czech director whose 1966 movie “Closely Watched Trains” won the Academy Award for the best foreign language film has died
4:50AM ( 48 minutes ago )
India now 2nd behind US in virus cases amid economic pain
India’s increasing coronavirus caseload has made the Asian giant the world's second-worst-hit country behind the United States
4:35AM ( 1 hour ago )
Portland, Oregon, demonstrators gather near police precinct
Demonstrators against police brutality have gathered Sunday night near a police precinct on the city's north side
4:22AM ( 1 hour ago )
In pandemic, Nigerian teacher can 'teach the whole world'
A teacher from a Lagos public school is helping students across the country, and internationally, learn math virtually during coronavirus restrictions that have prevented most children from returning to class in Nigeria
4:15AM ( 1 hour ago )