Asian stocks fall to two-week low

Asian stocks fall to two-week low as hopes fade for big Fed rate cut, tech stocks drag.

World stocks fell for a third straight day on Tuesday, as a stinging warning came from German chemicals giant BASF about the effects of the global trade war and traders hedged bets on a hefty U.S. interest rate cut later this month.

Asian Stocks

  • Futures on the S&P 500 Index declined 0.5% as of 9:22 a.m. London time, heading toward the largest drop in two weeks.
  • The Stoxx Europe 600 Index declined 0.7%, the lowest in more than a week.
  • The U.K.’s FTSE 100 Index fell 0.2%, the lowest in more than a week.
  • Germany’s DAX Index dipped 1.2%, the biggest decrease in more than five weeks.
  • The MSCI Asia Pacific Index decreased 0.4% to 158.68, the lowest in almost three weeks.

Currencies

  • The British pound fell 0.4% to $1.246, the weakest in more than two years.
  • The euro decreased 0.1% to $1.1201, the weakest in three weeks.
  • The Japanese yen dipped 0.1% to 108.82 per dollar, the weakest in almost six weeks.

Bonds

  • The yield on 30-year Treasuries climbed less than one basis point to 2.53%.
  • Germany’s 10-year yield increased less than one basis point to -0.36%, the highest in more than a week.
  • Britain’s 10-year yield was unchanged at 0.715%.

Commodities

  • West Texas Intermediate crude decreased 0.5% to $57.39 a barrel, the first retreat in a week.
  • Gold fell 0.2% to $1,392.48 an ounce, the weakest in more than a week.
  • Iron ore increased 3.5% to $116.30 per metric ton

Source

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy