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Stocks Drop Globally, Offering Few Prospects for a Rebound | Stocks Drop Globally, Offering Few Prospects for a Rebound |
(about 2 hours later) | |
HONG KONG — Global investors signaled on Friday that a weeklong stock market swoon could continue for another day. | |
Investors in Asia drove most major markets lower, with a few notable exceptions, and European markets opened broadly lower. Futures that track the S&P 500 stock index in the United States suggested that Wall Street would open lower. | Investors in Asia drove most major markets lower, with a few notable exceptions, and European markets opened broadly lower. Futures that track the S&P 500 stock index in the United States suggested that Wall Street would open lower. |
Stocks in Asia have been buffeted by signs of trouble in the United States and by the slowing of the Chinese economy, the region’s main driver of growth. | |
After the Asian markets closed Friday, a top Chinese policy committee, the Central Economic Work Conference, pledged to “implement active fiscal policies,” a signal that Beijing might increase government spending to hasten growth. | |
Without including specific details, the committee also reiterated recent promises by President Xi Jinping that taxes for business would be cut, among other measures. | |
There were some bright spots in trading on Friday. Most stocks did not fall as far as the S&P 500 had on Thursday, when it ended the day down 1.6 percent. Still, a tumultuous day in Washington and continuing worries about the global economy gave investors little to cheer about. | |
In Japan, the Nikkei 225 index fell 1.1 percent. In China, the Shanghai Composite index fell 0.8 percent. | In Japan, the Nikkei 225 index fell 1.1 percent. In China, the Shanghai Composite index fell 0.8 percent. |
The Hang Seng Index in Hong Kong rose late in the day Friday, finishing up 0.5 percent. The Kospi index in South Korea also ended higher. | |
In Europe, major markets opened trading down less than 1 percent. |