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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 on Friday signaled that a weeklong stock market swoon could continue for another day. 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.
There were some bright spots. Most markets did not fall to the same degree as the S&P 500, which on Thursday ended 1.6 percent lower. Still, a tumultuous day in Washington and continued worries about the global economic scene gave investors little to cheer about. 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.
Hong Kong’s Hang Seng Index rose late in the day on Friday, finishing up 0.5 percent. South Korea’s Kospi index also ended higher. 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 less than 1 percent lower. In Europe, major markets opened trading down less than 1 percent.