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Stocks Drop Globally, Offering Few Prospects for a Rebound Stocks Drop Around the World, Suggesting Another Grim Day on Wall St.
(about 1 hour later)
HONG KONG — Global investors signaled on Friday that a weeklong stock market swoon could continue for another day. HONG KONG — Global investors signaled on Friday that a weeklong swoon on Wall Street might stretch into 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. European markets followed, sinking lower in early trading and remaining down into the early afternoon.
Nonetheless, futures that track the S&P 500 index in the United States suggested stocks on Wall Street would open down.
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.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. After the Asian markets closed on 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. Without including 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.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 was down 0.8 percent. The Hang Seng Index in Hong Kong rose late in the day, finishing 0.5 percent higher. The Kospi index in South Korea 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, the Euro Stoxx 50, a measure of blue-chip shares, was down almost 0.5 percent. In Britain, the FTSE 100 pared some of its losses after sinking through the morning and was down just over 0.2 percent by early afternoon. France’s CAC 40 fell a little further, about 0.3 percent, and the Dax in Germanyslid about 0.3 percent.
In Europe, major markets opened trading down less than 1 percent.