World stocks slip; dollar firms again

Published: February 09, 2019 11:57:12 | Updated: February 14, 2019 12:41:06


File Photo (Collected)

World stocks fell for a third straight day on Friday on pessimism about global economic growth and trade tensions, while the US dollar was on track for its biggest weekly gain since August.

MSCI’s gauge of stocks across the globe shed 0.60 per cent on the day, and was set to fall for the week following six consecutive weekly increases.

Stocks pared some losses after a White House spokeswoman said US-China trade talks would resume next week in Beijing.

On Wall Street, the Dow Jones Industrial Average fell 155.79 points, or 0.62 per cent, to 25,013.74, the S&P 500 lost 9.31 points, or 0.34 per cent, to 2,696.74, and the Nasdaq Composite dropped 14.80 points, or 0.2 per cent, to 7,273.55.

The pan-European STOXX 600 index lost 0.56 per cent, reports Reuters.

The dollar edged higher against a basket of currencies, keeping it on track for its strongest weekly gain in six months, as traders piled into the greenback in a safe-haven move on worries about a weakening global economy.

The dollar index rose 0.14 per cent, with the euro down 0.16 per cent to $1.1322.

US Treasury yields fell for a fourth straight session.

Benchmark US 10-year notes last rose 6/32 in price to yield 2.6339 percent, from 2.654 per cent late on Thursday.

Oil prices were little changed on the day, but were heading for a weekly loss on renewed concerns about slowing global demand.

US crude rose 0.15 per cent to $52.72 per barrel and Brent was last at $62.07, up 0.71 per cent on the day.

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