The Financial Express

Global stock markets move back

| Updated: January 22, 2018 12:07:13

File Photo (Collected) File Photo (Collected)

World stock markets slipped into the red zone on Thursday, as a decline in Boeing and interest-rate sensitive sectors such as utilities and real estate weighed on US equities.

US stocks took a breather after the strongest performance of the year. The Dow Jones Industrial Average fell 97.84 points, or 0.37 per cent, to end at 26,017.81.

The S&P 500 lost 4.53 points, or 0.16 per cent, to 2,798.03 and the Nasdaq Composite dropped 2.23 points, or 0.03 per cent, to 7,296.05, reports Reuters.

European shares closed modestly higher, led by a rise in cyclical stocks.

The pan-European FTSEurofirst 300 index .FTEU3 rose 0.21 per cent and MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.06 per cent.

Yields on 10-year Treasury notes reached a 10-month high after China reported fourth-quarter growth that accelerated for the first time in seven years.

The data drove European counterparts higher as well, with Germany’s 10-year bond yield DE10YT=RR hitting a six-month top at 0.595 per cent.

The US dollar fell as traders piled into the euro, yen, sterling, and other major currencies amid worries over a possible US government shutdown.

The trade-weighted dollar was last down 0.45 per cent with the euro EUR= up 0.45 per cent to $1.2239.

Oil prices recovered from early losses after a record drawdown of US crude stockpiles at the Cushing, Oklahoma delivery hub.

US crude CLcv1 settled at $63.95 per barrel, down 2 cents, and Brent LCOcv1 settled at $69.31, down 7 cents.

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