ALL >> General >> View Article
Wellington And York Partners Taipei Taiwan: Emerging Market Woes Weigh On Stocks, China Deadline Loo
NEW YORK (Reuters) – Emerging market stocks led declines in indexes across the globe on Wednesday as investors positioned themselves more defensively while a deadline in the U.S.-China trade conflict loomed and U.S.-Canada trade talks resumed. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 31, 2018. REUTERS/Brendan McDermid
Weakness in emerging market currencies offered some support to the dollar, which retreated modestly, as the euro rose and Britain’s sterling regained some ground in volatile trading after a four-day losing streak.
The United States and Canada resumed talks about revamping the North American Free Trade Agreement (NAFTA). Canada insisted there was room to salvage the pact despite few signs a deal was close. U.S. President Donald Trump said talks with Canada were coming along.
A public comment period on the possibility of fresh U.S. tariffs on another $200 billion of Chinese goods ends on Thursday, with expectations that Trump will impose the additional levies.
The deadline weighed on MSCI’s emerging markets equities index, which fell 1.7 percent in line with a drop in the Shanghai SE Composite index.
“The linchpin will be China,” said Sameer Samana, global equity and technical strategist for Wells Fargo Investment Institute, in St. Louis, adding that if China continues to grow, other emerging market countries could regain ground.
“We’re actually kicking the tires to see where there’s value,” Samana said.
On Wall Street, the Dow Jones Industrial Average rose 22.51 points, or 0.09 percent, to 25,974.99, the S&P 500 lost 8.12 points, or 0.28 percent, to 2,888.6 and the Nasdaq Composite dropped 96.07 points, or 1.19 percent, to 7,995.17. [.N]
Along with global concerns, U.S. politics were preying on investors minds with issues including upcoming mid-term elections and controversies around President Donald Trump, according to Rick Meckler, partner, Cherry Lane Investments, a family investment office in New Vernon, New Jersey.
“In the absence of an earnings season, politics will be a bigger factor in this market up until the midterms. In general people feel somewhat uneasy. There’s underlying nervousness about politics, interest rates and emerging markets.”
The pan-European FTSEurofirst 300 index lost 1.20 percent and MSCI’s gauge of stocks across the globe shed 0.61 percent.
Emerging market currencies showed a second day of declines, with a JPMorgan emerging market currency index falling 0.2 percent on fears export-oriented economies would be caught in the crossfire of any escalating trade conflict.
Sterling was last trading at $1.2908, up 0.42 percent on the day as investors positioned for a favorable Brexit outcome even after Germany appeared to shoot down an earlier report that Berlin and London might abandon key Brexit demands.
Measured against a basket of currencies, the dollar index fell 0.34 percent, with the euro up 0.42 percent to $1.163.
Benchmark 10-year notes last rose 1/32 in price to yield 2.9004 percent, from 2.902 percent late on Tuesday. The 30-year bond last fell 3/32 in price to yield 3.0737 percent, from 3.069 percent late on Tuesday.
(Graphic: Major currencies – YTD performance: reut.rs/2oGepEn)
Oil prices fell after a U.S. Gulf storm weakened and moved away from oil-producing areas and as concerns mounted about global trade disputes and Turkey’s currency crisis hurting demand. [O/R]
U.S. crude fell 1.39 percent to $68.90 per barrel and Brent was last at $77.35, down 1.05 percent on the day.
General Articles1. Best Outdoor Flood Lights Ledbest Flood Lights
Author: Unknown Member
2. Led Grow Light Reviews
Author: Led grow light reviews
3. Fantasy Cricket- Paradise Of Fantasy Sports
Author: Mehnaz Rangwala
4. Best Waist Trainer For Weight Loss
Author: Unknown Member
5. Maximum Number Of Money Can Be Win In Single Fantasy League
Author: Mehnaz Rangwala
6. On Mobile Apps, Who Can See Your Personal Data?
Author: Smith jacob
7. Tips To Plan Your Nri Wedding Successfully At Matrimonial Websites
8. Rocket League Association Is Ample
9. Digital Marketing Company - Sathya Technosoft
Author: Sathya Technosoft
10. Manual Testing |selenium Training | Software Testing - Tech Trainers Online
11. Astrological Combination For Late Marriage
Author: ajatt oberoi
12. Online Shopping For Weed: The Right Option
Author: Get Weed Online
13. Why Cheap Hosting Is Expensive In The Long Run
Author: Andrew Stevenson
14. How Losing Weight Is Easier With The Help Of Supplements?
Author: nancy smith
15. Love Problem In Bronx | Specialist In Bringing Loved Ones Back In Bronx
Author: Surya Bhagwan