European Markets on Downward Path

European Markets on Downward Path

Voice of America
21 May 2020, 18:35 GMT+10

European Markets on Downward Path

European markets are all down in midday trading Thursday as bad economic news from Japan, and China's worsening trade and diplomatic relations with Australia and the United States, are having a ripple effect with investors across the globe.

The FTSE index in London is 0.9% lower, the CAC-50 in Paris has lost 1% and the DAX index in Frankfurt has plunged 1.3% lower.

Thursday's trading doldrums began in Asia, with Tokyo's benchmark Nikkei index losing 0.2% at its closing bell after the government announced that Japan's exports fell 21.9% last month, the biggest drop since the 2008 global financial crisis. Hong Kong's Hang Seng index lost 0.4%, while Shanghai closed 0.5% lower and the S&P/ASX 500 in Sydney was down 0.4%.

Seoul and Taipei provided the regions few bright spots, earning 0.4% and 0.9% respectively.

Monday's major rally on global markets after news of a potential coronavirus vaccine have faded after Beijing imposed massive tariffs on Australian barley imports, plus the Trump administration's increasingly heated rhetoric against China over its initial response to the coronavirus pandemic, which was first detected late last year in Wuhan.

The Dow Jones, S&P 500 and Nasdaq are all 0.5 lower in futures trading, indicating a lower opening on Wall Street Thursday as investors brace for another grim unemployment report from the Labor Department.

Oil markets are in positive territory Thursday, with U.S. crude trading at $34.13 per barrel, up 1.9%, while Brent crude, the international benchmark, is trading at $36.37 per barrel, up 1.7%.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Tampa Star.

More Information

null in null

Business

Section

US debt limit raised, but spending bill fuels fiscal concerns

US debt limit raised, but spending bill fuels fiscal concerns

NEW YORK CITY, New York: With just weeks to spare before a potential government default, U.S. lawmakers passed a sweeping tax and spending...

Shein hit with 40 million euro fine in France over deceptive discounts

Shein hit with 40 million euro fine in France over deceptive discounts

PARIS, France: Fast-fashion giant Shein has been fined 40 million euros by France's antitrust authority over deceptive discount practices...

Meta hires SSI CEO Gross as AI race intensifies among tech giants

Meta hires SSI CEO Gross as AI race intensifies among tech giants

PALO ALTO/TEL AVIV: The battle for top AI talent has claimed another high-profile casualty—this time at Safe Superintelligence (SSI),...

Engine defect prompts Nissan to recall over 443,000 vehicles

Engine defect prompts Nissan to recall over 443,000 vehicles

FRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...

Microsoft trims jobs to manage soaring AI infrastructure costs

Microsoft trims jobs to manage soaring AI infrastructure costs

REDMOND, Washington: Microsoft is the latest tech giant to announce significant job cuts, as the financial strain of building next-generation...

Stocks worldwide struggle to make ground Friday with Wall Street closed

Stocks worldwide struggle to make ground Friday with Wall Street closed

LONDON UK - U.S. stock markets were closed on Friday for Independence Day. Global Forex Markets Wrap Up Friday with Greeback Comeback...

Business

Section

US debt limit raised, but spending bill fuels fiscal concerns

US debt limit raised, but spending bill fuels fiscal concerns

NEW YORK CITY, New York: With just weeks to spare before a potential government default, U.S. lawmakers passed a sweeping tax and spending...

Shein hit with 40 million euro fine in France over deceptive discounts

Shein hit with 40 million euro fine in France over deceptive discounts

PARIS, France: Fast-fashion giant Shein has been fined 40 million euros by France's antitrust authority over deceptive discount practices...

Meta hires SSI CEO Gross as AI race intensifies among tech giants

Meta hires SSI CEO Gross as AI race intensifies among tech giants

PALO ALTO/TEL AVIV: The battle for top AI talent has claimed another high-profile casualty—this time at Safe Superintelligence (SSI),...

Engine defect prompts Nissan to recall over 443,000 vehicles

Engine defect prompts Nissan to recall over 443,000 vehicles

FRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...

Microsoft trims jobs to manage soaring AI infrastructure costs

Microsoft trims jobs to manage soaring AI infrastructure costs

REDMOND, Washington: Microsoft is the latest tech giant to announce significant job cuts, as the financial strain of building next-generation...

Stocks worldwide struggle to make ground Friday with Wall Street closed

Stocks worldwide struggle to make ground Friday with Wall Street closed

LONDON UK - U.S. stock markets were closed on Friday for Independence Day. Global Forex Markets Wrap Up Friday with Greeback Comeback...

Movie Review

The Belko Experiment