European stock markets deepened losses on Friday, closing near session lows, as fears of a slowdown in global growth after weak manufacturing data from across Europe were exacerbated by dismal data from the United States. The pan-European STOXX 600 index, which had opened higher , slipped for a third day to close down 1.22%. The CAC 40 is down 2.03% while London's FTSE 100 is off 1.98% and Germany's DAX is lower by 1.61%
Wall Street stocks sold off sharply on Friday, with all three major U.S. stock indexes dropping between 1 and 2 percent as weak factory data from the United States and Europe led to an inversion of U.S. Treasury yields, fueling fears of a global economic downturn.. All benchmarks had their biggest one-day drop since Jan. 3 with the Dow Jones Industrial Average tumbling 460.19 points, or 1.77%, to 25,502.32. The S&P 500 index was off 54.17 points, or 1.90%, to 2,800.71 and the Nasdaq Composite Index declined 196.29 points, or 2.50%, to 7,642.67.
Global stocks and bond yields slid Friday as investors’ anxiety mounted about the health of the world economy.
European stock markets deepened losses on Friday, closing near session lows
German manufacturing fell to its lowest level since 2012.
March U.S. manufacturing data misses estimates
U.S. Treasury yield curve inverts
S&P 500, Dow set to post weekly losses
Oil prices were dragged lower Friday by a tumbling stock market and mounting worries about the global economy. West Texas Intermediate futures, the benchmark for U.S. crude prices, ended 1.57% lower at $59.04 a barrel. Prices still rose for a third straight week, logging a four-month high earlier. Brent crude, the global oil standard, ended down 1.24% at $67.03 on Friday.
Global stocks and bond yields are facing fresh pressure as a recent soft patch in data spurs debate over whether the global economy is in the midst of a temporary dip, or headed toward a more serious downturn.
Shares in Asia fell sharply on today morning after disappointing economic data from Europe and a closely-watched signal of potential recession in the U.S. appeared on Friday. Japan’s Nikkei 225 dropped more than 3 percent. Elsewhere in Asia, stocks also saw declines. The Shanghai Composite is off 0.62% while the Hang Seng is down 1.56%. The Nikkei 225 is down 3.22%. The Kospi has lost 1.64%. The ASX 200 is too down 1.19%.
Oil prices dropped on today morning as concerns of a sharp economic slowdown outweighed supply disruptions from OPEC’s production cutbacks and U.S. sanctions on Iran and Venezuela. U.S. West Texas Intermediate (WTI) futures are at $58.47 per barrel, down 57 cents, or 0.97%, from their last settlement. Both crude oil price benchmarks have slumped to $66.14 per barrel at 03:22 am GMT, down 61 cents, or 0.91%, from their last close.
SGX Nifty futues in Singapore EExchange is tradung 63.00 points or 0.55% doen at 11,407.00
Our Markets are likely to open lower on today following muted trend seen in other Global markets.
In Asia Investors dumped shares on today and fled to the safety of bonds while the Japanese yen hovered near a six-week high as risk assets fell out of favour on growing worries about an impending U.S. recession, sending global yields plunging. The Nikkei 225 is down 3.01% while Hong Kong's Hang Seng is off 2.03% and China's Shanghai Composite is lower by 1.97%. The Kospi is down 1.92% The ASX 200 has lost 1.11%.
European shares opened deep in the red on today, adding to the worst weekly fall of the year last week after disappointing economic data in Europe and the United States stoked fears of recession. The pan-European STOXX 600 index down 0.53%, extending three days of declines, with France’s CAC 40 leading losses 0.05%. London's FTSE 100 is off 0.39% and Germany's DAX is lower by 0.17%.
U.S. stock-index futures fell amid a sell-off in Asian and European equity markets as investor pessimism grew on global growth concerns. U.S. negotiators head to Beijing for more talks later this week. Futures contracts on the S&P 500 Index are down 0.4.75 at 05:53 a.m. in New York. Contracts on the Dow Jones Industrial Average and Nasdaq 100 were down 0.17% and 0.31%t respectively.