European shares slipped and closed to ten week lows on Wednesday as Chinese newspapers warned Beijing was ready to use its supply of rare earths in an increasingly bitter trade dispute with the United States, sending investors scurrying for perceived safe havens for capital globally. the pan-European STOXX 600 index lost 1.43%. The CAC 40 is down 1.71% while Germany's DAX is off 1.57% and London's FTSE 100 is lower by 1.15%.
U.S. stocks fell on Wednesday, with the S&P 500 and Nasdaq closing just above key support levels, as worries that a lengthy U.S.-China trade war would crimp global growth pushed investors into the safety of government bonds. The Dow Jones Industrial Average fell 221.36 points, or 0.87%, to 25,126.41, the S&P 500 lost 19.37 points, or 0.69%, to 2,783.02 and the Nasdaq Composite dropped 60.04 points, or 0.79%, to 7,547.31.
Oil prices fell Wednesday as investors’ risk appetite was hampered by worries that trade tensions could limit demand, with the U.S.-China dispute appearing to move further from resolution. West Texas Intermediate crude for July delivery on the New York Mercantile Exchange fell 33 cents, or 0.6%, to settle at $58.81 a barrel after trading as low as $56.88. Global benchmark July Brent fell 66 cents, or 0.9%, to $69.45 a barrel on ICE Futures Europe.
Financial markets around the world have sold off sharply after Beijing signalled a readiness to strike back at Washington in their escalating trade war by restricting exports of rare-earth elements. As the implications of the latest development in the trade war reverberated around the world on Wednesday, stock markets fell sharply in U.S. Europe and Asia.
Pan-European share index down more than 1%
Wall Street recorded steep losses on Wednesday.
Commodity markets were also dominated by fears of a global economic downturn. Oil prices fell Wednesday
U.S. Treasury yields at the lowest since September 2017.
Stocks in Asia set to slip today after Dow drope for a second consucutive day. Japanese shares are lower today . The stock markets in Hong Kong and Shanghai are closed at this time.
Stocks in Asia are generally lower in today morning trade following a overnight session on Wall Street that saw the Dow dropping more than 200 points. The Nikkei 225 is down 0.85%. The Shanghai Composite is off 1.08% while the Hang Seng is down 0.68%. The Kospi is up 0.20%. The ASX 200 has lost 0.70%.
The SGX Nifty in Singapore Exchange is trading 6.00 points or 0.05% up at 11,870.
Our Markets are likely to open flat on today following mixed trend seen in other Asian markets.
Asian stocks tracked Wall Street losses on today as latest exchanges between Beijing and Washington signaled the heightened risk of a prolonged trade war, stoking investors’ concerns about the impact on global economic growth. The markets finished lower today with shares in Hong Kong leading the region. The Hang Seng is down 0.35% while China's Shanghai Composite is off 0.31% and Japan's Nikkei 225 is lower by 0.29%. TheKospi bucked the overall trend as it rose 0.77%. The ASX 200 is off 0.74%.
European markets are trading higher today morning, as investors navigate the latest escalations in the U.S.-China trade war. The Pan European STOXX 600 is up 0.33%. The DAX is up 0.45% while France's CAC 40 is up 0.43% and London's FTSE 100 is up 0.23%.