European shares pulled back from three-week highs on Wednesday after the United States toughened its stance on trade with China and data from Beijing showed factory inflation slowed in May, deepening fears of a global economic slowdown. The markets finished lower with shares in France leading the region. The Stoxx 600 fell 0.30% to 379.74. In Germany, the DAX fell 0.33% to 12 ,115.68. The U.K.’s FTSE 100 dropped 0.42% to 7,367.62. Elsewhere, France’s CAC fell 0.62% to 5374.92.
U.S. stocks extended their losses Wednesday, a day after snapping a weeklong winning streak amid lingering trade tensions and questions over the direction of Federal Reserve policy.The Dow Jones Industrial Average slid 43.68 points, or 0.17%, to 26004.83. The S&P 500 fell 5.88 points, or 0.20%, to 2879.84 and the technology-heavy Nasdaq Composite lost 29.85 points, or 0.38% to 7792.72.
Oil prices on Wednesday logged the lowest finish since January as U.S. crude supplies climbed a second week in a row and concerns about energy demand persisted on the back of growing U.S.-China trade tensions. West Texas Intermediate futures fell $ 2.13 or 4% to $51.14 a barrel on the New York Mercantile Exchange, the lowest settlement level since January. Brent crude, the global benchmark, was down $ 2,32 or 3.7% at $59.97 a barrel on London’s ICE Futures exchange, a 19-week low. It was the lowest front-month finish since Jan. 28. Both benchmarks had ended roughly flat on Tuesday.
Asian stocks stuttered on today morning, dogged by the uncertainty over an intractable U.S.-China trade dispute, while oil prices flirted with five-month lows thanks to higher U.S. crude inventories and a bleaker demand outlook. The Shanghai Composite is off 0.60% while the Hang Seng is down 1.42%. The Nikkei 225 is down 0.81%. The Kospi is off 1.09%. The ASX 200 is down 0.09%.
Asian stocks finished mixed today, dogged by the uncertainty over an intractable U.S.-China trade dispute, while oil prices flirted with five-month lows thanks to higher U.S. crude inventories and a bleaker demand outlook. The Shanghai Composite gained 0.05%, while the Nikkei 225 led the Hang Seng lower. They fell 0.46% and 0.05% respectively. The Kospi fall 0.27%. The ASX 200 is off 0.02%.
European shares back in black today morning after telecoms surge. The pan-European STOXX 600 index gained 0.36%. The DAX is up 0.64% while London's FTSE 100 is up 0.35% and France's CAC 40 is up 0.22%.
Oil prices jumped as much as 4% on TOday after a suspected attack on two tankers in the Gulf of Oman near Iran and the Strait of Hormuz, through which a fifth of global oil consumption passes. Brent crude futures were up $2.oo, or 3.34%, at $61.97a barrel by 10:46 am GMT, having risen as much as 4.45% to $62.64. U.S. West Texas Intermediate crude futures were up $1.39, or 2.72%, at $52.53a barrel. WTI earlier rose as much as 3.85% to $53.11.