European shares closed lower on Wednesday as upbeat results from chipmaker ASML and pharma firm Swedish Orphan Biovitrum were offset by a steep fall in oil stocks, with rising Sino-U.S. trade tensions weighing. The pan-European stocks benchmark STOXX 600 is flat with a marginal loss of 0.01%. The CAC 40 is down 0.76% while Germany's DAX is off 0.72% and London's FTSE 100 is lower by 0.55%.
U.S. stocks fell as the start of earnings season exposed weaknesses in the growth outlook for some companies. Major indexes declined for a second straight day. The Dow Jones Industrial Average fell 115.78 points, or 0.42%, to 27,219.85, the S&P 500 lost 19.62 points, or 0.65%, to 2,984.42 and the Nasdaq Composite dropped 37.59 points, or 0.46%, to 8,185.21.
Oil futures fell more than 1% on Wednesday, extending a more than 3% drop in prices the previous session, after U.S. government data showed large builds in refined product stockpiles. Brent crude futures were down 69 cents, or 1.1%, to settle at $63.66 a barrel. U.S West Texas Intermediate (WTI) crude futures fell 84 cents, or 1.5%, to settle at $56.78 a barrel. Both benchmarks shed more than 3% on Tuesday.
Asian shares wobbled in morning today trading as Wall Street stocks dropped on early signs that the U.S.-China trade war could hurt corporate earnings, helping to underpin solid demand for safe-haven U.S. Treasuries. Ths markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.50% while the Hang Seng is down 0.37%. The Nikkei 225 is down 1.60%. The Kospi is off 0.29%. The ASX 200 loose 0.22%.
The SGX Nifty Futures in Singapore Exchange is trading 14.00 pointsmor 0.12% lower at 11,659.50
Our Markets are expected to open lower today in line with the muted trend observed in the Gllobal Markets.