Global Stocks Fall Friday 02/24 06:04
Global markets slipped in muted trading Friday amid worries over U.S. trade
policies that may affect regional economies. A stronger yen weighed on Japan's
TOKYO (AP) -- Global markets slipped in muted trading Friday amid worries
over U.S. trade policies that may affect regional economies. A stronger yen
weighed on Japan's exporters.
KEEPING SCORE: France's CAC 40 inched down nearly 0.1 percent in early
trading to 4,888.72, while Germany's DAX fell 0.2 percent to 11,923.39. Britain
FTSE100 slipped nearly 0.1 percent to 7,265.51. U.S. shares were set to drift
lower with Dow futures down 0.1 percent at 20,771. S&P 500 futures fell nearly
0.2 percent at 2,359.20.
ASIA'S DAY: Japan's benchmark Nikkei 225 edged 0.5 percent lower to finish
at 19,283.54, while South Korea's Kospi fell 0.6 percent to 2,094.12.
Australia's S&P/ASX 200 dipped 0.8 percent to 5,739.00. Hong Kong's Hang Seng
stood at 23,993.99, down 0.5 percent, but the Shanghai Composite index was
little changed at 3,253.43.
TRUMP WORRIES: President Donald Trump's stance on trade has unnerved many in
Asia, as he has repeatedly accused countries like China and Japan of unfair
competition and currency manipulation that he says are hurting U.S. jobs.
JITTERY TIMES: "While shares have generally continued to push higher they
remain at risk of a short term correction being technically overbought again,
and with short term investor sentiment at levels often associated with
corrections," Shane Oliver of AMP Capital said in a commentary.
ENERGY: Benchmark U.S. crude oil futures lost 34 cents to $54.11 a barrel.
It rebounded 86 cents to $54.45 a barrel in New York overnight. Brent crude,
the standard for pricing international oils, fell 32 cents to $56.50 a barrel
CURRENCIES: The dollar dropped to 112.72 yen from 113.26 yen late Thursday.
The euro rose to $1.0595 from $1.0554.