Global stocks fall after best two-day rally since November

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Global stocks fall after their best two-day rally since November via IrishTimesBiz

was up 2 per cent, while in the gaming sector Paddy Power Betfair parentOn the downside,The euro held near a nine-month high against the dollar, though European stocks eased after regional business activity data reinforced expectations that the European Central Bank will raise rates by a further 50 basis points.

S&P Global’s flash Composite Purchasing Managers’ Index climbed to 50.2 this month from 49.3 in December, the first time it has been above the 50 mark since June. “For the ECB, this should seal the deal for a 50-basis point hike next week,” said ING economists in a note.US stock indexes fell after industry bellwethers 3M, Johnson & Johnson and General Electric beat expectations for profit but warned of a challenging year ahead.fell 5.9 per cent, leading the decliners among Dow components after reporting a fall in quarterly profit.Johnson & Johnson

 

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