LONDON - World equity markets slipped on Thursday amid worries on global growth and as investors digested European earnings, while the Swedish crown slumped to its lowest in 17 years and the euro suffered after German data.
Energy stocks and a 10 percent drop in Finnish telecoms equipment maker Nokia dragged down European shares, with a varied bag of earnings for the region’s banks.Asian markets had fallen earlier in the day, losing 0.5 percent as South Korea’s economy unexpectedly contracted in the first quarter, giving a sharp reminder of the fragility of the world economy beyond the United States.
Those worries on growth also played out closer to home for European investors, with fears lingering over the state of the German economy after a survey on Wednesday showed German business morale falling. “You certainly have a common response to a global growth slowdown in terms of monetary policy,” said Peter Schaffrik, head of European rates strategy at RBC Capital Markets.
The dollar index, which measures the greenback versus a basket of six major peers, stood at around at 98.001, near its highest since May 2017 hit on Wednesday.
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