Stocks sell off as US data sparks worry, yields plunge

NEW YORK/LONDON, Aug 1 - Global equities dropped on Thursday, with Wall Street's major indexes selling off as U.S. data sparked economic worries about and financial stocks in Europe saw their biggest one-day rout since March 2023.

The Federal Reserve held interest rates steady on Wednesday but opened the door to a cut in September. The Bank of England stole a march on the U.S. central bank on Thursday by lowering borrowing costs by a quarter-point in a narrow 5-4 vote. "Today's selloff isn't about earnings. It's about whether the Fed sees what the data is saying," said Quincy Krosby, chief global strategist for LPL Financial in Charlotte, North Carolina.

"The fact that some heavyweights are cutting guidance does not bode well going forward and might well explain why European markets are underperforming," said Stephane Ekolo, equity strategist at TFS Derivatives. Emerging market stocks , held onto gains, or 0.10%, to 1,085.84. MSCI's broadest index of Asia-Pacific shares outside Japan , closed 0.54% higher at 568.59.

"It's early but the fact we haven't really seen the rally continue suggests that markets may be trying to catch some breath before tomorrow's payrolls report."

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Why bad news is good news in a bull market: Stocks in TranslationThe major indexes (^DJI,^GSPC, ^IXIC) are in a record-smashing year as bullish calls on the S&P 500 pile up. RBC recently revised its S&P 500 (^GSPC) target ...
Sumber: YahooFinanceCA - 🏆 47. / 63 Baca lebih lajut »

BlackRock bullish on U.K. stocks after elections, Japan stocks are top playBlackRock Investment Institute said in a mid-year outlook report that the prospect of higher-for-longer interest rates made inflation-linked bonds attractive
Sumber: globeandmail - 🏆 5. / 92 Baca lebih lajut »

Stock market news today: Stocks slip en route to sharp weekly losses for S&P 500, NasdaqStocks are facing another rough ride after a global IT outage hit businesses worldwide, with weekly losses in play.
Sumber: YahooFinanceCA - 🏆 47. / 63 Baca lebih lajut »

Stock market news today: Nasdaq leads stocks higher after Biden backs outInvestors are surveying a changed political landscape after Biden called off his re-election bid, assessing what it could mean for the Trump trade.
Sumber: YahooFinanceCA - 🏆 47. / 63 Baca lebih lajut »

Stock market news today: US stocks waver amid earnings flood, with Big Tech on deckA marquee earnings day brings Big Tech results, in focus as investors assess the future of this year's rally.
Sumber: YahooFinanceCA - 🏆 47. / 63 Baca lebih lajut »

Stock market news today: US stocks rise amid earnings flood, with Big Tech on deckA marquee earnings day brings Big Tech results, in focus as investors assess the future of this year's rally.
Sumber: YahooFinanceCA - 🏆 47. / 63 Baca lebih lajut »