Stocks plunge: Nikkei down 13%, European shares near six-month lows

  • 📰 KitcoNewsNOW
  • ⏱ Reading Time:
  • 66 sec. here
  • 32 min. at publisher
  • 📊 Quality Score:
  • News: 131%
  • Publisher: 78%

Kitco News Nyheter

Gold,Silver,Platinum

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

LONDON/SYDNEY, Aug 5 - Wall Street looked to follow a global stock rout with Japanese shares at one point exceeding their 1987"Black Monday" loss, as fears of a U.S. recession sent investors fleeing from risk while wagering that rate cuts would be needed to rescue growth.

"There are lots of other big moves in markets but it's safe to say they wouldn't have been nearly as big if it wasn't August," said Jim Reid, global head of macro and thematic research, pointing to how thinly-traded summer markets can be roiled more easily.

"Signs of emerging weakness in the U.S. economy are evident, with negative indicators from hiring, retail sales, and PMI reports," said Bruno Schneller, managing partner at Erlen Capital Management. "Now that the Fed looks to be materially behind the curve, we expect a 50 bp cut at the September meeting, followed by another 50 bp cut in November," said economist Michael Feroli. Investors will get a read on employment in the service sector from the ISM non-manufacturing survey later on Monday and analysts are expecting a rebound to 51.0 after June's unexpected slide to 48.8.

The dollar fell by as much as 3.28% against the Japanese yen to 141.675 but had recovered to 142.675 by 1142 GMT, while the euro dived 2.3% to 156.20 yen . The single currency rose against the dollar to $1.0952 . "If the recession narrative takes hold in earnest, we would expect that to change, and the dollar to rebound as safe-haven demand becomes the dominant driver in currency markets."

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 13. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Morning Bid: Stocks reel on 'R-word' return, Nikkei dives 12%Whether the prospect of a U.S. recession is real or imagined, the mere return of the discussion has been enough to send world stocks and bond yields reeling ...
Källa: YahooFinanceCA - 🏆 47. / 63 Läs mer »

Stocks trampled, Nikkei tumbles past Black Monday milestoneJapan’s benchmark Nikkei average closed 12.40% lower at 31,458.42, its largest one-day fall since October 1987, while the broader Topix lost 12.48% to 2,220.91
Källa: globeandmail - 🏆 5. / 92 Läs mer »

European tech stocks fall to six-month low, join in global sell-offEuropean technology stocks fell to their lowest level in over six months on Friday, amid a broad global equity sell-off and as investors dumped semiconductor...
Källa: YahooFinanceCA - 🏆 47. / 63 Läs mer »

Private Equity Deals Dent European IPO Pipeline as Stocks WaverPrivate equity firms are snapping up initial public offering candidates, eating into a fast-depleting European pipeline at a time when companies are shelving listing plans.
Källa: BNNBloomberg - 🏆 83. / 50 Läs mer »

Hedge funds' growing sway underlies volatility in European stocksThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Källa: KitcoNewsNOW - 🏆 13. / 78 Läs mer »

Premarket: European stocks slip, global IT outage causes chaosUncertainty across major economies added to headwinds for investors
Källa: globeandmail - 🏆 5. / 92 Läs mer »