This translation has been automatically generated and has not been verified for accuracy.Global shares dipped on Monday as weaker than expected economic surveys added to investor worries over the unresolved U.S.-China trade dispute’s effects on the world economy, while oil gained more than 1% as Middle East tensions remained elevated.
Germany’s DAX index hit its lowest level in nearly two weeks, down 1.35% after the euro zone data, while France’s CAC 40 fell nearly 1%.Oil prices rose on doubts about how fast Saudi Arabia can restore full crude output after an attack earlier this month on its largest processing facility. “It seems that the malaise in manufacturing -- owed to trade and Brexit worries -- has started to spread to the much larger services sector as well.”Most Asian share markets slipped as investors waited for more clarity on U.S.- China trade talks.
U.S. stock futures -- earlier up 0.4% -- sank after the PMI data in Europe. S&P 500 E-mini futures were last down 0.2%.Over the weekend, the U.S. Trade Representative’s office issued a brief statement characterising the two days of talks with China as “productive.” It added that a principal-level trade meeting in Washington would take place in October, as previously planned.
“There are real concerns about the impact on economies from the trade dispute,” said Michael McCarthy, Sydney-based strategist at CMC Markets.