Wall Street falls on global growth worries

Stocks on Wall Street were down for a third day on weak economic signals from the eurozone and fresh concerns from China about slowing global growth.

The eurozone’s preliminary composite purchasing managers' index fell to a three-month low of 48.7 in March, from 49.3 in February, compared with expectations of a slight increase.

A preliminary reading of HSBC's purchasing managers' index for China fell to a four-month low.

The Dow Jones Industrial Average declined 78.48 points, or 0.6%, to finish at 13,046.14.

The S&P 500 index shed 0.7% to 1392.78. with FedEx falling 3.5% after delivering a disappointing earnings outlook and cutting its economic growth forecast.

The Nasdaq Composite slid 0.4% to 3063.32.

European markets were in broad decline, with the Stoxx Europe 600 down 1.2% at 265.49.

The UK's FTSE 100 index fell 0.8% to 5845.65, Germany's DAX closed down 1.3% at 6981.26, and France's CAC-40 index slid 1.6% at 3472.46.

In Asia, China's Shanghai Composite eased 0.1% to 2375.77 and Korea's Kospi shed 0.1% to 2026.12.

Hong Kong's Hang Seng Index snapped a four-session losing streak to gain 0.2% to 20901.56.

India's Sensex index slid 2.3% to 17196.47, its lowest close in more than two weeks.

Japan's Nikkei Stock Average firmed 0.4% to 10,127.08, while Australia's S&P/ASX 200 index added 0.5% to 4273.70.

Crude-oil futures dropped 2.4% to $US104.68 a barrel, while gold futures declined 0.8% to $US1637 an ounce.

The US dollar lost ground versus the yen but strengthened against the euro.
 

This article is tagged with the following keywords. Find out more about My Tags

Comment & Question

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7855 0.0027 0.34%
AUD 0.8916 -0.0025 -0.28%
EUR 0.6198 0.0010 0.16%
GBP 0.4881 -0.0002 -0.04%
HKD 6.0929 0.0209 0.34%
JPY 84.8460 0.1990 0.24%

Commods

Commodity Price Change Time
Gold Index 1228.6 -9.570 2014-10-23T00:
Oil Brent 86.8 0.380 2014-10-23T00:
Oil Nymex 82.0 1.530 2014-10-23T00:
Silver Index 17.1 -0.073 2014-10-23T00:

Indices

Symbol Open High Last %
NZX 50 5292.8 5344.4 5292.8 0.77%
NASDAQ 4459.5 4475.0 4452.8 0.46%
DAX 9008.6 9044.9 9047.3 -0.66%
DJI 16677.0 16789.7 16677.9 0.53%
FTSE 6419.1 6419.1 6419.1 -0.47%
HKSE 23311.9 23352.6 23333.2 -0.13%
NI225 15354.4 15377.0 15139.0 1.01%