Stocks Slide With U.S. Futures; Treasuries Advance: Markets Wrap - Yahoo Finance

Stocks Slide With U.S. Futures; Treasuries Advance: Markets Wrap

(Bloomberg) -- Stocks fell in Europe and Asia on Wednesday and U.S. index futures erased an advance following another strong sell-off on Wall Street. Treasuries extended gains.

Declines in travel and leisure shares led the Stoxx Europe 600 Index lower for a fifth straight session. Futures on the three main American gauges erased an earlier gain to turn lower, a day after the S&P 500 Index fell 3% to cap its worst two-day slide since 2015. Korean and Australian stocks led losses in Asia. South Korea’s won fell toward its weakest since 2016 after the country reported a further escalation in coronavirus cases. Ten-year Treasury yields dropped, on track for another record-low close, while the yen gave up some recent gains.

Risk assets are showing few signs of a rebound as the number of global coronavirus cases continues climbing. South Korea said its national total rose to more than 1,000, while American health officials Tuesday warned that they expect the epidemic to spread in the U.S. Traders may be looking out for further signs of policy accommodation after American central bankers said they are closely monitoring the spreading virus, though it’s “still too soon” to say whether it will change the outlook.

“The ultimate impact remains entirely unknown at this stage,” said Eleanor Creagh, a Sydney-based strategist at Saxo Capital Markets. “And uncertainty is the enemy of conviction.”

Elsewhere, West Texas-grade crude oil slipped below $50 a barrel after slumping for two straight sessions.

These are some key events coming up:

Earnings keep rolling in from companies including: Baidu Inc., Best Buy Co. Inc., Occidental Petroleum Corp. and Dell Technologies Inc. on Thursday; and London Stock Exchange Group Plc on Friday.The Bank of Korea announces its policy decision on Thursday, with rising risks of an interest-rate cut.U.S. jobless claims, GDP and durable goods data are out Thursday.Japan industrial production, jobs, and retail sales figures are due on Friday.

These are the main moves in markets:

Stocks

The Stoxx Europe 600 Index declined 1.8% as of 8:50 a.m. London time.Futures on the S&P 500 Index fell 0.4%.Nasdaq 100 Index futures decreased 0.7%.South Korea’s Kospi index declined 1.3%.The MSCI Asia Pacific Index dipped 1.2%.

Currencies

The Bloomberg Dollar Spot Index was little changed.The euro increased 0.1% to $1.0891.The British pound declined 0.2% to $1.2974.The Japanese yen was little changed at 110.23 per dollar.

Bonds

The yield on two-year Treasuries fell six basis points to 1.17%.Germany’s 10-year yield decreased one basis point to -0.52%.Britain’s 10-year yield dipped two basis points to 0.496%.

Commodities

Gold advanced 1.1% to $1,652.77 an ounce.Silver strengthened 0.9% to $18.17 per ounce.

--With assistance from Andreea Papuc and Adam Haigh.

To contact the reporter on this story: Todd White in Madrid at twhite2@bloomberg.net

To contact the editors responsible for this story: Sam Potter at spotter33@bloomberg.net, Yakob Peterseil

For more articles like this, please visit us at bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

©2020 Bloomberg L.P.

Let's block ads! (Why?)

https://finance.yahoo.com/news/asia-braces-more-stock-declines-215253515.html

2020-02-26 08:53:00Z
CBMiTWh0dHBzOi8vZmluYW5jZS55YWhvby5jb20vbmV3cy9hc2lhLWJyYWNlcy1tb3JlLXN0b2NrLWRlY2xpbmVzLTIxNTI1MzUxNS5odG1s0gFVaHR0cHM6Ly9maW5hbmNlLnlhaG9vLmNvbS9hbXBodG1sL25ld3MvYXNpYS1icmFjZXMtbW9yZS1zdG9jay1kZWNsaW5lcy0yMTUyNTM1MTUuaHRtbA

Bagikan Berita Ini