European Stock Markets
European stocks pared an early gain and Asian equities nudged lower as
investors weighed the latest headwinds to technology companies and
prepared for a series potentially market-moving events this week. The
dollar rose with Treasury yields and the pound erased an advance.
Trading was mixed and muted in equities across both Europe and Asia following Monday’s selloff, which was sparked by a series of negative tech stories including Facebook Inc.’s data issues and a fatal accident involving an Uber Technologies Inc. self-driving car. U.S. stock futures drifted lower on Tuesday, with contracts for the Nasdaq 100 pointing to more tech declines. Metals were once again under pressure, but Bloomberg’s broader index of raw materials increased.
In the wake of the tech setbacks and with a Federal Reserve rate decision a day away, bullish sentiment appears in short supply. Compounding the reasons for caution were reports late Monday in Washington saying that the White House plans to impose tariffs worth as much as $60 billion on Chinese products as part of a battle over safeguarding intellectual property.
It would be the latest phase of President Donald Trump’s protectionist agenda, and threatens to increase market fears of a trade war.
Elsewhere, sterling gave up most gains after data showed the U.K. inflation rate fell more than expected in February. West Texas Intermediate oil prices climbed. Russia’s ruble steadied after six days of losses.
Stocks
The Stoxx Europe 600 Index increased 0.1 percent as of 10:14 a.m. London time.
Futures on the S&P 500 Index decreased 0.1 percent to the lowest in more than two weeks.
The MSCI Asia Pacific Index fell 0.2 percent to the lowest in more than a week.
The U.K.’s FTSE 100 Index gained 0.2 percent.
The MSCI Emerging Market Index increased 0.3 percent.
Currencies
The euro sank 0.2 percent to $1.231.
The British pound climbed less than 0.05 percent to $1.4026, the strongest in more than a month.
Bonds
The yield on 10-year Treasuries rose one basis point to 2.86 percent.
Germany’s 10-year yield rose one basis point to 0.58 percent.
Britain’s 10-year yield increased two basis points to 1.445 percent.
Trading was mixed and muted in equities across both Europe and Asia following Monday’s selloff, which was sparked by a series of negative tech stories including Facebook Inc.’s data issues and a fatal accident involving an Uber Technologies Inc. self-driving car. U.S. stock futures drifted lower on Tuesday, with contracts for the Nasdaq 100 pointing to more tech declines. Metals were once again under pressure, but Bloomberg’s broader index of raw materials increased.
In the wake of the tech setbacks and with a Federal Reserve rate decision a day away, bullish sentiment appears in short supply. Compounding the reasons for caution were reports late Monday in Washington saying that the White House plans to impose tariffs worth as much as $60 billion on Chinese products as part of a battle over safeguarding intellectual property.
It would be the latest phase of President Donald Trump’s protectionist agenda, and threatens to increase market fears of a trade war.
Elsewhere, sterling gave up most gains after data showed the U.K. inflation rate fell more than expected in February. West Texas Intermediate oil prices climbed. Russia’s ruble steadied after six days of losses.
Stocks
The Stoxx Europe 600 Index increased 0.1 percent as of 10:14 a.m. London time.
Futures on the S&P 500 Index decreased 0.1 percent to the lowest in more than two weeks.
The MSCI Asia Pacific Index fell 0.2 percent to the lowest in more than a week.
The U.K.’s FTSE 100 Index gained 0.2 percent.
The MSCI Emerging Market Index increased 0.3 percent.
Currencies
The euro sank 0.2 percent to $1.231.
The British pound climbed less than 0.05 percent to $1.4026, the strongest in more than a month.
Bonds
The yield on 10-year Treasuries rose one basis point to 2.86 percent.
Germany’s 10-year yield rose one basis point to 0.58 percent.
Britain’s 10-year yield increased two basis points to 1.445 percent.
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