According to recent reports, the pan-European Stoxx 600dropped by 0.8 percent in mid-morning deals. Nearly all sectors and businesses are and were in negative territory.
On Wednesday morning, the pan-European Stoxx 600 stood at 0.8% during mid-morning and nearly all sectors and bourses were in negative territory.
On the other hand, trading volumes were expected to be quite low on Wednesday, as US stock markets were lower.
Moreover, in Europe, investors were likely to close their monitor and look further into political developments as lawmakers were going to continue to debate in and for Brexit’s plans.
Additionally, UK’s currency is also edging up higher and is up by about 0.2 percent as it is going to hit a $1.2739 low during and in mid morning deals.
Market focus is also very attuned to global trade developments as there are rising doubts about the two biggest economies in the world.
Moreover, according to newly revealed data, the euro zone retail sales were stronger than anticipated in October. According to figures published by EU, online sales are helping in pushing retail sales, as sales were stronger than anticipated in October.
On the other hand, UK currency edged up closer, hitting 0.2% higher in $1,2739 in mid-morning deals.
Moreover, market focus is quite attuned to the global trade developments amongst rising global concerns. The 2nd largest economy in the world will be able to secure a comprehensive trade deal in a cease fire on tariffs.
Additionally, there are concerns about the market slowing down US growth as it appeared to accelerate decline with long term treasury yields overnight.
On the other hand, in stocks, performance of certain stocks was as following:
Facebook dropped by 2.2 percent, as it lost $7.6 billion (market value), Amazon dropped by 5.9%, as it lost $50.8 billion in market value, Apple dropped by 4.4%, Netflix dropped by 5.2%, Alphabet dropped by 4.8% and Amazon dropped by 5.9%.
The losses have extended their pain periods for Apple, while on the other hand, there have been many downturns in the recent weeks. Moreover, Facebook is on a low, whereas Amazon and Netflix are up by 40% (year to year basis).
Moreover, Asian markets are tumbling ahead of the upcoming OPEC meeting. Hong Kong has fallen more and above 2.5%, whereas the Hang Seng index has fallen to brand new lows. It has shed above 2% in the morning.
Additionally, OPEC and other top oil producing countries are going to meet later on. In other news, Hang Seng index dropped by 2.62% in the morning session, whereas shares of Tencent, Chinese tech heavy weight index is dropping by 3.6 percent.
Japan Nikkei 225 dropped by 2.4% during the afternoon whereas Topix index dropped by 2.16%. Additionally, Kospi of South Korea dropped by 1.41% as shares of Samsung Electronics declined by 1.93%.
Moreover, Japan’s Nikkei 225 fell by 2.4% during the afternoon whereas Topix dropped by 2.16%, Kospi of South Korea dropped by 1.41%, as shares dropped and Samsung Electronics lost 1.93 percent.
In Australia, the ASX dropped by 0.52% in afternoon trade whereas the sector mixed. The Energy Subindex dropped by 0.51% ahead of OPEC’s meeting.
The Australian dollar the ASX 200 slipped by 0.52% in afternoon trade whereas other sectors were quite mixed.
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