Global stocks follow Wall St lower ahead of US inflation data


BEIJING (AP) – Global equity markets fell on Friday ahead of US inflation data that could influence a Federal Reserve decision on when to reverse the economic stimulus.

London and Frankfurt opened lower. Shanghai, Tokyo and Hong Kong fell back.

Fed officials, who are due to meet next week, said plans to cut bond purchases and other stimulus that boost stock prices could be accelerated if necessary to calm inflation which peaked in 30 years in October.

Traders were “potentially taking some risks on the table” while awaiting November consumer price data, IG’s Yeap Jun Rong said in a report.

In early trading, the London FTSE 100 lost 0.3% to 7,302.55 and the Frankfurt DAX lost 0.4% to 15,576.18. The Parisian CAC 40 fell 0.6% to 6,969.04.

On Wall Street, the future of the benchmark S&P 500 was 0.1% higher. The Dow Jones Industrial Average was up less than 0.1%.

On Thursday, the S&P 500 fell 0.7% and the Nasdaq composite lost 1.7%. The Dow Jones slipped less than a point.

In Asia, the Shanghai Composite Index fell 0.2% to 3,666.35 and the Nikkei 225 in Tokyo fell 1% to 28,437.77. The Hang Seng in Hong Kong fell 1.1% to 23,995.72.

Seoul’s Kospi was down 0.6% to 3,010.23 and Sydney’s S & P-ASX 200 was down 0.4% to 7,353.50.

The Sensex Indian lost 0.4% to 58,556.36. New Zealand and Jakarta won while Singapore fell.

On Wall Street, the S&P 500 had gained 3.6% this week after the White House chief medical adviser said the omicron variant may not be as dangerous as the previous delta strain. It allayed fears of further restrictions on travel and business.

Tech stocks and a mix of retailers and other companies that rely on direct consumer spending weighed the most on the S&P 500. Chipmaker Nvidia fell 3.4%, while Tesla slipped 6. 1% for the largest drop in the index.

Travel-related businesses have slipped. Carnival Cruise Line fell 1.7% and United Airlines fell 1.8%.

Health-related stocks have increased. Pfizer, which touts the potential benefits of a vaccine booster against the omicron variant, rose 1.3%.

The Labor Department reported that the number of Americans claiming unemployment benefits plunged last week to the lowest level in 52 years.

In energy markets, benchmark US crude gained 6 cents to $ 71.00 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell from $ 1.42 Thursday to $ 70.94. Brent crude, the basis of international oil prices, fell 7 cents to $ 74.35 a barrel in London. He lost $ 1.40 the previous session to $ 74.42.

The dollar gained 113.58 yen from 113.48 yen on Thursday. The euro gained $ 1.1295 against $ 1.1289.

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