Global stock markets seem to run back on Thursday with European indexes in green during mid-morning trade, and US futures…
Global stock markets seem to run back on Thursday with European indexes in green during mid-morning trade, and US futures pointing to a positive open after Wednesday’s Wall Street bloodbath.
On Wednesday, Nasdaq saw losing more than 4%, and Dow Jones dropped more than 600 points, or 2.4%. Nasdaq’s fall of the day drove the index in the correction area.
However, Thursday seems to be a better day for US stocks, with futures markets pointing to a strong bounce in all three main indices. Dow and S & P 500 futures propose a 0.7% profit for both respective indices, while Nasdaq is set to bounce more than 1.2%.
After just after kl. 1
0.00 BST (5.00.00 GMT), most European indexes are also higher, with only the UK’s FTSE 100 lower, and even then by only 0.3%. Italy’s FTSE MIB is earning profits, higher by more than 1%, while France’s CAC 40 is 0.8% higher, and Germany’s DAX – which started by almost 1% lower – is up by 0.2%.
The return in Europe and North America comes after a hard session in Asia, which saw Japan’s reference index Nikkei stock index loses almost 4% of its value, and in mid-October, stock markets were suffering from a cocktail of fear.
A combination of anxiety has weighed on the global markets in recent weeks, with some troubled federal government plans to raise interest rates further to limit growth.
Addition to concern, China reported last week that economic growth fell to the lowest level in a decade in the third quarter, which compounded concerns about the country’s economic slowdown.
“What makes the latest volatility more worrying is that it was difficult to identify a specific cause,” said Kerry Craig, a global marketing strategy at JPMorgan Asset Management, on Thursday morning.
“There are many symptoms but no one can diagnose the disease, “he said.” Geopolitics, rising US bond yields, a more Hawaiian-looking US central bank, slowing down Chinese growth, a strong US dollar and the already known problems in some emerging economies have all contributed to market concern. “
The European stocks could see further price movements later this day because they must contend with the coming October October meeting of the European Central Bank. The meeting is expected to contain no major surprises, with policies and guidance likely to remain unchanged from the last meeting of the Central Bank in September.