- EU greenhouse gas emissions saw 'huge' drop in 2023
- Beauden Barrett starts at fly-half for New Zealand against England
- Musk's millions: Five ways the world's richest man helps Trump
- Spain flood death toll soars to 158
- Harris, Trump head west in US election race countdown
- Amorim promises 'clarification' on Man Utd manager's job on Friday
- Macron to speak inside Notre Dame for cathedral reopening: archbishop
- Man Utd target Amorim says no decision before Friday
- US Fed's favored inflation gauge cools in September
- All Blacks coach Robertson defends haka after jibe from England's Marler
- French PM Barnier 'doing well' after operation
- Two children among three dead in Ukraine airstrike
- Nepal's day of the dog as part of Hindu celebrations
- Not enough time in universe for monkeys to pen Shakespeare: study
- South Africa sweep Bangladesh series with crushing innings victory
- All Blacks recall big guns for England clash
- Musk to appear in court as part of Trump campaign suit
- Sales slump 27% at carmaker Stellantis
- French PhD student held in Tunisia: supervisor
- US envoys in Israel to seek Lebanon truce plan
- EU probes shopping app Temu over illegal products
- Spain mourns after historic floods kill 95
- New doubt over production cuts in plastic pollution treaty
- Top MotoGP riders want Valencia race moved after deadly floods
- Yao Ming quits as head of China's basketball association
- Eurozone inflation rebounds more than expected in October
- Man Utd set to announce Amorim as new manager
- Hong Kong economic growth misses forecast in third quarter: data
- Snow forecast next week on Mt Fuji, at last
- Faker: eSports legend and South Korea 'national treasure'
- Sho-time! Japan fans ecstatic as Ohtani becomes World Series champ
- 90 Rohingya left 'stranded' on Indonesia beach
- As US election rhetoric heats up, illegal border crossings fall
- Snooker legend Ronnie O'Sullivan granted residency in Hong Kong
- 'We'll survive': Ukrainians on front brace for hard winter
- Lips, teeth and breasts: Albania cashes in on medical tourism
- Bangladesh 137-8 at lunch, trail by 438, as five-star Rabada strikes
- Iannone to race at Malaysian MotoGP after four-year doping ban
- Russia stirs up anti-LGBTQ prejudice in Moldova 'information war'
- Germany to bury nuclear waste but toxic dispute unresolved
- All eyes on US TV networks for 'high stakes' election night
- Bank of Japan warns of 'high uncertainties' after election
- World Series MVP Freeman 'ecstatic' after Dodgers triumph
- Australian rising golf star loses sight in eye after freak accident
- Samsung Q3 operating profits soar to $6.6 bn, miss forecast
- Dodgers star Ohtani 'honored' by maiden World Series win
- Yankees manager says Dodgers defeat will 'sting forever'
- UK treads fine line on slavery legacy, while ruling out reparations
- German president visits Greek village gutted by Nazi forces
- Asian stocks uneven after shaky Wall Street lead
RIO | -1.73% | 64.78 | $ | |
CMSC | 0.36% | 24.68 | $ | |
NGG | -2.25% | 63.64 | $ | |
SCS | -0.12% | 12.215 | $ | |
RYCEF | -5.38% | 6.88 | $ | |
BCC | 0.23% | 134.68 | $ | |
GSK | -1.68% | 36.4 | $ | |
BCE | 0.02% | 32.245 | $ | |
RBGPF | -0.13% | 60.92 | $ | |
BTI | 0.95% | 34.688 | $ | |
BP | 0.15% | 29.065 | $ | |
JRI | -0.09% | 13.038 | $ | |
CMSD | -0.08% | 24.81 | $ | |
VOD | -1.62% | 9.24 | $ | |
RELX | -1.5% | 46.215 | $ | |
AZN | -2.22% | 71.25 | $ |
Global stocks slide on US election, tech worries
Global stocks slid Thursday as investors digested disappointing tech results and remained risk-adverse ahead of a coin-toss US election.
Data showing the US Federal Reserve's preferred inflation measure cooled further last month and now sits just above its long-term target -- a positive sign for future interest-rate cuts -- failed to boost sentiment.
Microsoft and Facebook-parent Meta reported expectations-beating results Wednesday following the closing bell, but saw their share prices fall.
"Both Microsoft and Meta topped earnings expectations, yet the stocks are being victimized by high expectations, valuation angst, and festering concerns about the timing and scope of returns on their massive AI investment activity," said Briefing.com analyst Patrick O'Hare.
Microsoft shares fell five percent after the opening bell. Meta shares slid 1.6 percent.
"The response to their reports has tempered investor enthusiasm for the reports from Apple and Amazon.com after today's close," he added.
Wall Street's three main indices slid at the start of trading, with O'Hare also pointing to an increase in US government bond yields as also weighing upon equities.
Stephen Innes of SPI Asset Management said traders were "wary of taking on new risk as the US election countdown begins".
Uncertainty over the outcome of the upcoming US elections, meanwhile, buoyed safe haven gold, which touched a fresh high of $2,790.10 an ounce on Thursday.
In Europe, both Frankfurt and Paris were lower after official data showed the eurozone's annual inflation rebounded more than expected in October due to rising food costs.
Shares in French bank Societe Generale jumped over 10 percent after it reported better-than-expected results.
Meanwhile its rival BNP Paribas saw its shares slump over four percent after results fell short of expectations.
London shed 0.8 percent after the new centre-left government unveiled major tax hikes, mainly targeted at businesses, in its maiden budget.
"This was one of the largest increases in tax, spending and borrowing in the UK’s budget history", said Kathleen Brooks, research director at traders XTB.
"For a government that planned to boost growth, they have fallen spectacularly at the first hurdle," she added.
Tokyo fell by half a percent, weighed down by a stronger yen and a drop in stocks linked to the semiconductor industry, which also dipped on Wall Street.
The Bank of Japan decided to leave its main interest rate unchanged, saying in an outlook report that there were "high uncertainties surrounding Japan's economic activities and prices".
Mainland Chinese markets, however, made healthy gains following a forecast-beating manufacturing report -- in a piece of rare good news for leaders struggling to boost activity in the world's second-largest economy.
Oil prices continued their rebound, fuelled by good news on demand from the United States, as well as by press reports that OPEC countries are considering postponing an increase in crude supply.
- Key figures around 1330 GMT -
New York - Dow: DOWN 0.8 percent at 41,938.08 points
New York - S&P 500: DOWN 0.8 percent at 5,768.215
New York - Nasdaq Composite: DOWN 1.8 percent at 18263.77
London - FTSE 100: DOWN 0.8 percent at 8,092.36
Paris - CAC 40: DOWN 0.7 percent at 7,376.98
Frankfurt - DAX: DOWN 0.5 percent at 19,171.51
Tokyo - Nikkei 225: DOWN 0.5 percent at 39,081.25 (close)
Hong Kong - Hang Seng Index: DOWN 0.3 percent at 20,317.33 (close)
Shanghai - Composite: UP 0.4 percent at 3,279.82 (close)
Euro/dollar: UP at $1.0883 from $1.0861 on Wednesday
Pound/dollar: UP at $1.2989 from $1.2969
Dollar/yen: DOWN at 152.69 yen from 153.35 yen
Euro/pound: UP at 83.80 from 83.75 pence
Brent North Sea Crude: UP 1.2 percent at $72.99 per barrel
West Texas Intermediate: UP 1.3 percent at $69.47 per barrel
burs-rl/cw
C.Amaral--PC