You are currently viewing Global Stocks Sink on Soft China Data

Global Stocks Sink on Soft China Data

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WORLD HEADLINES – Global stocks fell on Tuesday as investors digested soft Chinese economic data and a lack of progress in U.S.-China trade talks, while a rise in U.S. borrowing costs supported the dollar.

STOCKS – Europe’s benchmark Stoxx 600 was 0.1 percent lower while Germany’s DAX shed 0.2 percent as first-quarter economic growth in the country came in lower than expected.

BONDS – The U.S. 10-year bond yield rose above the key level of 3 percent, sending borrowing costs higher in a number of other countries and supporting the dollar.

COMMODITIES – Oil prices were stable on Tuesday as ongoing production cuts by OPEC and looming U.S. sanctions against Iran threatened to tighten the market amid signs of ongoing strong demand.

CURRENCIES – Against a basket of six major currencies, the dollar index gained 0.18 percent.

ECONOMIC DATA – US Core Retail Sales and Empire State Manufacturing Index due at 8:30, FOMC Member Williams Speaks at 12:45 ET.

 

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