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World Shares Mostly Retreat Friday 03/21 04:46
World markets retreated Friday after a lackluster session on Wall Street as
investors remained uneasy over policies of U.S. President Donald Trump.
HONG KONG (AP) -- World markets retreated Friday after a lackluster session
on Wall Street as investors remained uneasy over policies of U.S. President
Donald Trump.
The futures for the S&P 500 and the Dow Jones Industrial Average were 0.4%
lower.
In European trading, Germany's DAX slipped 0.7% to 22,848.55 ahead of a vote
by Germany lawmakers on a budget that will boost defense and infrastructure
spending. France's CAC 40 lost 0.6% to 8,046.61.
Britain's FTSE 100 shed 0.4% to 8,663.60 after the Bank of England held its
main interest rate steady a day earlier. The Federal Reserve, Bank of Japan and
China's central bank all kept their rates on hold, keeping their options open
while waiting to see what the coming weeks will bring in Trump's trade war and
other policies.
In Asian trading, Chinese markets declined again, with the Hang Seng in Hong
Kong tumbling 2.2% to 23,689.72 after China kept its key lending rates
unchanged. Traders have been unloading technology shares following recent gains.
The Shanghai Composite index lost 1.3% to 3,364.83.
In Tokyo, the Nikkei 225 closed 0.2% lower to 37,677.06 as the markets
reopened after a holiday on Thursday. Japan reported its core inflation rate
fell less than forecast, partly boosted by a surge in rice prices due to a
shortage of supplies.
South Korea's Kospi picked up 0.2% to 2,643.13, while Australia's S&P/ASX
200 rose by 0.2%, closing at 7,931.20. In Taiwan, the Taiex lost 0.8%.
On Thursday, the S&P 500 slipped 0.2%, while the Dow Jones Industrial
Average dipped less than 0.1%. The Nasdaq composite fell 0.3%.
Wall Street has been on a weeks-long roller-coaster ride, as stock prices
gyrate on uncertainty about what Trump's trade war will do to the economy.
Stocks got a boost Wednesday after the head of the Federal Reserve said the
economy remains solid enough at the moment to leave interest rates where they
are.
More data arrived Thursday to support that view. One report said slightly
fewer U.S. workers filed for unemployment benefits last week than economists
expected.
A separate report said sales of previously occupied homes were stronger last
month than economists expected, while a third said manufacturing growth in the
mid-Atlantic region appears to be better than economists expected.
In other dealings early Friday, U.S. benchmark crude oil gained 8 cents to
$68.15 per barrel in electronic trading on the New York Mercantile Exchange.
Brent crude, the international standard, added 6 cents to $72.06 per barrel.
The U.S. dollar rose to 149.44 Japanese yen from 148.78 yen late Thursday.
The euro fell to $1.0838 from $1.0854.
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