Global markets update: US stocks slide on weak economic data
economic activity fell in June. According to revised figures from the HCOB Eurozone Composite purchasing managers' index, Eurozone economic activity fell to 49.9 points in June, just under the 50-point mark indicating zero growth. The EURO STOXX 50 index closed 0.9% lower, its worst session since end May.
The STOXX 600 dropped 0.7%. Britain’s FTSE 100 fell 1% at 7,442.10. Germany’s DAX shed 0.6% at 15,937.58.
France’s CAC 40 lost 0.8% at 7,310.81. Asia In Asia, stock markets fell on Wednesday on disappointing Chinese economic data. In China, the Caixin private survey of the services sector showed that activity slowed sharply in June at a much faster pace than expected.
Hong Kong’s Hang Seng index dropped 1.6% at 19,110.38. China’s Shanghai Composite lost 0.7% at 3,222.95. Japan’s Nikkei 225 fell 0.3% at 33,338.70.
Australia’s S&P/ASX 200 index closed 0.4% lower at 7,253.20. In New Zealand, the benchmark S&P/NZX 50 index advanced 0.2% to 12,002.46. US crude oil benchmark for August delivery rose $2 to $71.79 a barrel. Brent crude for September delivery rose 40 cents to $76.65 a barrel on Wednesday.
Natural gas for August delivery fell 5 cents to $2.66 per 1,000 cubic feet. Gold for August delivery fell $2.40 to $1,927.10 an ounce. Silver for September delivery rose 29 cents to $23.40 an ounce. Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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