Stock market today: Global stocks mixed after strong US factory data prompt Wall St retreat
Asian shares are mixed after Wall Street retreated as surprisingly strong U.S. manufacturing data cast doubts over how soon the Federal Reserve might cut interest rates
HONG KONG — Global stocks were mixed on Tuesday after Wall Street retreated as surprisingly strong U.S. manufacturing data cast doubts over how soon the Federal Reserve might cut interest rates.
European markets opened mostly higher, but Germany’s DAX then slipped, losing 0.1% to 18,525.79. In Paris, the CAC 40 was flat at 8,206.00. In London, the FTSE 100 was up 0.3% at 7,976.39.
The future for the S&P 500 was less than 0.1% lower and that for the Dow Jones Industrial Average dropped 0.3%.
In Asian trading, Hong Kong gained 2.4% to 16,931.52. The Shanghai Composite index edged 0.1% lower to 3,074.96.
China real estate developer Vanke’s Hong Kong-listed shares slumped 12.9% after it reported last week that its 2023 core profit sank 50.6% from a year earlier. In a rare case of intervention, in March state banks were tapped to provide financial support for Vanke.
Tokyo's Nikkei 225 closed 0.1% higher at 39,838.91.
Elsewhere in Asia, South Korea's Kospi rose 0.2% to 2,753.16, after data showed the country’s consumer prices rose 3.1% in March compared to the same period last year, matching the previous month’s pace.
The S&P/ASX 200 in Australia gave up 0.1% to 7,887.90 after the country’s manufacturing sector index contracted to 47.3 in March from 47.8 in February, which is at the fastest pace since May 2020.
On Monday, the S&P 500 dipped 0.2% from its all-time high to finish at 5,243.77. The Dow Jones Industrial Average dropped 0.6%, from its record to 39,566.85. The Nasdaq composite was an outlier and added 0.1% to 16,396.83.
Treasury yields spurted
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