World markets today: US stocks fall, FedEx shares tumble
Global markets: US stocks opened lower on Wednesday as investors took a breather from a rally sparked by the rate cut hopes. The Dow Jones Industrial Average fell 37.79 points, or 0.10%, at the open to 37,520.13. The S&P 500 opened lower by 3.64 points, or 0.08%, at 4,764.73.
The Nasdaq Composite dropped 29.86 points, or 0.20%, to 14,973.36 at the opening bell. Before the opening bell, futures for the S&P 500 and the Dow Jones industrials each slipped about 0.2%. Shares of FedEx tumbled 11% in off-hours trading after it missed second quarter sales and profit forecasts.
On Tuesday, all the three US stock indices climbed more than 0.5%. The Dow Jones Industrial Average rose 251.9 points, or 0.68%, to 37,557.92, the S&P 500 gained 27.81 points, or 0.59%, to 4,768.37 and the Nasdaq Composite added 98.03 points, or 0.66%, to 15,003.22. European stock markets wavered on Wednesday.
Britain’s FTSE 100 surged 0.6% at 7,682.21 points. France’s CAC 40 rose 0.1% at 7,579.63. Germany’s DAX edged down 0.1% at 16,735.17.
Asian stocks mostly rallied on Wednesday. Hong Kong’s Hang Seng Index edged up 0.7% at 16,613.81. China’s Shanghai Composite fell 1% at 2,902.11.
Japan's Nikkei 225 rose 1.4% at 33,675.94. South Korea’s Kospi was 1.8% higher to 2,614.30. Australia’s S&P/ASX 200 gained 0.7% to 7,537.90.
Oil prices gained on Wednesday amid tensions over global trade disruption due to attacks on vessels by Yemen's Iran-aligned Houthi rebels in the Red Sea. Brent crude futures rose 81 cents, or 1%, at $80.04 a barrel by 1327 GMT, while the US West Texas Intermediate crude climbed 87 cents, or 1.2%, to $74.81 a barrel. On Tuesday, the United States had launched a task force to safeguard commerce in the region.
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