Market Overview

Global Markets Slide On US-China Tensions, Brexit Concerns

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Global Markets Slide On US-China Tensions, Brexit Concerns

Major indices worldwide are trading in red on Friday, on COVID relief package delays, no-deal Brexit concerns, and souring U.S.-China relationship.

The Dow futures are down by 0.30%, and the S&P 500 futures are trading lower by 0.37% on the last check Friday. Brent crude futures are up by 0.36% to $50.43, while gold futures are down by 0.11% to $1,835.70. Ten-year Treasury yield is down by 1.3 bps to 0.895%, slipping below the 0.90% level.

Asia: Japan's Nikkei 225 fell 0.39% on Friday to post the first weekly loss in six weeks.

China's Shanghai Composite benchmark shed 0.77% on Friday to post the biggest weekly loss in 11 weeks.

Hong Kong's Hang Seng Index gained 0.36% today, but the index posted the biggest weekly loss in six weeks.

Australia's S&P/ASX 200 declined 0.61% but clocked gains for the sixth straight week.

India's Nifty 50 index is trading lower by 0.22% at press time. Forex reserves and industrial production data are due later today.

South Korea's KOSPI advanced 0.86% to gain for the sixth straight week.

Europe: Euro Stoxx 50 is trading lower by 1.10% at publication time after the European Central Bank kept the interest rates unchanged at 0%, kept deposit facility rate unchanged at -0.50%, and marginal lending facility rate at 0.25%.

London's FTSE 100 is down 0.80% at publication time on looming no-deal Brexit concerns. The National Institute of Economic and Social Research estimated the GDP at 1.5%. Bank of England's financial policy committee's report is due later today.

Germany's DAX is down by 0.93% on the last check Friday. The nation's consumer price index for November fell 0.8% month-over-month and 0.3% year-over-year.

France's CAC 40 is trading lower by 0.78%, driven by losses in technology shares. Spain's IBEX 35 has tanked 1.84% in Friday's trade. Spain's consumer price index for November fell 0.8% YoY but rose 0.2% MoM. 

Forex Trading: U.S. Dollar Index futures are up by 0.12% at 90.927. The dollar has gained 0.07% against the Euro to $1.2129, gained 0.48% against the Sterling Pound to $1.3229, but weakened 0.08% against the Japanese Yen to ¥104.12.

For news coverage in Italian or Spanish, check out Benzinga Italia and Benzinga España.

 

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