Stock market today: Global shares dip on economy worries
CTV
Global shares were mostly lower Wednesday as worries about the global economy flared after a tumble on Wall Street despite some better-than-expected earnings reports.
Global shares were mostly lower Wednesday as worries about the global economy flared after a tumble on Wall Street despite some better-than-expected earnings reports.
France's CAC 40 lost 0.6% in early trading to 7,489.17, while Germany's DAX declined 0.5% to 15,799.39. Britain's FTSE 100 dipped 0.3% to 7,869.14. But U.S. shares were set to drift higher with Dow futures up 0.1% at 7,869.14. S&P 500 futures rose 0.4% to 4,109.75.
Oil prices rose.
"From a banking crisis still hovering just beneath the surface to the realization Russia has long-range missiles that are incredibly accurate that no one has the capacity to stop, to the sharply higher China-U.S. tensions, more sanctions against both Russia and China, and the likely further unravelling of global trade and the reemergence of higher inflation, risks are huge," Clifford Bennett, chief economist at ACY Securities, said in a commentary.
"None of this a pretty picture paints. Yet this is the reality of the current moment," he said.
In Asian trading, Japan's benchmark Nikkei 225 shed 0.7% to finish at 28,416.47. Australia's S&P/ASX 200 slipped nearly 0.1% to 7,316.30. South Korea's Kospi edged down 0.2% to 2,484.83. Hong Kong's Hang Seng gained 0.7% to 19,757.27, while the Shanghai Composite was little changed at 3,264.10.
Japanese automaker Honda Motor Co.'s shares fell 0.7% after the company announced plans to step up its shift to electric vehicles.
