Stock market today: Global stocks mixed on concern about U.S. economy weakening
CTV
Global stock markets were mixed Tuesday after a report that showed growth in service industries is slowing stoked concern the U.S. economy is weakening.
Global stock markets were mixed Tuesday after a report that showed growth in service industries is slowing stoked concern the U.S. economy is weakening.
London, Shanghai, Paris and Hong Kong retreated. Tokyo gained and Wall Street futures were mixed. Oil prices declined more than $1 per barrel.
Wall Street's benchmark S&P 500 index lost 0.2% on Monday after an industry group's May index of activity in construction, hospitality and other services fell to a three-year low. That conflicted with hopes raised by data last week that showed unexpectedly strong hiring, suggesting a potential U.S. recession brought on by interest rate hikes might be farther away.
"Weakness is emerging and that should be more noticeable in the coming months," Edward Moya of Oanda said in a report.
In early trading, the FTSE 100 in London was off less than 0.1% at 7,594.30. The CAC 40 in Paris was up less than 0.1% at 7,201.48 and the DAX in Frankfurt was up less than 0.1% at 15,975.26.
On Wall Street, futures for the S&P 500 and the Dow Jones Industrial Average were little-changed.
In Asia, the Shanghai Composite Index fell 1.2% to 3,195.34 and the Hang Seng in Hong Kong shed 0.2% to 19,072.42.