BusinessMarket

Sensex jumps 500 points, Nifty tops 17500

Stocks struggled to make headway on Wednesday, with the dollar clinging to losses and bonds clinging to gains as signs of a slowing U.S. labor market made investors jittery about the economic outlook

Global stock markets stumbled on Wednesday as signs that the economic outlook was weakening prompted caution, while a higher-than-expected interest rate hike from New Zealand lifted the Kiwi dollar.

European shares fell, with the broad STOXX 600 retreating from Tuesday’s one-month highs. U.S. stock futures fell and Japan’s Nikkei fell 1.6%, its biggest one-day percentage decline since mid-March.

MSCI’s world stock index further retreated from Tuesday’s near seven-week highs, while Asian trade was thinned by holidays in Hong Kong and China.

Weak U.S. economic data this week exacerbated recession fears and dented recent stock market gains.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
×