LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Global stocks edge higher after tech woes, losses loom for first quarter

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Thu, Mar 29, 2018
09:33 pm
Reuters
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

Riskier assets such as stocks steadied on Thursday, after a woeful week for giant technology companies, even as global equities careened towards their first quarterly drop in two years.

Stock indexes tracked by the 47-country MSCI index glided 0.61 percent higher, as trading opened in New York with Facebook Inc, Apple Inc, Google parent Alphabet Inc retaking the market`s leadership mantle.

On Wall Street, the Dow Jones Industrial Average rose 239.46 points, or 1 percent, to 24,087.88, the S&P 500 gained 25.23 points, or 0.97 percent, to 2,630.23 and the Nasdaq Composite added 68.75 points, or 0.99 percent, to 7,017.98.

Despite the equity gains, safe-haven bonds also advanced in price. The U.S. dollar weakened, stalling its sharp rise.

The turbulent start to 2018 in financial markets has brought an end to one of the longest quarterly bull runs, and there have been few places to hide.

Investors have faced the biggest ever rise in stock volatility, rapidly escalating tensions over global trade, deepening turmoil in the White House and major wobbles in the tech sector.

A "melt-up" that sent the MSCI`s world share index up 8 percent in January suddenly melted away. Now, the Dow Jones, S&P 500, FTSE, Nikkei and scores of other major indexes are all down for the year.

"We have got to make sure (the market selloff) ...is not too prolonged because the longer this goes, the higher the chance it will start to affect the man in the street," said Roger Jones, the head of equities at London & Capital.

Facebook, Apple and some of their peers were hurt this quarter as investors rethought high U.S. stock valuations in light of the prospect of a U.S.-China trade war and potentially increased regulation of tech companies.

Reuters` monthly markets poll showed the trade war and tech sector worries have spooked global investors into cutting their equity exposure to a four-month low and holdings of U.S. stocks to the lowest in nearly two years.

Benchmark 10-year U.S. Treasury notes last rose in price to yield 2.7534 percent, from 2.775 percent late on Wednesday. That pushed the gap between U.S. short- and long-dated Treasuries to its tightest level in a decade. Some investors see a narrowing between those bonds` yields as a sign the economy will sputter.

For currency traders, the dollar settled too after a stronger-than-expected revision to U.S. fourth quarter economic growth data and hopes a nuclear standoff with North Korea has been averted gave it its largest daily gain in nearly seven months on Wednesday. An index of the greenback against its trading partners rose 0.08 percent.

A 45-year low in jobless claims helped the tentative return of risk appetite, and U.S. inflation data also cooled safety plays including Treasuries and German Bunds.

Oil managed a rebound despite data on Wednesday that showed a surprise build in U.S. crude stockpiles. U.S. crude rose 0.62 percent to $64.78 per barrel and Brent was last at $69.11, up 0.51 percent on the day.

In Asia, Japan`s Nikkei rose 0.6 percent, while Shanghai closed up 1.2 percent and Hong Kong`s Hang Seng recovered from an early wobble to add 0.3 percent.

Many markets across Europe and the Americas will be closed on Friday in observance of Good Friday, and some markets will also be closed on Monday.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

LATEST NEWS

Easy Trip Planners IPO: Issue Details highlighted by ICICI Securities

GAIL share price: ICICI Securities maintains buy rating with target price of Rs 164

NEET 2021 exam: Students don't miss to check the latest update on exam dates, eligibility criteria, registration process and all you need to know before appearing in the exam!

Stocks in Focus on March 8: Easy Trip planners IPO, Adani Ports, BEML to Religare; here are the 5 Newsmakers of the Day

Meghan accuses British royals of racism, says they pushed her to brink of suicide

Petrol price near Rs 100? Forget that, here is something that will give you 100-km for only Rs 7

LIVE: JEE Main Result 2021 February - To be declared, announced today? Answer Key PDF Download, Date, Time, NTA Link jeemain.nta.nic.in, Check Latest Updates

Listing facilitation! Ahead of LIC IPO, authorised capital boost of Rs 25,000 crores - All you need to know

Quotes: Meghan and Harry on racism in UK royal family, suicidal thoughts and walking away

Send best WhatsApp wishes, quotes, messages to your loved ones on International Women's Day 2021

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved