ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2023
  • Adani Saga
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » World News

Global Markets: Wall Street falls on poor economic outlook; oil, gold slip

Signs of positive developments in US-Sino trade talks and a possible Brexit compromise between Britain and the European Union spurred selling of US and core European government debt, pushing their yields higher.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Global Markets: Wall Street falls on poor economic outlook; oil, gold slip
The grim economic data was offset by signs of progress in trade talks between Beijing and Washington. Image source: Reuters

Wall Street stocks fell on Thursday due to a deteriorating economic outlook that was only partially offset by signs of trade progress between China and the United States, while gold and oil prices retreated from their recent peaks. The dollar held steady against most major currencies, while the Australian dollar tumbled on jitters about a ban on that country`s coal by a key Chinese port. 

Signs of positive developments in US-Sino trade talks and a possible Brexit compromise between Britain and the European Union spurred selling of US and core European government debt, pushing their yields higher.

The US Commerce Department said on Thursday domestic orders for non-defence capital goods excluding aircraft, a closely watched proxy for business spending plans, dropped 0.7 percent.

Moreover, the U.S. Mid-Atlantic factory sector fell into contraction territory in February for the first time since May 2016, data from the Philadelphia Federal Reserve showed.

"Mainly it`s about the bad economic reports and intensifying recession fears," said Jim Paulsen, chief investment strategist at The Leuthold Group in Minneapolis.

The grim economic data was offset by signs of progress in trade talks between Beijing and Washington.

The world`s two biggest economies have started to outline commitments in principle on the most contentious issues in their trade dispute, marking the most significant progress yet toward ending a seven-month trade war, according to sources familiar with the negotiations.

The Dow Jones Industrial Average fell 103.81 points, or 0.4 percent, to 25,850.63, the S&P 500 lost 10.42 points, or 0.37 percent, to 2,774.28 and the Nasdaq Composite dropped 30.01 points, or 0.4 percent, to 7,459.06.

The pan-European STOXX 600 index lost 0.28 percent and MSCI`s gauge of stocks across the globe gained 0.47 percent.

The benchmark 10-year Treasury yield was up over 3 basis points at 2.686 percent, while the German 10-year Bund yield rose 3 basis points to 0.13 percent.

Safe-haven demand for bonds cooled a bit as diplomats said Britain and the EU were moving closer to a legal compromise that Prime Minister Theresa May hopes will gain approval from the British parliament. 

In the currency market, an index that tracks the dollar against a basket of currencies rose nearly 0.2 percent, while the Aussie dollar was down 1 percent at $0.7092.

China`s northern Dalian port has put an indefinite ban on coal imports from Australia since the start of February, a port official told Reuters on Thursday.

In the commodity market, crude prices pulled back from their highest levels of 2019 on hopes that oil supplies will balance later this year. 

US crude settled down 20 cents or 0.35 percent at $56.96 a barrel after hitting a 2019 high of $57.55 the previous day. Brent futures ended down 1 cent at $67.07, below a 2019 peak of $67.38. 

Watch this Zee Business video

Spot gold prices were down 1.17 percent at $1,322.81 having scaled a 10-month peak of $1,346.70 on Wednesday.

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:
NYSEWall StreetUnites States
Written By: Reuters
Updated: Fri, Feb 22, 2019
07:42 am
Washington, Reuters
RELATED NEWS
Vedanta says decision to delist American depositary shares from NYSE aimed at simplification Vedanta says decision to delist American depositary shares from NYSE aimed at simplification
U-turn from NYSE - Plan to DELIST 3 Chinese telecom firms SCRAPPED; Bourse planned to delist China Mobile, China Telecom and China Unicom  before 11 January U-turn from NYSE - Plan to DELIST 3 Chinese telecom firms SCRAPPED; Bourse planned to delist China Mobile, China Telecom and China Unicom before 11 January
US equities post modest weekly gains amid Fed minutes, mixed data US equities post modest weekly gains amid Fed minutes, mixed data
US stocks close mixed following jobs data US stocks close mixed following jobs data
US equities post weekly gains as traders weigh COVID impact US equities post weekly gains as traders weigh COVID impact

LATEST NEWS

ITC Dividend 2023: Check record date, ex-date and payment date | ITC Share Price NSE Target

Hindenburg Effect: Axis Bank says exposure to Adani Group is nearly 1% of total loans

Sidharth Malhotra and Kiara Advani wedding: Did Bollywood couple sell their marriage film rights to THIS streaming platform?

Explained: What is Chinese spy balloon that was shot down by US Air Force - Check Video

Global bond indices not exclusive club or gymkhana; India will get into it on own terms: Top Govt Official

BMC Budget 2023: Mumbai civic body increases its budget for 2023-24 by 15% to Rs 52,619 crore – know key highlights

Apple CEO Tim Cook says India is ‘hugely exciting market’; confirms about opening retail store in the country

Market Next Week: Tata Steel, Hero Moto, M&M results, RBI policy meeting, macro data, global cues among top cues for D-Street

JBM Group to foray into electric bus markets of THESE 6 states - check list here

Pathaan Box Office Collection: Shah Rukh Khan-starrer raises Rs 729 crore worldwide - Check domestic collection after Day 10| OTT release date here

  • 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
© 2023. India Dot Com Private Limited. All Rights Reserved.
LIVE TV