- As toll crosses 100, Trump puts Hurricane Helene at election center stage
- US Fed Chair sees 'further disinflation' in economy
- Epic Games sues Google and Samsung over app store
- Officials see no shortages from likely US port strike
- UK families of Gaza hostages warn Lebanon attack 'takes focus away'
- Shares in Stellantis, Aston Martin skid on profit warnings
- Dali prints found in London garage sold at auction
- ECB chief backs bank mergers amid UniCredit, Commerzbank talk
- China stocks soar on stimulus, but US and Europe retreat
- 100 dead in storm Helene damage, flooding across US southeast
- China stocks soar on stimulus, Europe slides on automaker woes
- German antitrust watchdog steps up monitoring of Microsoft
- Nepal's urban poor count cost of 'nightmare' floods
- E.Guinea, Gabon clash at ICJ over oil-rich islands
- New blow for UK's Starmer as growth data disappoints
- China's top banks to tweak mortgage rates to boost housing market
- Muslim women break taboos navigating east London's waterways
- Nepal dam-building spree powers electric vehicle boom
- More than 60 dead from storm Helene as rescue, cleanup efforts grow
- Dozens missing, 9 dead in migrant boat wreck off Spanish Canaries
- Death toll from Hurricane John hits eight in Mexico
- Storm Helene's toll rises as rescue and cleanup efforts gain pace
- SpaceX launches mission to return stranded astronauts
- Storm Helene kills 44, threatens more 'catastrophic' flooding as cleanup begins
- SpaceX set to launch mission to return stranded astronauts
- Storm Helene kills 44, threatens more 'catastrophic' flooding
- Boeing strike grinds on as latest talks fail to reach agreement
- Iran 'news' sites, hackers target Trump ahead of US election
- US ports brace for potential dockworkers strike
- Japan's speedy, spotless Shinkansen bullet trains turn 60
- US hurricane deaths rise to 44, fears of more 'catastrophic' flooding
- Global stocks mostly rise, cheering Beijing stimulus
- Europe en route for Moon with new simulator, says astronaut Pesquet
- Fireworks forecast if comet survives risky Sun flypast
- Argentina judge orders dictionary to delete pejorative definition of 'Jewish'
- Global stocks rise on rate hopes, Beijing stimulus
- S.African woman turns 118, among the oldest in the world
- UK clears $4 bn AI partnership between Amazon, Anthropic
- Barca fans barred from Champions League away game over racist banner
- Chinese stocks extend surge, Europe higher on Beijing stimulus
- Pope says Church must 'seek forgiveness' for child sexual abuse
- China caps week of 'bazooka' stimulus for ailing economy with rate cut
- Cuts, cash, credit: China bids to jumpstart flagging economy
- France's debt weighs heavier ahead of budget debate
- Iran treads carefully, backing Hezbollah while avoiding war
- Return to sender: waste stranded at sea stirs toxic dispute
- 'Broken' news industry faces uncertain future
- On remote Greek island, migratory birds offer climate clues
- Taken from mother by nuns, victim seeks answers as pope visits Belgium
- China cuts amount banks hold in reserve to boost lending
RBGPF | 7.18% | 64.75 | $ | |
BCC | -0.36% | 140.98 | $ | |
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CMSD | -1.21% | 24.78 | $ | |
VOD | -0.7% | 10.02 | $ | |
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JRI | 0.66% | 13.67 | $ | |
RELX | -0.21% | 47.46 | $ | |
AZN | 0.37% | 77.91 | $ | |
BTI | -0.71% | 36.58 | $ | |
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BCE | -1.12% | 34.8 | $ | |
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Asian markets drop after Wall Street retreat
Asian markets dipped in early trade Friday after a negative lead from Wall Street, with investors around the world worried about surging inflation.
Central banks in several major economies including the United States, Canada and Britain have already started raising interest rates to contain prices, but the European Central Bank on Thursday kept its stimulus plans and rates unchanged.
That sent the euro plunging to a near two-year low, but eurozone stocks were boosted, but Wall Street retreated ahead of the Easter holidays.
The mood was subdued in Asia too, where only a handful of markets were open on Good Friday.
The Nikkei 225 slid 0.7 percent with Wall Street's woes depressing sentiment.
The Tokyo market is likely to be "dominated by sell orders as investors are disheartened by falls in US shares," Mizuho Securities said in a note.
Shanghai dropped 0.2 percent.
Russia's invasion of Ukraine has added to the uncertainty about the global economic recovery from the Covid-19 pandemic.
This was reflected in statements from major banking executives in the United States, who described the American economy as solid but warned about the impact of the Ukraine conflict and the measures central banks such as the US Federal Reserve will take to control inflation.
"We don't think there's going to be a recession," Julian Emanuel, chief equity strategist at Evercore ISI, told Bloomberg television.
"We don't think the Fed is going to break the glass. But the problem is investors aren't in that mindset quite yet."
- Energy, food shocks -
Russia is a major global oil and gas supplier, and -- along with Ukraine -- is also a key player in the grain sector.
The conflict has shaken markets for these commodities, and the impact has been felt from the Middle East to South America.
In Yemen, there are fears of food shortages with the war-ravaged nation already on the edge of famine.
In Argentina, a strike by grain transporters has paralysed farming exports -- haulers are unhappy with the rates they are paid, pointing to the spike in fuel prices because of the Ukraine crisis.
The war has sent oil prices soaring, with reports swirling about further energy sanctions on Russia.
Both main contracts sat above the $100 per barrel mark.
"There are no surprises here as oil continues to march higher, with global supply shortage outweighing concerns about slower demand in China," Stephen Innes of SPI Asset Management said in a note.
- Key figures around 0320 GMT -
Tokyo - Nikkei 225: DOWN 0.7 percent at 26,995.86
Shanghai - Composite: DOWN 0.6 percent at 3,204.96
Hong Kong - Hang Seng Index: Closed for a holiday
Euro/dollar: DOWN at $1.0801 from $1.0832 at 2100 GMT
Pound/dollar: DOWN at $1.3063 from $1.3076
Euro/pound: DOWN at 82.67 from 82.77 pence
Dollar/yen: UP at 126.39 from 125.87 at 2100 GMT
Brent North Sea crude: UP 2.7 percent at $111.70 per barrel
West Texas Intermediate: UP 2.6 percent at $106.95 per barrel
New York - Dow: DOWN 0.3 percent at 34,451.23 (close)
London - FTSE 100: UP 0.5 percent at 7,616.38 (close)
-- Bloomberg News contributed to this story --
H.Müller--CPN