HomeTop Global NewsStocks Waver Amid Chinese Economic Uncertainty

Stocks Waver Amid Chinese Economic Uncertainty

Asian, European, and U.S. stocks all declined on Wednesday morning as investors continued to express concern over China’s struggle to make a smooth post-pandemic economic recovery.

In the United States, futures on the S&P 500 and the Dow Jones Industrial Average both fell by 0.2%, while those on the Nasdaq 100 declined by 0.3%. European stocks faltered as well, with the pan-European Stoxx Europe 600 index heading towards its lowest close since March following a 0.2% decline.

The MSCI Asia Pacific Index plunged 1.3% after China reported its weakest purchasing managers’ index since December. Hong Kong’s Hang Seng Index slipped by 0.2%.

Commodities were also heavily affected, with copper extending its worst monthly loss over the past year and iron ore falling further below $100 per ton. This comes as China’s slowing manufacturing activities raise questions regarding demand.

The Bloomberg Spot Dollar Index rose 0.3%, with the euro falling 0.6% to $1.0671. The British pound fell 0.4% to $1.2363, while the offshore yuan fell 0.4% to 7.1221 per dollar.

PCE Inflation Report Threatens to Delay Fed Rate Cuts

Investors are bracing for the release of the Personal Consumption Expenditures (PCE) report on Thursday, with markets concerned that hotter-than-expected inflation data could further...

U.S. Futures Decline Ahead of Inflation Report

Futures on the New York Stock Exchange declined on Wednesday ahead of a crucial inflation report that is expected to provide insight into the...

Stocks Hold Steady Ahead of Inflation Report

U.S. equities remained largely muted on Tuesday after reaching all-time highs as investors awaited the release of a crucial inflation report. The PCE index,...