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.

Warren Buffett to Step Down as Berkshire Hathaway CEO at the End of 2025

Warren Buffett is ready to step down as the CEO of multinational conglomerate Berkshire Hathaway. Buffet announced his decision while speaking at the company’s...

Microsoft Stock Soars on Better-Than-Expected Q3 Earnings

Microsoft reported better-than-expected third-quarter earnings on Wednesday, which caused the company's stock to soar by more than 8% in after-hours trading. Microsoft reported $3.46 in...

Gold Continues to Drop From Record Highs, Dollar Ends Its Slide

After reaching fresh record highs at the beginning of last week, gold has been in the midst of a continuous drop. Meanwhile, the U.S....