Asian markets are down today on worse than expected Chinese non manufacturing PMI data and anxiety over a possible global slowdown. Keep in mind, Chinese and many other markets are still closed due to the lunar new year. Thus, most of the movement happened in the Nikkei, which shed roughly 10% from its December 30th high. Furthermore, it seems that Asian indices may be starting to experience negative market corrections due to previous unrestrained growth last year. The Nikkei closed down 1.98%, and the ASX 200 closed down 0.04%.
European markets are not faring much better despite better than expected data coming from Euro Area nations. Spain, France, and Germany all showed manufacturing expansions. However, Lloyd’s of London dragged financial equities down after it announce it was setting aside money to compensate customers for mis-sold policies. Also, bad US manufacturing data caused investors to worry about the health of one of Europe’s primary export markets. Thus, the Stoxx 50 declined 1.66%, the FTSE declined 0.69%, and the DAX declined 1.29%.
American markets are also doing poorly. An actual rating of 51.3 on the ISM Manufacturing PMI as opposed to an expected rating of 56.4 indicates that the manufacturing sector is growing slower than expected, which has made investors pessimistic. At the moment, US indices are continueing down on this negative sentiment. The Dow is down 1.65%, the S&P 500 is down 1.97%, and the Nasdaq is down 2.55%.
February 3, 2014 – Indices News
Asian markets are down today on worse than expected Chinese non manufacturing PMI data and anxiety over a possible global slowdown. Keep in mind, Chinese and many other markets are still closed due to the lunar new year. Thus, most of the movement happened in the Nikkei, which shed roughly 10% from its December 30th high. Furthermore, it seems that Asian indices may be starting to experience negative market corrections due to previous unrestrained growth last year. The Nikkei closed down 1.98%, and the ASX 200 closed down 0.04%.
European markets are not faring much better despite better than expected data coming from Euro Area nations. Spain, France, and Germany all showed manufacturing expansions. However, Lloyd’s of London dragged financial equities down after it announce it was setting aside money to compensate customers for mis-sold policies. Also, bad US manufacturing data caused investors to worry about the health of one of Europe’s primary export markets. Thus, the Stoxx 50 declined 1.66%, the FTSE declined 0.69%, and the DAX declined 1.29%.
American markets are also doing poorly. An actual rating of 51.3 on the ISM Manufacturing PMI as opposed to an expected rating of 56.4 indicates that the manufacturing sector is growing slower than expected, which has made investors pessimistic. At the moment, US indices are continueing down on this negative sentiment. The Dow is down 1.65%, the S&P 500 is down 1.97%, and the Nasdaq is down 2.55%.
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