Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Europe shares fall, Wall St pauses as Evergrande fears hover; U.S. yields rise

EconomySep 24, 2021 04:26PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
2/2 © Reuters. FILE PHOTO: A man wearing a protective mask, amid the COVID-19 outbreak, is reflected on an electronic board displaying stock prices outside a brokerage in Tokyo, Japan, September 21, 2021. REUTERS/Kim Kyung-Hoon 2/2

By Lewis Krauskopf and Tommy Wilkes

NEW YORK/LONDON (Reuters) - European equity markets fell on Friday and major U.S. indexes were little changed as worries over fallout from debt-laden China Evergrande persisted, while U.S. bond yields pushed higher after hawkish stances from central banks.

MSCI's gauge of stocks across the globe shed 0.20% after three days of gains, leaving it little changed for the week.

Concern over whether distress at Evergrande could spill into the broader economy has hovered over markets this week. Evergrande's electric car unit warned it faced an uncertain future unless it got a swift injection of cash, the clearest sign yet that the property developer's liquidity crisis is worsening in other parts of its business.

“You look back on this week and there is a lot for global markets to digest,” said Matthew Miskin, co-chief investment strategist at John Hancock Investment Management.

“There is still not clarity on how China will address the cracks in their credit markets.”

On Wall Street, the Dow Jones Industrial Average fell 4.97 points, or 0.01%, to 34,759.85, the S&P 500 gained 1.89 points, or 0.04%, to 4,450.87 and the Nasdaq Composite dropped 22.91 points, or 0.15%, to 15,029.34.

Gains in S&P 500 cyclical sectors such as financials and energy countered declines for the tech and healthcare groups.

The pan-European STOXX 600 index lost 0.90% as weak German business confidence data also weighed.

"Some of the hesitancy in European markets could also be put down to the German elections, which promise to be the most interesting in some time," said Chris Beauchamp, chief market analyst at IG.

Investors were also assessing a busy week of central bank meetings around the world, including arguably more hawkish stances from the U.S. Federal Reserve, as well as from policymakers in Britain and Norway.

Yields on benchmark U.S. 10-year Treasury notes hit their highest level since July 2. The notes fell 13/32 in price to yield 1.4526%, from 1.41% late on Thursday.

"A week of central bank action has shown us that policymakers are ready to move toward reining in on loose monetary policies introduced during the pandemic," ING analysts wrote in a note to clients.

The dollar index rose 0.22% and was on track for a third straight week of gains, with the euro down 0.19% to $1.1714. The Japanese yen weakened 0.39% versus the greenback at 110.75 per dollar.

Oil prices rose, with Brent up to a near three-year high, supported by global output disruptions and inventory draws.

U.S. crude rose 0.93% to $73.98 per barrel and Brent was at $77.97, up 0.93% on the day.

Spot gold added 0.5% to $1,750.92 an ounce.

Europe shares fall, Wall St pauses as Evergrande fears hover; U.S. yields rise
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (7)
Darrell Peterson
Darrell Peterson Sep 24, 2021 1:02AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
On a more pleasant note 63 cargo container ships are doing figure eights outside the port of L.A . 1/3 of all imports call L.A. home .
Chris Sundo
Chris Sundo Sep 23, 2021 11:58PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
it's a bad sign when readers disbelieve the news. Maybe this news here is copied from somewhere else where that other author wrote a misleading article.
Chris Sundo
Chris Sundo Sep 23, 2021 11:56PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
FAKE NEWS , it seems. -- News SHOULD NEVER BE FAKE and never be made to intimidate anyone or never made to create an undertone of jitteriness. -- GIVE ME ONE GOOD REASON WHY trade should be jittery related to EG !! Who in Asia is hurt by EG other than the China construction market which is highly regulated by China
Jouni Matero
Jouni Sep 23, 2021 11:56PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Sounds like you have no understanding to market, at all.
Fong SH
Fong SH Sep 23, 2021 11:50PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
LOL seems everyone outside China is so worry about Evergrande verdict? This company's event is not even linked to the outside world at all. Oh come on, please don't be smart to predict, comment on how the CCP handle their country's domestic problems. It's not like foreigners, outsiders are buyers or owners of properties in China, no way, foreigners can't buy them, even Hong Kong citizens, famous for ramping up properties prices worldwide lol. That's their hobby. China's citizens same hobby too, buying property is like their daily bread, this balloon is a self creation troubles, no pitiness, no mercy. Bear for awhile, it will be over soon as approaching China's national day. Cheers
EDWARD YIP
EDWARD YIP Sep 23, 2021 11:50PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Well said! Jz ignore those opportunist that mongering fears every where to take advantage on dampened sentiment and short the markets for low entry cost. CCP will never let China failed and by all cost, CCP will make sure overall stability of the country and the wellbeing of the Chinese people.
Catholic Man
CatholicMan Sep 23, 2021 11:50PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
LOL
Mario tragik
Mario tragik Sep 23, 2021 11:36PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Nikkei up 2%, ok a jittery rally that is. lol these articles never age well.
aayush kumar
aayush kumar Sep 23, 2021 11:18PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
India market is volatile today
Yogesh Sharma
Yogesh Sharma Sep 23, 2021 11:13PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
All Asian markets are green and high, how are you seeing it as jittery ???
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email