Investing.com – European stocks were down for a second day on Wednesday, with miners leading markets lower amid signs that global growth is slowing, while U.S. futures indices also pointed to a lower open.
During European morning trade, the EURO STOXX 50 fell 1.23%; France’s CAC 40 tumbled 1.31% while Germany's DAX fell 1.18%.
Late Tuesday, the Federal Reserve's Open Market Committee said that growth "has slowed in recent months," and warned "the pace of economic recovery is likely to be more modest in the near term than had been anticipated."
The bank also unveiled plans to boost the flagging U.S. economy by reinvesting funds from maturing mortgage bonds into government debt.
Meanwhile, data from China indicated a broad based easing of growth with producer price inflation and retail sales failing unexpectedly in July.
On the corporate front, shares in medical products company Nobel Biocare plunged 10.71% after reporting that second quarter net income fell 31% amid rising costs.
Elsewhere, shares in Bank of Ireland were down 0.24% after the lender said first-half net profit fell 66% due to lower net income and losses following the sale of risky assets to an Irish government bailout fund.
In London, the commodity heavy FTSE 100 lost 1.32% as shares in BHP Billiton, the world’s largest mining company fell 1.91% after copper prices declined by more than 1.0%. Meanwhile, shares in Rio Tinto fell 3.01%, while crude oil prices shed 0.59% to hit USD 79.67 a barrel.
The outlook for U.S. equity markets, meanwhile, was pessimistic: Dow Jones Industrial Average futures indicated a loss of 0.94%, S&P 500 futures pointed to a drop of 0.91% and Nasdaq 100 futures indicated a decrease of 1.20%.
Later in the day, the U.S. was to publish its trade balance as well as the federal budget balance.
During European morning trade, the EURO STOXX 50 fell 1.23%; France’s CAC 40 tumbled 1.31% while Germany's DAX fell 1.18%.
Late Tuesday, the Federal Reserve's Open Market Committee said that growth "has slowed in recent months," and warned "the pace of economic recovery is likely to be more modest in the near term than had been anticipated."
The bank also unveiled plans to boost the flagging U.S. economy by reinvesting funds from maturing mortgage bonds into government debt.
Meanwhile, data from China indicated a broad based easing of growth with producer price inflation and retail sales failing unexpectedly in July.
On the corporate front, shares in medical products company Nobel Biocare plunged 10.71% after reporting that second quarter net income fell 31% amid rising costs.
Elsewhere, shares in Bank of Ireland were down 0.24% after the lender said first-half net profit fell 66% due to lower net income and losses following the sale of risky assets to an Irish government bailout fund.
In London, the commodity heavy FTSE 100 lost 1.32% as shares in BHP Billiton, the world’s largest mining company fell 1.91% after copper prices declined by more than 1.0%. Meanwhile, shares in Rio Tinto fell 3.01%, while crude oil prices shed 0.59% to hit USD 79.67 a barrel.
The outlook for U.S. equity markets, meanwhile, was pessimistic: Dow Jones Industrial Average futures indicated a loss of 0.94%, S&P 500 futures pointed to a drop of 0.91% and Nasdaq 100 futures indicated a decrease of 1.20%.
Later in the day, the U.S. was to publish its trade balance as well as the federal budget balance.