· U.S. stock futures see volatile moves following sell-off on Wall Street
Stock futures fell during early morning trading on Thursday, building on Wednesday’s heavy losses that saw the S&P 500 tumble more than 2%.
Futures contracts tied to the Dow Jones Industrial Average fell back into negative territory and declined about 100 points. S&P 500 futures and Nasdaq 100 futures were also in negative territory.
The moves came in an uneven session. Earlier, futures opened Wednesday evening in the green, but comments from President Donald Trump that he would not commit to a peaceful transfer of power should he lose the election appeared to hit sentiment.
· Asian shares sink on fading global recovery hopes
Asian shares dropped on Thursday, set for their worst day in two months, as warnings from U.S. Federal Reserve officials underscored investor worries over the resilience of an economic recovery from the coronavirus pandemic.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS slumped 1.93% in the afternoon session on broad losses across the region, putting it on track for its biggest daily drop since July 16.
U.S. stocks fell on Wednesday after data showed business activity slowed in September, with gains at factories more than offset by a retreat at services industries.
Investors now await weekly data due later on Thursday, which is expected to show U.S. jobless claims fell slightly but remained elevated, indicating the world’s largest economy is far from recovering.
· Nikkei succumbs to global pressure as pandemic worries resurface
Japanese shares succumbed to broad selling pressure in global stocks on Thursday following worries about their high valuation, resurgent coronavirus infections and the spectre of a slowdown in budding economic recoveries worldwide.
Uncertainties over U.S. presidential elections added burden as President Donald Trump declined to commit to a peaceful transfer of power if he loses the Nov. 3 election.
Nikkei share average lost 1.11% to 23,087.82, falling below a key support from its 25-day average at 23,217 to its lowest finish in half a month.
The broader Topix lost 1.08% to 1,626.44, with cyclicals such as steelmakers and carmakers hit the most.
· China stocks track Wall Street fall to post biggest drop in two weeks
China shares ended lower on Thursday, after falling the most in more than two weeks, taking cues from an overnight slump on Wall Street on renewed concerns over a coronavirus-led slowdown in global economic recovery.
At the close, the Shanghai Composite index was down 1.72% at 3,223.18, while the blue-chip CSI300 index was down 1.92%, both posting their biggest one-day percentage drop since Sept 9.
· European markets pull back over concerns for the global economy
European stocks retreated Thursday as investors’ hopes for economic recovery following the coronavirus pandemic falter amid a second wave of cases.
The pan-European Stoxx 600 fell 1% in early trade, with travel and leisure stocks shedding 2% to lead losses as all sectors and major bourses slid into the red.
Coronavirus developments continue to weigh on investor sentiment as cases surge in Europe. The number of daily reported coronavirus cases in the U.K. has jumped by a quarter in the past day, according to the BBC. The U.K. reported 6,178 cases, up by 1,252 since Tuesday, as the country grapples with a surge this month. Meanwhile, two German government ministers, Heiko Maas and Peter Altmaier, are now in quarantine after close contacts received positive coronavirus tests.
Reference: Reuters, CNBC
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