U.S. Stock Plunge Weighs on Global Markets
April 29 2016 - 4:50AM
Dow Jones News
Global stocks were mostly lower on the last trading day of the
month, as a late-day selloff in U.S. tech shares reverberated
overseas.
The Stoxx Europe 600 fell 1.2% in early trade Friday, following
weak sessions on Wall Street and in Asia.
The Dow Jones Industrial Average suffered its biggest drop since
February on Thursday, after investor Carl Icahn said he no longer
has a stake in Apple, sending tech shares sharply lower. After
markets closed, however Amazon.com Inc. reported its most
profitable quarter ever, sending shares in the company up more than
12% in after-hours trading.
Downbeat earnings reports from the travel and leisure sector
also weighed on European bourses Friday. Shares in International
Consolidated Airlines Group SA fell 4% after the British Airways
parent company cut its growth target.
In currencies, the dollar continued to fall following weak U.S.
first-quarter growth figures. The euro was last up 0.5% against the
dollar at $1.1408, as investors waited for eurozone growth and
inflation data due later in the session. The Chinese yuan was fixed
more than half a percent higher against the dollar, its biggest
daily increase since the currency was depegged from the greenback
in 2005. The dollar fell 0.9% against the yen to ¥ 107.1610,
weighed by continued disappointment over the Bank of Japan's
decision to leave its monetary policy unchanged on Thursday.
Stock markets in Hong Kong and Shanghai also fell Friday, while
markets in Japan were closed for a holiday.
Write to Riva Gold at riva.gold@wsj.com
(END) Dow Jones Newswires
April 29, 2016 04:35 ET (08:35 GMT)
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