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Stock Market News: Dow Slips
S&P 500 and Nasdaq Composite close in the red.
Last Updated:
April 17, 2024 at 7:51 PM EDT
11 days ago
Asian Stocks Retreat, European Markets Bounce Back
Stock markets in Asia retreated on Wednesday, following U.S. shares Tuesday after the Federal Reserve indicated interest rates may stay higher for longer.
Japan’s Nikkei declined 1.3%, while the Hang Seng in Hong Kong was flat on the day. Both of the indexes fell on Tuesday.
By contrast, European shares seemed to be bouncing back, in line with premarket moves for U.S. stocks. Germany’s DAX index was up 0.6%, and the U.K.’s FTSE 100 added 0.5%.
European stocks may have been helped by indications that central banks there may get ahead of the Fed with rate cuts. European Central Bank President Christine Lagarde said Tuesday that a move could come soon, and U.K. inflation data showed the headline rate falling.