Overseas Trading: Fed Outlook Stings Europe, China

The Fed's uncertain view of the U.S. economy has global stock markets mostly lower

Jan 28, 2016 at 8:45 AM
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China stocks sold off once again, as the Federal Reserve's cautious note for U.S. economic growth dragged down shares. The Shanghai Composite dropped another 2.9% -- its third straight loss -- to settle at its lowest point since November 2014, despite another hefty cash infusion by the People's Bank of China (PBOC). Japan's Nikkei also ended lower, slipping 0.7% following a report that showed retail sales fell 1.1% last month. However, Hong Kong's Hang Seng managed an 0.8% advance, with South Korea's Kospi also closing higher, gaining 0.5%.

The scene's bleaker in Europe. Indices are lower across the board due to the Fed's uncertain language and another batch of lackluster earnings, though rising crude futures are providing some level of relief. Traders also absorbed a fourth-quarter gross domestic product (GDP) estimate from the U.K. that matched forecasts. Germany's DAX was off 1.4% at last check, with France's CAC 40 down 1%, and London's FTSE 100 0.7% below breakeven. 


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