Overseas Trading: Global Stocks Slump as G-20 Fails to Inspire

Global stocks are mostly lower after the G-20 meetings failed to produce any coordinated stimulus plans

Feb 29, 2016 at 8:41 AM
facebook X logo linkedin


Stocks in Asia closed lower today, as the weekend's Group of 20 (G-20) meeting in Shanghai concluded without any major plans for coordinated global stimulus efforts. China's Shanghai Composite dipped nearly 5% in intraday trading as the yuan backpedaled to a three-week low, but pared its losses to close down 2.9%. Japan's Nikkei erased early gains to drop 1%, as a rising safe-haven bid for the yen weighed on exporters. Meanwhile, South Korea's Kospi shed 0.2%, while Hong Kong's Hang Seng gave up 1.3%.

European markets are also mostly lower at midday, pressured by post-G-20 disappointment. However, stocks have pared their losses after the People's Bank of China (PBOC) cut its reserve requirement ratio for lenders. At last check, London's FTSE 100 is down 0.2%, while France's CAC 40 is off 0.05%, and the German DAX is 1.1% lower.

160229OS


Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox.

 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!