Overseas Trading: Global Stocks Slump as Greenback Gains Ground

Global stocks are in the red as a strong U.S. dollar weighs on commodities

May 4, 2016 at 8:41 AM

Asian stocks finished lower today, following Tuesday's sell-off on Wall Street -- as a strengthening greenback put pressure on dollar-denominated crude oil. Mining and energy stocks saw especially deep losses. For the day, China's Shanghai Composite shed 0.1%, Hong Kong's Hang Seng dropped 0.7%, and South Korea's Kospi gave up 0.5%. Markets in Japan remained shuttered for holiday.

Earnings are in focus in Europe today, with U.K.-based supermarket chain J Sainsbury tumbling in the wake of its results. Elsewhere, mining stocks are selling off, after BHP Billiton got slapped with a $44 billion civil lawsuit by Brazilian prosecutors. Meanwhile, the rising U.S. dollar is weighing on commodity stocks, as well. At last check, London's FTSE 100 is off 1.2%, while France's CAC 40 and the German DAX have shed 0.7% each.

overseas stocks may 4

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