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
facebook twitter linkedin

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

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.

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 


300x250 - Banner 3 - v1