There's little appetite for stocks around the globe, ahead of the release of U.S. retail sales
Stocks in Asia closed lower today, weighed down by falling oil prices and uncertainty ahead of today's economic data out of the U.S. -- including
monthly retail sales. Japan's Nikkei snapped its
four-day winning streak with a 1.4% loss, pressured by a resurgent yen and a tough day for mining and materials stocks.
Elsewhere, China's Shanghai Composite dropped another 0.3% -- capping its fourth consecutive weekly loss, the longest streak in two years -- and Hong Kong's Hang Seng slid 1%. South Korea's Kospi rounded out the decliners with a 0.5% retreat, as the Bank of Korea left its monetary policy as is.
Stocks are mostly lower in Europe, too, after data revealed slower-than-expected first-quarter growth for the eurozone economy. A drop in crude oil prices is also hurting sentiment, as are heavy losses from automakers Volkswagen and BMW. London's FTSE 100 has lost 0.5% so far, and France's CAC 40 is down 0.4%. However, Germany's DAX is clinging to a 0.02% lead, after the country's strong first-quarter gross domestic product (GDP) release.
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