Overseas Trading: Slumping Oil Prices Smack Global Stocks

A drop in energy stocks pressured Asian markets, while a sell-off in mining and healthcare shares is weighing on Europe

by Karee Venema

Published on Aug 25, 2016 at 8:49 AM
Updated on Aug 25, 2016 at 9:01 AM

Asian markets settled lower today, as traders took a cautious stance ahead of tomorrow's highly anticipated speech from Federal Reserve Chair Janet Yellen in Jackson Hole, Wyoming. Stocks also reacted to declining oil prices, which came in the wake of disappointing crude inventories data out of the U.S.

In China, liquidity concerns and plunging property stocks pressured the Shanghai Composite to a 0.6% loss, while Hong Kong's Hang Seng closed down 0.03%. Elsewhere in the region, Japan's Nikkei gave back 0.3%, and South Korea's Kospi settled fractionally lower.

European benchmarks are tumbling at midday, led by losses in mining and energy stocks. Shares of healthcare companies are also selling off, after Democratic presidential nominee Hillary Clinton weighed in on the recent pricing-gouging speculation surrounding U.K.-based Mylan's EpiPen. At last check, the German DAX is off 0.9% after Ifo's business sentiment index unexpectedly declined last month, the French CAC 40 is down 0.7%, and London's FTSE 100 is 0.2% lower.

Overseas Trading August 25

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