- New study reinforces theory Covid emerged at Chinese market
- World Bank boosts climate financing by 10 percent
- Bagnaia eyeing summit on home ground in 100th MotoGP
- 'Something was wrong', defendant in French mass rape tells court
- Hezbollah chief admits 'unprecedented' blow in device blasts
- Sales of US existing homes slip slightly in August
- Fear, panic haunt Lebanese after devices explode
- Labuschagne sparks Australia fightback in England ODI opener
- S.Africa's HIV research power couple says fight goes on
- Why is Israel focusing on border with Lebanon?
- Mpox vaccines administered in Rwanda, first in Africa
- US Fed rate cut is 'very positive sign' for economy: Yellen
- Unknown Mozart string trio discovered in Germany
- 'Are we five-year-olds?' F1 drivers won't mind their language
- Brazil judge orders X to reimpose block or face hefty fine
- Munich to rename stadium street after Beckenbauer
- Champions Italy to face Argentina in Davis Cup Final 8
- The winding, fitful path to weight loss drug Ozempic
- Italians defeat American Magic to reach Louis Vuitton Cup final
- Norris has 'nothing to lose' as he hunts Verstappen in Singapore
- Kyiv 'outraged' at Swiss showing of Russian war film
- French city renames Abbe Pierre square after abuse claims
- Footballer charged after huge cannabis seizure at UK airport
- Vatican recognises Medjugorje shrine, but not Virgin's messages
- Israel bombs Hezbollah strongholds in Lebanon after wave of deadly blasts
- Bank of England freezes rate after jumbo US cut
- Playing Nadal is 'kind of a nightmare', says Alcaraz
- Portugal tackles last of deadly northern forest fires
- Ton-up Ashwin lifts India to 339-6 against Bangladesh
- Departing NATO chief warns US against 'isolationism'
- Coming winter 'sternest test yet' for Ukraine energy grid
- Evacuations as tail of Storm Boris floods northeast Italy
- Lebanon's Hezbollah reeling after second wave of deadly blasts
- Taiwan recognises same-sex marriages between Chinese, Taiwanese
- Stock markets rally after jumbo US rate cut
- Gabon's ousted leader Bongo says renouncing politics for good
- Lebanon device blasts: what we know about deadly attacks
- Equity markets rally after jumbo US rate cut
- Late Harrods owner Al-Fayed accused of rape: BBC
- Hong Kong man sentenced 14 months for wearing 'seditious' T-shirt
- Lebanon's Hezbollah in disarray after second wave of deadly blasts
- Equity markets, yen rally after jumbo US rate cut
- Meta and Spotify blast EU decisions on AI
- Hasan takes three as Bangladesh rattle India in first Test
- Two killed during police operation in New Caledonia
- Flood-hit region leaders to meet in Poland to discuss EU aid
- Sri Lanka to vote in first poll since economic collapse
- Hong Kong probe finds Cathay Airbus defect could cause 'extensive' damage
- AI development cannot be left to market whim, UN experts warn
- All Blacks primed for 'hell' of a Wallabies clash
RBGPF | 5.79% | 60.5 | $ | |
CMSC | -0.14% | 25.02 | $ | |
BP | 1.58% | 32.951 | $ | |
BCC | 4.01% | 142.78 | $ | |
SCS | -6.81% | 13.21 | $ | |
GSK | -1.06% | 41.985 | $ | |
BTI | -0.68% | 37.625 | $ | |
NGG | -1.63% | 68.925 | $ | |
CMSD | 0.1% | 25.005 | $ | |
RELX | 1.54% | 48.11 | $ | |
RIO | 3.56% | 65.23 | $ | |
RYCEF | 5.48% | 6.93 | $ | |
JRI | -0.3% | 13.4 | $ | |
AZN | 0.87% | 79.27 | $ | |
VOD | -1.64% | 10.065 | $ | |
BCE | -0.54% | 35.42 | $ |
Wall Street falls as Fed meets, Europe rebounds
European stocks rallied Tuesday along with oil prices, while Wall Street ended lower as markets nervously eyed the impasse over Ukraine while awaiting a key Federal Reserve decision.
A day after suffering deep losses, Frankfurt, Paris and London all pushed higher, following a topsy-turvy session in New York on Monday when the Dow recovered more than 1,200 points to finish in positive territory.
But sentiment remained brittle on Tuesday.
"Notwithstanding yesterday's huge intraday reversal -- one of the largest ever for the Nasdaq -- the stock market isn't necessarily in a celebratory mood," Briefing.com analyst Patrick O'Hare said.
US stocks briefly rallied in the afternoon, but were unable to match Monday's pattern. Though the S&P 500 ended far above its session lows, it was still down 1.2 percent.
"Market volatility remains elevated as investors are still feeling jittery over a very tense Ukraine-Russia situation, a whole range of inflationary issues that include a potentially aggressive Fed and a global chip problem that just won’t get any better," Oanda's Edward Moya said.
"Optimism remains that a massive correction is still unlikely to happen because the US growth story will likely remain intact this year, but Wall Street is not seeing many buyers emerge ahead of the Fed and as the conflict in Ukraine escalates."
The United States warned Moscow it faces damaging sanctions, including high-tech export curbs, as Russian combat troops near Ukraine launched new exercises.
Meanwhile, Fed officials kicked off a two-day policy meeting that is expected to produce more information on how Fed Chair Jerome Powell's recent focus on containing inflation will affect monetary policy.
The International Monetary Fund trimmed its world GDP forecast for 2022 to 4.4 percent, half a point lower than the October estimate as the Omicron variant of Covid-19 weighs on activity.
And amid ongoing global supply chain snags, analysts cited a Commerce Department report warning that US firms have an average of less than five days worth of semiconductors on hand.
In other markets, oil prices advanced amid worries the Ukraine impasse could hit production. either because of sanctions that Russia or an outage on key petroleum infrastructure.
- Key figures around 2140 GMT -
New York - Dow: DOWN 0.2 percent at 34,297.73 (close)
New York - S&P 500: DOWN 1.2 percent at 4,356.45 (close)
New York - Nasdaq: DOWN 2.3 percent at 13,539.29 (close)
London - FTSE 100: UP 1.0 percent at 7,371.46 (close)
Paris - CAC 40: UP 0.7 percent at 6,837.96 (close)
Frankfurt - DAX: UP 0.8 percent at 15,123.87 (close)
EURO STOXX 50: UP 0.6 percent at 4,078.26 (close)
Tokyo - Nikkei 225: DOWN 1.7 percent at 27,131.34 (close)
Hong Kong - Hang Seng Index: DOWN 1.7 percent at 24,243.61 (close)
Shanghai - Composite: DOWN 2.6 percent at 3,433.06 (close)
Euro/dollar: DOWN at $1.1305 from $1.1326 late Monday
Pound/dollar: UP at $1.3507 from $1.3488
Euro/pound: DOWN at 83.66 pence from 83.97 pence
Dollar/yen: DOWN at 113.87 yen from 113.95 yen
Brent North Sea crude: UP 2.2 percent at $88.20 per barrel
West Texas Intermediate: UP 2.7 percent at $85.60 per barrel
burs-jmb/hs
M.Ouellet--BTB