Global equities tumble amid fears of slowing worldwide growth
European markets follow Asian peers lower as fresh signs emerge of slowing growth and fears grow that US-China tension will torpedo chances of a trade deal
London — Losses on global stocks snowballed on Monday, with European markets following Asian peers lower as fresh signs emerged of slowing growth worldwide and fears grew that simmering US-China tension would torpedo chances of a trade deal. Wall Street was set to open lower, futures indicated, after New York-listed shares posted their biggest weekly decline since March. “Another day, another reason to sell risk. Equity markets remain in a world of pain with everyone in search of a very elusive silver lining,” said Stephen Innes at brokerage Oanda. MSCI’s all-country index has spent four weeks in the red, despite intermittent rallies fuelled by the hope of trade war detente. The pessimism has been exacerbated by data showing the world’s largest economies — the US, China, Japan and Germany — are all headed for slower growth. That pushed the index 0.5% lower, while a pan-European index fell almost 1% by 9.30am GMT and US equity futures were down 0.5%, suggesting more pressure on Wall ...
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