World stocks slip on worries about global growth
The Euro STOXX 600 is down 0.4%, the MSCI world equity index 0.3%, with emerging-market currencies feeling the pinch
London — World equity markets slipped on Thursday amid worries about global growth and as investors digested European earnings, while the Swedish krona slumped to its lowest in 17 years and the euro suffered after the release of German data. The Euro Stoxx 600 lost 0.3% in early trading, with concern over prospects for global growth underscored by weak economic data from South Korea. Energy stocks and a 10% drop in Finnish telecoms equipment maker Nokia dragged down European shares, with a varied bag of earnings for the region’s banks. The MSCI world equity index, which tracks shares in 47 countries, also fell 0.3%. Asian markets had fallen earlier in the day, losing 0.5% as South Korea’s economy unexpectedly contracted in the first quarter, giving a sharp reminder of the fragility of the world economy beyond the US. Shanghai’s bourse also fell sharply late in the day, losing more than 2% as other Chinese markets lost ground after attempts by the central bank to temper expectations ...
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