Demonstrators rebuild a barricade near the Central Government Offices in Hong Kong,... Read More
The Standard & Poor’s 500 Index fell 0.2 percent as of 10:05 a.m. in New York. The Nasdaq 100 Index lost 0.8 percent while the Dow Jones Industrial Average rose less than 0.1 percent. The MSCI All-Country World Index slid 1 percent as the Stoxx Europe 600 Index retreated 1.2 percent, heading for its worst weekly drop since June 2013. The dollar appreciated against most of its major peers. Crude oil retreated to its lowest price since July 2012, while copper led industrial metals lower.
Global equities have lost $3.5 trillion in
value since reaching a record last month. European Central Bank President Mario Draghi clashed with Germany’s finance minister yesterday over the steps needed to revive growth in the euro area, while Federal Reserve officials have said the U.S. economy may be at risk from a global slowdown. Pro-democracy leaders in Hong Kong called on supporters to flood the city’s streets today after the government scrapped talks with protesters.
“Risks to global growth are at the center of all concerns right now,” Alessandro Bee, a strategist at Bank J Safra Sarasin AG, said by phone from Zurich. “Investors are paying more attention to what is going on outside America, because if a slowdown in the global economy drags the U.S. economy down, that really does not bode well for equities. Greater volatility this week shows the market is nervous.”
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