Stock market today: Global stocks mixed after bank failure
CTV
Global shares were trading mixed Tuesday with some markets closed or anticipating holidays and investors showing muted reaction to the latest U.S. banking failure.
Global shares were trading mixed Tuesday with some markets closed or anticipating holidays and investors showing muted reaction to the latest U.S. banking failure.
France's CAC 40 lost 0.4% in early trading to 7,459.14. Germany's DAX fell nearly 0.4% to 15,866.12. Britain's FTSE 100 inched down nearly 0.1% to 7,864.44. U.S. shares were set to drift lower with Dow futures slipping 0.2% to 34,090.00. S&P 500 futures dipped 0.2% to 4,179.50.
Australia's S&P/ASX 200 dipped 0.9% to 7,267.40, after the Reserve Bank of Australia raised interest rates by a quarter-percentage point, an unexpected move that signaled further tightening might be ahead.
"We think that the RBA has done more than enough and we have reached the peak in rates. Continuing to raise rates from here adds to the rising risk of plunging the economy into a recession," said Shane Oliver, chief economist at AMP in Sydney.
South Korea's Kospi gained 0.9% to 2,524.39. Hong Kong's Hang Seng gained 0.2% to 19,933.81.
Japan's Nikkei 225 edged up 0.1% to close at 29,157.95. Trading in Tokyo will be closed for Golden Week holidays the rest of the week. Trading was closed in Shanghai for Labor Day.
Economic and inflation reports are expected in Europe ahead of the central bank meeting later in the week. Markets are also bracing for what is hoped to be the last interest rate hike by the U.S. Federal Reserve for some time. Oil prices fell, while currencies were little changed.
