Economy

Global markets focus on busy data agenda

Service PMI in Germany, UK, US, eurozone; foreign trade figure in US to be closely monitored on Tuesday

Belgin Yakışan Mutlu   | 05.10.2021
Global markets focus on busy data agenda

ISTANBUL

Following a negative course in global markets, with rising oil prices fueling inflation concerns and sharp declines in technology stocks, a busy data agenda and statements from central bank officials will be monitored on Tuesday.

Analysts said that pricing difficulties continue in global markets due to problems in the supply chain and energy supply and warned that volatility may remain high.

The statements that will be made on Tuesday by Governor of the Bank of Japan Haruhiko Kuroda, President of the European Central Bank Christine Lagarde and members of the US Federal Reserve may be decisive on the direction of the markets, they said.

The service sector PMI in Germany, the UK, US and in eurozone, the Producer Price Index in the Europe and the foreign trade balance data in the US will also be monitored on Tuesday.

On Monday, global financial markets were in negative territory.

The US stock market extended losses on Monday amid rising volatility, while all three indices posted major losses – The Dow Jones dove 0.94%, the S&P 500 was down 1.3%, the Nasdaq plummeted 2.1%.

Sell-off pressure hit technology stocks after Facebook, Instagram and WhatsApp all went down globally for hours on Monday.

Facebook's stock price was down 5.25% to $325 shortly before the closing bell, while it slightly recovered to $326.23 at the final bell to finish the day with a 4.9% loss.

European stock markets closed lower on Monday as the crisis caused by this energy supply deficit continue.

Major stock markets in Asia were mixed on Monday as liquidity problems in China's real estate sector continued to be a source of concern.

While developments at troubled Chinese real estate developer Evergrande continues to unfold, another developer Fantasia Holdings missed a debt payment deadline on Monday.

Geopolitical developments were also on the agenda as Taiwan said that 52 Chinese warplanes entered its air defense area.

US Trade Representative Katherine Tai's signal that tariffs on products imported from China will not be lifted immediately raised expectations that the trade tension between the two countries will not be resolved in the short term.

Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.
Related topics
Bu haberi paylaşın