European markets are in a mild slump Wednesday, a day after U.S. President Donald Trump abruptly broke off negotiations on a new coronavirus relief bill that led to huge losses on Wall Street.
London’s FTSE index has lost just over four points at the midday point, but is unchanged percentage-wise. Paris’s CAC-40 index is down 0.3%, while the DAX index in Frankfurt is trading 0.4% lower.
Asian markets were more resilient to the news from Washington, finishing in positive territory hours earlier. The benchmark Nikkei index in Japan lost nearly 11 points, but was unchanged percentage-wise. The Hang Seng in Hong Kong closed one percent higher, while Mumbai’s Sensex finished 0.7% higher. Australia’s S&P/ASX index closed up 1.2%. The KOSPI index in Seoul gained 0.8%, and Taiwan’s TSEC finished 0.3% higher.
Shanghai’s Composite index is closed all week for a national holiday.
In commodities trading, gold is selling at $1,892.20 per ounce, down 0.8%. U.S. crude oil is trading at $39.69 per barrel, down 2.4%, and the global benchmark Brent crude is trading at $41.79 per barrel, down 2%.
All three major U.S. indices are trending higher in futures trading ahead of Wednesday’s opening bell on Wall Street.
The Dow Jones, S&P 500 and Nasdaq all dropped over one percent Tuesday after President Trump issued a tweet ordering his administration to end all talks with House Speaker Nancy Pelosi until after the November 3 presidential election, promising “a major stimulus bill that focuses on hardworking Americans and small business.”
