Asian shares falter, dollar at 16-month peak on Europe, Brexit woes
Asian shares stumbled on Tuesday after a rout in tech stocks inflicted a hefty sell-off on Wall Street, while the dollar hit a 16-month peak on safe haven bets amid political risks in Europe and acrimonious Sino-U.S. trade relations. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 0.4 percent to a 1-1/2 week trough, with Australian and New Zealand shares opening sharply lower. .NZ50 The Asia ex-Japan index is down 15.5 percent so far this year, after a solid 33.5 percent gain in 2017, with October the worst month since mid-2015. Read More @ https://www.reuters.com/article/us-global-markets/asian-shares-falter-dollar-at-16-month-peak-on-europe-brexit-woes-idUSKCN1NI00Y?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29
Global stocks sell off as tech tumbles; dollar hits 16-month high
Major U.S. stock indexes dropped about 2 percent or more. Indexes were weighed down by a 5.0 percent slump in index heavyweight Apple, after an iPhone parts supplier cut its outlook. Oil prices gave up an initial rally and turned negative, which may have contributed to the steeper sell-off in U.S. equities at the end of the session. “The concerns are all about global economic growth, specifically demands for the products of companies like Apple,” said Kate Warne, investment strategist at Edward Jones in St. Louis. “Investors are becoming more concerned about faster-growing companies and whether they will continue to grow at that pace.” Read More @ https://www.reuters.com/article/us-global-markets/global-stocks-sell-off-as-tech-tumbles-dollar-hits-16-month-high-idUSKCN1NH02R?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29
WHAT IS THE PSEI SAYING?
Don’t rush to buy stocks yet as more price drop is expected in teh weeks ahead.
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