TOKYO (AP) — Stocks in Europe and Asia slipped Thursday, but by a more moderate amount than the swings that rocked global markets earlier this week.
The French CAC 40 lost 1.2 percent to 7,176.23, while the German DAX lost 0.8 percent to 17,475.03. The British FTSE 100 lost 1.1 percent to 8,078.72. Futures for the S&P 500 and the Dow Jones Industrial Average lost 0.3 percent.
The latest unemployment benefits numbers will be released on Thursday, providing the first snapshot of the U.S. labor market since last week. Deeply disappointing employment data for July Financial markets plummeted amid fears that the economy was heading for a recession.
In Asian trading, the Japanese benchmark index Nikkei 225 closed at 34,831.15, down 0.7 percent. The Australian S&P/ASX 200 lost 0.2 percent to 7,682.00. The South Korean Kospi fell 0.5 percent to 2,556.73.
The Hang Seng in Hong Kong rose by almost 0.1 percent to 16,891.83. The Shanghai Composite remained virtually unchanged at 2,869.90.
Taiwan’s Taiex fell 2.0%, while computer chip maker Taiwan Semiconductor Manufacturing Co. lost 2.6%, in line with losses in the technology sector on Wall Street and elsewhere.
Some semiconductor equipment makers and related companies also posted further losses. Advantest Corp. lost 4.1 percent and Disco Corp. slumped 4.1 percent. Shares of Lasertec Corp., however, rose 22.6 percent after the company reported a 28 percent increase in net profit for the fiscal year ended June 30.
Although Wall Street saw a decline on Wednesday, the decline was not as severe as the manic market swings that rocked global markets earlier in the week.
Japanese policymakers sought to calm concerns about potential interest rate hikes on Wednesday, after a hike in the benchmark rate pushed the yen higher against the U.S. dollar and contributed to heavy selling on Monday as the Nikkei suffered its worst percentage loss since 1987.
The Japanese yen remained relatively stable on Thursday. The dollar fell from 146.72 yen to 146.09 yen. The euro cost 1.0929 dollars, down from 1.0927 dollars previously.
On Wednesday, the S&P 500 lost 0.8 percent and the Dow lost 0.6 percent. The Nasdaq Composite lost 1 percent.
Strong earnings are supporting markets, even as concerns about the direction of the US economy are growing following last week’s relatively weak jobs data. And the largest US companies have delivered solid earnings reports. According to FactSet, growth among companies in the S&P 500 index could be the best since 2021.
Wall Street expects the Fed to cut its benchmark interest rate by either the usual quarter of a percentage point or a more drastic half a percentage point at its next meeting next month.
In energy trading, US oil as a reference grade lost 54 cents to 74.69 dollars per barrel. The international standard grade Brent slipped by 63 cents to 77.70 dollars per barrel.
