markets<\/span> were mostly lower, with Hong Kong’s Hang Seng falling more than 3 percent as traders returned to their desks after the National Day holiday on Monday. <\/p>\nChina Evergrande Group shares jumped 23 percent in Hong Kong as trading in the heavily indebted Chinese property giant resumed following a halt last week.<\/p>\n
Chinese markets remain closed for the Golden Week Holiday. <\/p>\n
The Japanese yen slid to near a one-year low, with Finance Minister Shunichi Suzuki saying that any decision on currency market intervention would be based on volatility, not currency levels. <\/p>\n
The Australian dollar was under pressure after the Reserve Bank of Australia held interest rates steady at its first board meeting under new Gov. Michele Bullock.<\/p>\n
Crude oil prices fell nearly 1 percent in Asian trade after the World Bank cut its forecast for China’s economic growth in 2024.<\/p>\n
Gold hit seven-month lows as the dollar index remained elevated at 11-month highs and the 10-year U.S. Treasury yield surged to the highest since October 2007 in the wake of hawkish commentary by Fed officials. <\/p>\n
Fed Governor Michelle Bowman said that multiple interest-rate hikes may be required to get inflation down to the Fed’s 2 percent target. <\/p>\n
Fed Vice Chair for Supervision Michael Barr said his focus is on how long to hold rates high. <\/p>\n
Cleveland Fed leader Loretta Mester also said the Fed’s work is likely not done and one more rate hike may be needed this year.<\/p>\n
The European economic calendar remains light, with only Swiss inflation data awaited later in the day. <\/p>\n
Across the Atlantic, trading may be impacted by reaction to a report on job openings in the month of August ahead of the closely watched monthly jobs report on Friday.<\/p>\n
U.S. stocks ended mixed overnight as rising oil prices and bond yields offset signs of resilience in the U.S. manufacturing sector and investor optimism over lawmakers reaching a deal to avert government shutdown.<\/p>\n
The Dow slipped 0.2 percent to hit a four-month low, while the S&P 500 inched up marginally and the tech-heavy Nasdaq Composite rose 0.7 percent.<\/p>\n
European stocks fell on Monday to snap a two-day winning streak after data showed Eurozone manufacturing activity remained mired in a deep downturn last month. The pan European STOXX 600 shed 1 percent to reach a six-month low.<\/p>\n
The German DAX and France’s CAC 40 both dropped around 0.9 percent while the U.K.’s FTSE 100 declined 1.3 percent. <\/p>\n
Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"European stocks may edge lower at open on Tuesday as investors fret about the impact of higher interest rates on global growth. Asian markets were mostly lower, with Hong Kong’s Hang Seng falling more than 3 percent as traders returned to their desks after the National Day holiday on Monday. China Evergrande Group shares jumped 23 percent in Hong Kong […]<\/p>\n","protected":false},"author":3,"featured_media":135042,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\n
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