Growth fears and Chinese equity plunge haunt global stocks

Growth fears and Chinese equity plunge haunt global stocks

"It will be very hard for the European Central Bank to shift inflation much higher to 1.5 percent and beyond".

The ECB's board did lower its growth projections to 1.1% for 2019, down from 1.7% projected in December 2018. The Nasdaq Composite Index decreased 53.85 points, or 0.73 percent, to 7,367.61. "I think people realized it's not that bad overall". Weak Chinese trade data added to the negativity. Japan's Nikkei. closed 2 percent lower. Officials said they'll freeze the interest rate this year while also offering banks cheaper loans to prompt more lending to businesses.

Asia Pacific Market Open Talking Points Risk appetite deteriorated after dismal European Central Bank economic projections EUR/USD sunk through support levels, eyeing June 2017 lows next Markets eye China trade data to monitor impact of slowing growth Build confidence in your own EUR/USD strategy with the help of our free guide!

Friday's Asia Pacific Trading Session S & P 500 futures are pointing cautiously higher, perhaps indicating that there is room for a breather when Asia Pacific stock markets trade.

European Central Bank chief Mario Draghi caught even dovish rate-setters off guard by pushing for unexpectedly generous stimulus after forecasts showed a large drop in economic growth, sources familiar with the discussion told Reuters.

"Fragile employment data potentially signals stagnating growth, which could start to bleed further into other fundamentals like retail sales", said Mike Loewengart, vice president of investment strategy for E*Trade Financial Corp.

German new orders

"Our initial take is these developments are pressing down on market confidence, seen in lower bond yields and equities". Italy's 10-year government bond yield touched its lowest level in just over a month at 2.661% and was last down 4 basis points on the day.

A key market gauge of euro zone inflation expectations, the five-year forward inflation swap, dropped to a nine-day low at 1.4618 percent.

Investors will be scouring USA payrolls data for February due out later in the day, with analysts uncertain how much payback there might be for January's outsized jump.

The greenback reached a new 2019 high against a basket of currencies and was last at 97.548.

Oil futures fell around $1 with US crude at $55.75 a barrel, while Brent crude fell to $65.14. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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