Dow futures inch lower after global sell-off

Business | 9 Feb 2018 10:14 pm

Global stock markets sank today after the Dow Jones industrials on Wall Street plummeted more than 1,000 points, deepening a week-long sell-off.

Markets followed U.S. stocks lower after the Dow, coming off a record high, entered a "correction” — that is, a 10 percent decline from its latest peak — for the first time in two years.

In Europe, France’s CAC 40 lost 1.2 percent to 5,087, Britain’s FTSE 100 shed 0.7 percent to 7,122 and Germany’s DAX fell by 1.2 percent to 12,110. All three had dropped around 2 percent the day before.

Asian markets fell more sharply. The Shanghai Composite Index tumbled 5.5 percent before ending the day down 4 percent at 3,129.85. Tokyo’s Nikkei 225 lost 2.3 percent to 21,382.62 and Hong Kong’s Hang Seng retreated 3.1 percent to 29,507.42.

On Wall Street, futures for the Dow and the Standard & Poor’s 500 were down 0.1 percent and up 0.2 percent, respectively, though the actual market open does not always follow the futures closely in times of volatility.-AP

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