Photo: MintLondon: Stock markets around the world took a battering on Tuesday, following a dramatic sell-off on Wall Street that triggered concerns that a potentially healthy pullback from record highs could turn into a protracted bear market. However, signs that Wall Street will stabilize when it opens later helped ease the selling pressure during European trading hours. Despite the sea of red in global stock markets, there are hopes that the retreat won’t last long given the fact that global growth has picked up pace and the financial system is more robust following the financial crisis. Much could hinge on the open on Wall Street and futures markets are predicting a modest improvement—Dow futures and the broader S&P 500 futures are up 0.6% at 1.2%, respectively. The US dollar remained fairly resilient despite the stock market sell-off, which at one stage Monday saw the Dow shed 1,597 points.

Source: Mint February 06, 2018 03:11 UTC