world markets news in brief

World Markets Daily News – In Brief – Friday 06/05/2022

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. SMH (AUSTRALIA)

Wall St rout triggers $50b ASX wipeout

The ASX 200 closed 2.2% lower, down 159 points to 7205.6 after Wall St plunged overnight on stagflation fears. All sectors closed lower on Friday – and were down for the week – led by tech stocks and the property sector which has been hit hard by rising interest rates.

. CNBC (USA)

Hong Kong’s Hang Seng index drops more than 3% following Wall Street tumble

Shares in Asia-Pacific largely declined in Friday trade after an overnight drop on Wall Street sent the Dow Jones Industrial Average to its worst day since 2020.

. RTT NEWS (USA)

European Shares Set To Fall On Fed Policy Jitters

European stocks look set to open on a tepid note Friday after Wall Street stocks slumped overnight, erasing a rally from a day earlier, in the face of inflation and growth concerns.

. REUTERS (UK)

Oil rises, defying stock market falls as supply concerns persist

Oil prices climbed for a third straight session on Friday, shrugging off concerns about global economic growth as worries about tightening supplies underpinned prices ahead of an impending European Union embargo on Russian oil.

Gold retreats post Fed-led boost as dollar gains upper hand

Gold prices fell on Thursday, giving up some gains from a more than 1% rise, as a bounce in the dollar offset support for bullion from a relatively less hawkish stance on interest rate hikes from the U.S. Federal Reserve.

. WSJ (USA)

Stock Futures Edge Lower, Signaling Further Market Turbulence

Friday is shaping up to be a big day in markets after the previous day’s swoon. In addition to digesting the biggest stock-market fall since 2020, investors will focus on the march higher in yields and the monthly jobs figures, which publish at 8:30 a.m. ET

THE RIO TIMES (BRAZIL)

Belgium now largest Kenya coffee market

Belgium has toppled America as Kenya’s top export market for coffee for the first time in a decade. The European nation imported Kenyan coffee worth Sh6.5 billion in the year to June 2021. This was nearly double what it bought in the prior year, overtaking the United States as the top buyer of the beverage.

. MARKETWATCH (USA)

Stock futures weaker after dramatic day of selling, and as nonfarm payrolls data looms

U.S. stock futures fell ahead of important nonfarm payroll data on Friday, and after a frantic day of selling on Wall Street, driven by investor concerns over the Federal Reserve’s ability to get inflation under control.