Stocks Move Lower on Declines in Mining, Autos and Health-Care
August 25 2016 - 4:50AM
Dow Jones News
Stocks in Europe and Asia mostly drifted lower Thursday,
following modest losses on Wall Street.
The Stoxx Europe 600 was down 0.8% in the early minutes of
trading, with declines concentrated in the mining, auto and
health-care sectors.
Health-care shares fell in Europe after political pressure to
tamp down drug prices pushed biotechnology stocks lower Wednesday
in the U.S.
The bulk of market attention, however, was focused on the
Federal Reserve's annual Jackson Hole meeting, set to start later
Thursday. Chairwoman Janet Yellen is due to give a speech on
Friday, and while little direction on interest rates is expected,
investors will be watching for any clues on the course of monetary
policy or her assessment of the U.S. economy.
Trading in Asia was mostly softer. Shares in Shanghai shed 0.6%,
even as China's central bank put more cash into the system through
14-day reverse repurchase agreements, which are effectively a loan
to commercial banks. Australia's S&P ASX 200 fell 0.4%
following recent declines in commodities prices.
Brent crude oil was last down 0.1% at $49.01 a barrel, after
dropping for three of the past four sessions.
Shen Hong contributed to this article.
(END) Dow Jones Newswires
August 25, 2016 04:35 ET (08:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
ASX (ASX:ASXCD)
Historical Stock Chart
From Nov 2024 to Dec 2024
ASX (ASX:ASXCD)
Historical Stock Chart
From Dec 2023 to Dec 2024
