On Thursday, the 28th of February, 2019, a stack of global stocks fell for third straight days in a row, after optimisms on trade deal hope had been offset by a number of geo-political concerns, including escalation of India-Pakistan border dispute over Kashmir, a denuclearization attempt aimed at North Korea failed in Vietnam after Trump-Kim summit slashed short, and tempered trade talks.
Alongside, another set of weaker Chinese economic data and controversial message over the progress of trade talk had tottered the global stocks on Thursday (February 28th). Following the release of a report revealing Chinese economic activity contracted to a three-year low, the MSCI International EM price Index dropped by 1 percent, while all three major US indexes were dipped in red.
Despite aggravated geo-political tensions and gloomier financial outlook across the world, the Pan-European STOXX 600 somehow managed to close the day with little losses. Germany’s DAX posted a gain of 0.25 percent and France’s CAC 40 was up by 0.29 percent, while the FTSE 100 again posted a plunge of 0.46 percent, largely weighed by a stronger pound, which tested a 21-month high against euro yesterday and analysts are expecting further bullish move below 0.85 for EUR/GBP pair, which was not at all good news for the UK stocks exposed heavily on Eurozone trade.
Over the Asia minor, the markets were mostly down on escalated tension over India-Pakistan border dispute alongside emerging markets and the MSCI All-Country world Index, that keeps track of 47 stock exchanges across the world, whiplashed more than 0.3 percent.