U.S. stocks ended near flat on Tuesday after a broad sell-off the day before, with worries over troubles at developer China Evergrande and caution ahead of Wednesday's Federal Reserve policy news keeping a lid on the market. Trading was choppy, with the Dow and S&P 500 erasing session gains just before the close, while the Nasdaq finished slightly higher.
European shares recovered some equilibrium Tuesday, following the previous session's heavy losses. Investors fretted in the last trading session over the implications of the potential failure of China Evergrande-the world's most indebted property developer. Fears over what could come out of the looming collapse of Evergrande continue to make markets uneasy, but investors will have to wait until Wednesday, when Chinese exchanges come back online, to see the next major...
Housing Starts for August; FedEx 1 Q earnings. Stock futures rose Tuesday, suggesting markets were poised to rebound a day after concerns about China's property sector helped fuel a global selloff in stocks and commodities. In Asia, Hong Kong's flagship Hang Seng Index fell as much as 1.3% but quickly recouped most of those losses and rose 0.5% by the close of trading.
* European shares rise 0.6% * Hang Seng flat; yuan recoups a little. * Nikkei drops 2% following market holiday on Monday. By Tom Westbrook and Lawrence White. World stocks stabilised on Tuesday and oil prices recovered from the previous day's heavy selling, as investors grew more confident that contagion from the distress of debt-saddled Chinese developer Evergrande would be limited.
* Russia says global oil demand may not recover to 2019 levels. * OPEC+ struggles to pump more oil to meet rising demand. * API shows crude, fuel stocks down -market sources. By Stephanie Kelly. Oil prices rose modestly in a see-saw session on Tuesday, as concerns about the global consumption outlook counterbalanced the struggle by big OPEC producers to pump enough supply to meet growing demand.
Soaring gas prices that threaten to push up winter fuel bills, hurt consumption and exacerbate a near-term spike in inflation are another blow to a world economy just getting back on its feet after the coronavirus shock.
* Canadian dollar falls 0.3% against the greenback. * Dollar touches weakest level since Aug. 20 at 1.2895. * TSX ends down 1.6% * Canadian 10-year yield eases 6.6 basis points. By Fergal Smith.
* All eyes on Fed's policy meeting later this week. Wall Street plunged on Monday as fear of contagion from a potential collapse of China's Evergrande prompted a broad sell-off and sent investors fleeing equities for safety.
* All eyes on Fed's policy meeting later this week. * Major airlines mixed as U.S. relaxes travel rules. * Indexes down: Dow 2.6%, S&P 500 2.7%, Nasdaq 3.2% By Caroline Valetkevitch and Devik Jain. Sept 20 - U.S. stocks fell on Monday, with the Nasdaq down more than 3%, as worries mounted over the pace of economic growth and a possible spillover from China Evergrande's (EGRNF) troubles.
U.S. stocks are experiencing the biggest wave of volatility in months but options traders are showing little appetite for more protection, a sign that at least some of them believe the current selloff will be short-lived.
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