European stocks are expected to open lower Wednesday as markets around the world react to President Trump’s decision to halt stimulus talks until after the November election.

London’s FTSE is expected to open 14 points lower at 5,930, Germany’s DAX down 62 points at 12,851, France’s CAC 40 down 24 points at 4,871 and Italy’s FTSE MIB 76 points lower at 19,270, according to IG.

Markets in the U.S. and Asia-Pacific have been reacting Trump’s tweet on Tuesday that the White House is halting talks with Democrats about a second coronavirus stimulus deal.

The Dow Jones Industrial Average closed down 375 points, having rallied in the session on hopes that there would be a second relief package to prop up markets as the coronavirus outbreak continues. 

“I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill that focuses on hardworking Americans and Small Business,” Trump said in a tweet on Tuesday. 

The S&P 500 lost 1.4% and the Nasdaq Composite fell 1.57% on Tuesday, while oil prices also declined. U.S. stock futures were little changed in overnight trading.

Trump’s latest move came as U.S. Federal Reserve Chairman Jerome Powell on Tuesday called for continued aggressive fiscal and monetary stimulus for an economic recovery he said still “has a long way to go.”  Also on Tuesday, the International Monetary Fund’s Managing Director Kristalina Georgieva said the path ahead will be a “difficult climb.”

Retailer Tesco releases interim results Wednesday and France releases import and export figures and Spain releases its latest industrial output data.

-CNBC.com staff contributed to this market report.

Source Article

(Bloomberg) —

The Tokyo Stock Exchange halted trading for the entire day on Thursday on hardware breakdown, causing the worst breakdown for the world’s third-largest bourse.

Japan Exchange Group Inc., the operator of the TSE, gave no time frame for when trading would resume, and said it would announce plans for tomorrow’s session later. The stoppage means buying and selling in thousands of shares will be frozen on the first day of the new quarter. Previous outages had only affected part of the trading day.

The issue dampens investor sentiment following a positive U.S. stock market performance overnight and closures in other major markets in the region, including China, Hong Kong, South Korea and Taiwan. The shutdown could also have implications on investor confidence in the Japanese markets system.



a clock tower in front of a building: Final Trading Day Of The Year At The Tokyo Stock Exchange


© Bloomberg
Final Trading Day Of The Year At The Tokyo Stock Exchange

The Tokyo Stock Exchange (TSE) building in Tokyo.

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Photographer: Kiyoshi Ota/Bloomberg

“This is very problematic — when things like this happen, investor confidence in the Japanese market get impacted,” said Ryuta Otsuka, a strategist at Toyo Securities Co. “It could later weigh on Japanese stocks.”

There were no indications that the outage was related to hacking, the exchange said. The halt prompted a reaction from Chief Cabinet Secretary Katsunobu Kato, the top government spokesman, who said it was “extremely regrettable” that trading opportunities have been restricted.

Confidence Blow

Global markets are on a heightened state of alertness to any glitches, after a cyber attack in New Zealand that spurred trading halts over four days in August.

Other markets in the country, including exchanges in Sapporo, Nagoya, and Fukuoka, have also suspended trading. Derivatives, including futures, trade on the Osaka Exchange, which is not impacted by the system issue. Futures on the Nikkei 225 Stock Average were