Shares fell in Europe early Monday after a day of gains in Asia.
Investors were encouraged by a wave of buying late last week on Wall Street that was spurred by strong U.S. jobs numbers and optimism over China-U.S. trade.
France's CAC 40 slipped 0.2% in early trading to 5,860.03, while Germany's DAX declined 0.1% to 13,154.81. Britain's FTSE 100 lost 0.1% to 7,230.09.
U.S. shares were set to drift lower with Dow futures falling less than 0.1% to 28,001. S&P 500 futures fell nearly 0.1% to 3,144.10.
The surprisingly strong U.S. jobs report for November put investors in a buying mood Friday on Wall Street, extending the market's winning streak to a third day.
"Markets were mostly higher on the solid U.S. jobs data print," Vishnu Varathan of the Asia & Oceania Treasury Department at Mizuho Bank in Singapore said in a report, adding that questions remained on whether that would prove enough amid other global risks.
The Labor Department said employers added 266,000 positions, well above estimates of 184,000. The report also showed unemployment falling to a 50-year low. Separately, an index that measures how consumers feel about the economy showed an increase from last month.
In Asia, Japan's benchmark Nikkei 225 edged 0.3% higher to finish at 23,430.70, after the Cabinet Office reported the economy expanded at a 1.8% annual pace in July-September, spurred by strong consumer purchases ahead of an Oct. 1 sales tax hike. That was much stronger than the 0.2% growth earlier reported and marked a fourth straight quarter of expansion for the world's No. 3 economy.
Elsewhere in Asia, Australia's S&P/ASX 200 added 0.3% to 6,730.00. S outh Korea's Kospi edged 0.3% higher to 2,088.65. Hong Kong's Hang Seng was little changed, inching down to 26,494.73. The Shanghai Composite index rose nearly 0.1% to 2,914.48.
The week got off to a strong start after the Dow Jones Industrial Average jumped more than 300 points on Friday, while the S&P 500 erased losses from earlier in the week, nudging the benchmark index to a second consecutive weekly gain.
The S&P 500 rose 0.9% to 3,145.91. The index posted a 0.2% gain for the week, a solid pivot from losses of more than 1% as of late Thursday. It's now within 0.3% of its all-time high set on Nov. 27 and up 25.5% so far this year.
The latest gains also helped stem some of the losses for the Dow and Nasdaq.
Trade tensions and disappointing economic reports -- including data showing manufacturing continues to shrink and growth in the service sector is slowing -- dragged the market to steep losses on Monday and Tuesday.
But steady job growth has been one of the bright spots in the economy, along with solid consumer spending.
Investors also got some encouraging news on the U.S.-China trade front, with Beijing saying Friday that it is waiving punitive tariffs on U.S. soybeans and pork as negotiations for a trade deal continue.
ENERGY: Benchmark crude oil lost 48 cents to $58.72 a barrel in electronic trading on the New York Mercantile Exchange. It advanced 77 cents to $59.20 per barrel on Friday. Brent crude oil, the international standard for pricing, shed 45 cents to $63.94.
CURRENCIES: The dollar fell to 108.45 Japanese yen from 108.59 yen on Friday. The euro was little changed, inching up to $1.1067 from $1.1062.
Bangkok, Oct 2 (AP/UNB) — Global stocks fell on Wednesday and Wall Street was expected to slide on the open after a discouraging report on U.S. manufacturing dampened the economic outlook.
Tuesday's report showed that manufacturing weakened in September for the second straight month as U.S. President Donald Trump's trade war with China dragged on confidence and factory activity.
It dashed economists' belief that August's contraction was an aberration, and stocks and bond yields immediately reversed course to drop sharply lower.
Wall Street looked set to extend losses Wednesday, with the future contract for the S&P 500 down 0.6% to 2,921. The Dow future was also down 0.6% at 26,363.
In Europe, Germany's DAX declined 1.4% to 12,088 after a group of leading think tanks joined the German government and others in cutting its economic forecast for Europe's largest economy. The CAC 40 in Paris shed 1.7% to 5,503.
Britain's FTSE 100 sank 2% to 7,212 after Prime Minister Boris Johnson said there would be "grave consequences for trust in our democracy" if Brexit is delayed beyond Oct. 31.
Johnson said his final proposal Wednesday is a "fair and reasonable compromise," but it is likely to face deep skepticism from EU leaders, who doubt the U.K. has a workable plan to avoid checks on goods or people crossing the border between EU member Ireland and the U.K.'s Northern Ireland after Brexit.
In Asia, Japan's Nikkei 225 index shed 0.5% to 21,778.61 while the Hang Seng in Hong Kong lost 0.2% to 26,042.69. Sydney's S&P ASX 200 gave up 1.5% to 6,639.90.
Markets in mainland China were closed for National Day holidays. They reopen on Oct. 8. India's markets area also closed.
The Kospi in South Korea sank 2% to 2,031.91 after North Korea fired a ballistic missile toward the sea, according to South Korea's military. The display of Pyongyang's expanding military capabilities came just hours after it said it would resume nuclear diplomacy with the United States this weekend.
Manufacturing is a relatively small part of the U.S. economy, but investors fear the doldrums might spill into other areas. That puts an even bigger spotlight on a jobs report due out Friday, which economists expect to show an acceleration in hiring.
"Granted, manufacturing equates to a mere 11% of U.S. GDP, but the market ... is incredibly sensitive to the outcome," said Chris Weston of brokage Pepperstone.
The protracted trade war with China is hammering export manufacturing. It also raises uncertainties over the future rules of international trade, causing CEOs to curb spending.
ENERGY: Benchmark crude oil rebounded, gaining 22 cents to $53.84 per barrel in electronic trading on the New York Mercantile Exchange. It fell 45 cents to $53.62 a barrel on Tuesday. Brent crude oil, the international standard, was flat at $58.89 per barrel.
CURRENCIES: The dollar slipped to 107.52 Japanese yen from 107.73 yen on Tuesday. The euro dropped to $1.0930.
Beijing, Dec 28 (AP/UNB) — Most Asian stock markets gained while Japan edged down following Wall Street's rally at the end of a turbulent week.
Keeping Score: The Shanghai Composite Index rose 0.5 percent to 2,495.16 points while Tokyo's Nikkei 225 lost 0.6 percent to 19,964.54. Hong Kong's Hang Seng advanced 0.2 percent to 25,531.63 and Seoul's Kospi added 0.6 percent to 2,040.76. Sydney's S&P-ASX 200 gained 0.7 percent to 5,634.30 and benchmarks in New Zealand, Taiwan and Southeast Asia also rose.
Wall Street: U.S. stocks staged a last-minute turnaround that put the market on track to end the volatile week with a gain. That followed the market's best day in 10 years. Health care and technology companies, banks and industrial stocks accounted for much of the gains. The Standard & Poor's 500 rose 0.9 percent to 2,488.83 after being down 2.8 percent at midday. The Dow Jones Industrial Average gained 1.1 percent to 23,138.82. The Nasdaq composite added 0.4 percent to 6,579.49. The downturn that began in October has intensified this month, erasing all of the market's 2018 gains and nudging the S&P 500 closer to its worst year since 2008. Stocks are on track for their worst December since 1931.
Analyst's Quote: Improved U.S. sentiment "provided Asia markets with the intraday relief into the end of the week," said Jingyi Pan of IG in a report. Still, Pan said, "one would likely flinch to call this a bottom yet," leaving a "mixed picture as we head into the end of the year."
China Profit Decline: Profits at major Chinese industrial companies fell in November for the first time in three years amid an economic slowdown and trade tension with Washington. Government data showed profit for companies in steel, construction materials, oil, chemicals and equipment manufacturing declined 1.8 percent from a year earlier, a reverse from October's 3.6 percent gain.
Energy: Benchmark U.S. crude jumped $1.02 to $45.63 per barrel in electronic trading on the New York Mercantile Exchange. The contract plunged $1.59 on Thursday to close at $44.61. Brent crude, used to price international oils, gained $1 to $53.73 per barrel in London. It fell $1.97 the previous session to $52.73.
Currency: The dollar declined to 110.58 yen from Thursday's 111.01 yen. The euro advanced to $1.1456 from $1.1430.
Singapore, Dec 26 (AP/UNB) — Asian markets were mostly lower on Wednesday after President Donald Trump said that there was "nothing new" in efforts to end the partial government shutdown over a U.S.-Mexico border wall.
Traders had no fresh leads from Wall Street, which was closed on Christmas. U.S. stocks are headed for their worst December since the Great Depression in 1931.
KEEPING SCORE: South Korea's Kospi gave up 1.6 percent to 2,022.36 and the Shanghai Composite index shed 0.1 percent to 2,503.05. Japan's Nikkei 225 index, which plunged 5 percent on Tuesday, picked up 0.5 percent to 19,241.87. Shares rose in Taiwan but fell in Singapore, Indonesia and the Philippines. Markets in Hong Kong and Australia were closed.
U.S. SHUTDOWN: The partial shutdown of the U.S. government that started Saturday shows no signs of abating. "Nothing new. Nothing new on the shutdown. Nothing new. Except we need border security," Trump told reporters. The White House said Trump will reject any deal that does not include any funding for a wall or a fence. The Democrats have opposed this and are offering $1.3 billion for security. The routines of 800,000 federal employees are expected to be disrupted by the shutdown, but essential services will keep running.
FED CRITICISM: Trump's criticism of the U.S. central bank triggered a drop in Asian equities on Tuesday. "The only problem our economy has is the Fed," the president said on Twitter. "They don't have a feel for the Market, they don't understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders." Trump has since said the hikes were a "form of safety" for an economy that was doing well, while stressing that the Fed was raising interest rates too quickly.
ANALYST'S TAKE: "The outsized moves are not reflective of the current U.S. economic landscape, but that seems to matter little so far as fear mongering continues to permeate every pocket of global capital markets," Stephen Innes of OANDA said in a market commentary.
ENERGY: Benchmark U.S. crude added 15 cents to $42.68 a barrel in electronic trading on the New York Mercantile Exchange. The contract settled at $42.53 a barrel in New York on Monday. Brent crude, used to price international oils, dropped 19 cents to $50.28 a barrel.
CURRENCIES: The dollar strengthened to 110.45 yen from 110.31 yen. The euro rose to $1.1414 from $1.1392.
Beijing, Dec 25 (AP/UNB) — Japanese stocks plunged Tuesday and other Asian markets declined following heavy Wall Street losses triggered by President Donald Trump's attack on the U.S. central bank.
The Nikkei 225 fell by an unusually wide margin of 5.1 percent to 19,147.45 points. The Shanghai Composite Index lost 2.1 percent to 2,473.75. Benchmarks in Thailand and Taiwan also declined.
Markets in Hong Kong, Australia and South Korea were closed for Christmas.
Wall Street indexes fell more than 2 percent on Monday after Trump said on Twitter the Federal Reserve was the U.S. economy's "only problem." Efforts by Treasury Secretary Steven Mnuchin to calm investor fears only seemed to make matters worse.
U.S. stocks are track for their worst December since 1931 during the Great Depression.
The market has been roiled by concerns about a slowing global economy, the trade dispute with China and another interest rate increase by the Fed.
Trump's Monday morning tweet heightened fears about the economy being destabilized by a president who wants control over the Fed. Its board members are nominated by the president, but they make decisions independently of the White House. The board's chairman, Jerome Powell, was nominated by Trump last year.
"The only problem our economy has is the Fed," the president said on Twitter. "They don't have a feel for the Market, they don't understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can't score because he has no touch — he can't putt!"
The Standard & Poor's 500 index slid 2.7 percent to 2,351.10. The benchmark index is now down 19.8 percent from its peak on Sept. 20, close to the 20 percent drop that would officially mean the end of the longest bull market for stocks in modern history — a run of nearly 10 years.
The Dow Jones Industrial Average sank 2.9 percent to 21,792.20. The Nasdaq skidded 2.2 percent to 6,192.92.
On Sunday, Mnuchin made a round of calls to the heads of the six largest U.S. banks, but the move only raised new concerns about the economy.
Most economists expect U.S. economic growth to slow in 2019, not slide into a full-blown recession. But the president has voiced his anger over the Fed's decision to raise its key short-term rate four times in 2018. That is intended to prevent the economy from overheating.
Technology stocks, health care companies and banks took some of the heaviest losses in Monday's sell-off. Wells Fargo slid 3.4 percent, Microsoft 4.2 percent and Johnson & Johnson 4.1 percent.
U.S. markets reopen Wednesday.
In energy markets, Brent crude, used to price international oils, lost 9 cents to $50.68 per barrel in London. The contract plummeted $3.33 on Monday to close at $50.77.
In currency trading, the dollar gained to 110.15 yen from Monday's 110.45 yen. The euro advanced to $1.1417 from $1.1405.