Stocks worldwide are selling off on Friday as rising coronavirus cases and U.S. election leads to investor caution. Asian markets have tumbled, while European markets are inching lower in Friday's trade. Dow and S&P 500 futures are trading lower by 1.16% each on the last check, after closing in green on Thursday. WTI crude futures are trading higher by 0.39% to $36.31.Wall Street closed higher on Thursday in anticipation of major tech companies reporting earnings after market close.Asia: Japan's Nikkei 225 benchmark fell 1.52%, closing lower for the fifth consecutive session. Japan's unemployment rate for September remained unchanged at 3%.The consumer price index for October fell 0.3% year-over-year, while the core CPI fell 0.5%. Industrial production improved 4% month-over-month in September.China's Shanghai Composite benchmark fell by 1.47%. All sectors except technology plunged on Friday. Investors will be watching manufacturing and non-manufacturing PMI data late Friday.Hong Kong's Hang Seng Index tumbled 1.95% after its third-quarter GDP fell 3.4% YoY.South Korea's KOSPI index rammed 2.56% despite its industrial production growing 8% YoY in September.India's Nifty 50 index closed lower by 0.24%. The country's fiscal deficit widened to ₹9.1 trillion, and its infrastructure output fell 0.8% YoY in October.Europe: Euro Stoxx 50 benchmark is trading higher by 0.16% after Europe's third-quarter GDP jumped 12.7% QoQ and fell 4.3% YoY, much better than consensus. The unemployment rate remained unchanged at 8.3% in September, while the core CPI for October fell 0.3% YoY.London's FTSE 100 index is trading lower by 0.25%, down for the fifth consecutive session. The index is dragged lower by consumer stocks, partially offset by gains in energy and tech stocks. The nation's home price index improved by 5.8% YoY in October.Germany's DAX is down by 0.16% at press time. Germany's third-quarter GDP fell 4.1% YoY but improved 8.2% QoQ, faring much better than anticipated.France's CAC 40 index is trading higher by 0.07%, and Spain's IBEX index is up 0.17% at press time.Forex Trading: U.S. Dollar Index futures are down marginally by 0.03% to 93.942. The dollar has gained 0.06% against the Euro to $1.1667 but lost 0.15% against the Sterling to $1.2946. The Japanese Yen has gained 0.14% against the dollar to ¥104.47.For news coverage in Italian or Spanish, check out Benzinga Italia and Benzinga España.See more from Benzinga * Click here for options trades from Benzinga * Starbucks Foresees Revenue And Margin Recovery By 2021 * 5 Biggest Tech Companies Took 18% More Revenue Last Quarter: WSJ(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
European stock markets traded lower Friday, ending the week with confidence at a low ebb given fears of more economic damage from fresh Covid-inspired lockdowns while the earnings deluge continues. At 3:50 AM ET (0850 GMT), the DAX in Germany traded 0.6% lower, the CAC 40 in France fell 0.2%, while the U.K.'s FTSE index climbed 0.2%. Such fears are overshadowing a set of third-quarter gross domestic product data that have beaten expectations in Germany, Spain and France.
Economic data from the Eurozone and U.S politics will be key drivers today, though COVID-19 will continue to be an area of focus.