Global stocks slip as US drop fans angst over global growth
Global stocks slip as US drop fans angst over global growth
TOKYO (AP) — Global markets were mostly lower Wednesday after U.S. stocks took their biggest loss in almost a month, underscoring simmering worries about global economic growth.
Disappointment is already setting in over how the substance of Japan's 28 trillion yen ($272 billion) economic stimulus package falls far short of the hype, given that much of the money is already in the pipeline.
THE QUOTE: "The forex markets have been in risk-off mode over the past day, as concerns grow about Japan's woefully limited economic package and as oil prices plunge, stoking fears that global growth is stagnating," said Stephen Innes, senior trader at Oanda Asia Pacific.
Benchmark U.S. crude added 24 cents to $39.75 a barrel in electronic trading on the New York Mercantile Exchange.