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Stock markets are broadly stable on Wednesday, as investors gasp after a roller coaster start in 2019.
After three weeks of sharp declines, stocks – especially Asian stocks – froze on Wednesday, with no major Chinese index at more than 0.1% during the day. In Europe, things are a little more exciting, although most indices deal with losses not exceeding 0.5%.
The pause in equities comes after a week earlier in which the IMF has lowered its global growth forecast and a false report that the United States have canceled new trade negotiations with China scheduled for late January.
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"The stock rally for four weeks seems to have taken a break, with a relative lack of strong news feeds likely contributing to the profit taking we see," said Craig Erlam, Senior Market Analyst at Oanda.
"We seem to be using a lot of speculation at the moment, especially with regard to trade negotiations between the United States and China, which makes the formation of a judgment all the more difficult."
Here's what things look like around 9:00 am GMT, about an hour after the opening of the European competition:
- Asian stocks were flat like a pancake Wednesday, the biggest move coming from Japan Nikkei, which fell by 0.14%. Movements in China were even smaller, with the Shanghai composite close 0.05% higher, and the China A50 drop of 0.09%.
- At the beginning of the negotiations in Europe, the situation was a little less calm and some European indices recorded losses of up to 0.6%. From Great Britain FTSE 100 was the biggest loser, down 0.63%, while Germany DAX was down around 0.4%. Elsewhere, losses peaked at 0.2%.
- The futures indicated that the market would remain calm in the United States, with the three US indexes posting gains of about 0.1% at the open on Wednesday.
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