Wall Street braces for big losses as global stocks sink
Stock markets in Asia tumbled Thursday after Wall Street saw wild swings Wednesday before ending down 173 points.
The jitters in global markets have been triggered in part by fears that major economies around the world are seeing slowing growth.
The prospect of the Ebola outbreak in West Africa spiraling out of control is also weighing on the minds of investors.
Tokyo's Nikkei 225 index dived 2.3% Thursday. Hong Kong's Hang Seng index dropped 0.6%. China's Shanghai Composite index bucked the trend to trade 0.6% higher.
'Traders might be counting on a rebound in the Dow tonight after five straight sessions of losses which has eroded nearly 1,000 points on the Dow,' said Desmond Chua, analyst at CMC Markets in Hong Kong. 'The greenback fell steeply against the majors following weak data which suggests the global slowdown is taking its toll on the largest economy in the world.'
U.S. stock futures rose modestly several hours ahead of Thursday's opening bell on Wall Street. In recent pre-market sessions, early gains for the Dow, S&P 500 and Nasdaq have evaporated by the market open.
On Wednesday, the Dow fell 460 points, before clawing back about half of that loss to end down 1%. The S&P 500, after an early slump of 3%, ended off 0.8%. The tech-laden Nasdaq, beaten down 2.6% in morning trading, closed 0.3% lower.
In notable corporate news Thursday, Apple is set to present its newest iPads.
Contributing: Adam Shell, Gary Strauss; Associated Press
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