Most global equities markets see declines

Most global equities markets were lower on Wednesday. The biggest declines came in Europe, where the FTSE Eurofirst 300 fell 1.5 percent to 1,588.01. In Paris the CAC-40 dropped 1.66 percent to 5,977.87, while the Dax was 2.4 percent lower to 7,730.05 in Frankfurt and in Madrid the IBEX was down 2.52 percent to 14,928.8. In London the FTSE 100 dropped 1.66 percent to 6,522.7 and the FTSE 250 was down 2.35 percent to 11,782.4. The automobile and tire manufacturing sectors were lower on the continent, while in London most retailers saw declines. Miners were lower in London as well, as were pubs operators and utilities. The few gainers on the session came in the pharmaceuticals and aerospace sectors, as well as in some banks.

The New York markets were lower at midday, for the second day in a row, as investors worried about inflation and interest rates. The Dow Jones Industrial Average dropped 0.83 percent to 13,483.23 by mid-session, while the Nasdaq Composite was 0.95 percent lower to 2,586.55 and the S&P 500 was down 0.81 percent to 1,518.52. The Russell 2000 index of small and mid-caps was also lower, dropping 0.97 percent to 840.03. Supermarkets were lower, while restaurant operators were mixed. Banks saw declines.

The few markets that gained on the session were in the Asia Pacific region. In China, the Shanghai Composite added 0.24 percent to 3,776.3, while the Shenzhen Composite was 1.9 percent higher to 1,086.22 officials continued to issue reassurances. In Tokyo, while the Nikkei 225 was 0.1 percent lower, to 18,040.93, the Topix was another exception to the general declines as it added 0.1 percent to 1,778.5. In addition, the Mothers market of small and mid-caps in Tokyo was also higher, adding 0.7 percent to 896.72. Winners in Tokyo on the session included the steel sector, while the electronics sector was lower with few exceptions. Real estate also declined on the session. Elsewhere in the Asia Pacific region, the Hang Seng index in Hong Kong dropped 0.11 percent to 20,818.61. The Sydney Ordinaries was 0.51 percent lower to 6,367.4, while in Singapore the Straits Times index fell 0.6 percent to 3,560.33. In India, the Sensex was down 1.92 percent to 14,255.93.

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