Global Markets dip again amid bleak China data

European stocks have tumbled on Wednesday morning, while in the U.S., equity futures went down as markets struggled to maintain Tuesday’s momentum. Elsewhere, oil prices have slipped.

The markets edged lower as S&P 500, Dow Jones Industrial and the Nasdaq all slipped- as did the Stoxx 600- coming at a time automakers and miners are reportedly weighing up sentiment in global equities and the European benchmark.

S&P 500 futures index shrank 0.1% to 2,837.50 while the Stoxx 600 Index fell 0.2%. Italian stocks reportedly fell 0.7% as France’s benchmark declined 0.4%. However, the DAX and the FTSE both edged 0.2% as the former benefited from data highlighting that Germany’s economy had grown slightly in Q1.

While European and U.S. market dipped, the Asian regional equities gauge jumped as it looked to reach its best one-day increase in over a month and a half.

The Shanghai Composite rose 1.9%, with the MSCI Emerging Markets seeing a 0.3% move. The MSCI Asia Pacific index saw a slight move at 0.5% to 155.32, which represents its largest jump in over six weeks.

Elsewhere, Treasury yields slipped 2bp to 2.39%, near March lows following the tensions caused by a deadlock in the U.S. – China trade talks. As for the yields on 10-year German bonds, the uncertainty saw them slip two basis points to negative 0.09%, the lowest since 2016.

In the currencies, the Dollar Spot Index climbed a marginal 0.05% to stand at 1,202.85. The Chinese yuan edged away from levels that had seen it close to its lowest in five months. Its offshore trading remained steady at 6.9056 per dollar.

The euro too edged higher, gaining by 0.1% to $1.1214. The dollar index measured against the other major currencies flatlined at 97.524.

The British pound (GBP) rose 0.1% to $1.2914 but remained near its 2-week lows following Brexit sentiment souring late Tuesday. The safe-haven Japanese yen gained 0.1% to change hands at 109.53 to the dollar.

The Australian dollar, however, fell to hit a level last seen in February, as the currency suffered following the disappointing China data.