Stocks falter, bitcoin close to record high / Photo: © AFP/File
Stocks falter, bitcoin close to record high
Major stock markets mostly dropped Wednesday and bitcoin traded close to its record high with all eyes on the upcoming US presidential election.
Paris and Frankfurt equity indices slid nearing midday trading as official data showed the eurozone economy grew more than expected in the third quarter, helped by Germany dodging recession.
Outside the eurozone, London's stock market dropped awaiting the first budget Wednesday from the UK's new Labour government, with tax rises expected.
Asia's top indices closed mostly down, while in foreign exchange the dollar was mixed against main rivals.
Shares in Google parent Alphabet rose in after-hours trading following its earnings report and ahead of releases from Apple and Microsoft.
Markets are also awaiting a raft of key US economic data for more clues about the health of the world's largest economy and it how could dictate the pace of future interest-rate cuts from the Federal Reserve.
Third-quarter US growth estimates are released Wednesday, with inflation and jobs data to follow ahead of the weekend.
Bitcoin steadied, a day after striking just shy of its all-time peak of $73,797.98 achieved in March.
A recent surge in the price of bitcoin is seen as a bet on a Republican victory in next week's US vote, as Donald Trump has emerged as the pro-crypto candidate.
The outcome at the polls remains uncertain for many analysts, however, helping haven investment gold to a fresh record high of $2,789.86 an ounce Wednesday.
Oil prices rebounded slightly as volatility dominates crude trading amid twists and turns in the Middle East crisis.
"It seems as if oil prices are ignoring improving economic data in the US and stimulus efforts from China to revive its struggling economy," said Daniela Sabin Hathorn, senior market analyst at Capital.com.
- Key figures around 1045 GMT -
London - FTSE 100: DOWN 0.2 percent at 8,200.78 points
Paris - CAC 40: DOWN 1.3 percent at 7,415.43
Frankfurt - DAX: DOWN 0.7 at 19,336.35
Tokyo - Nikkei 225: UP 1.0 percent at 39,277.39 (close)
Hong Kong - Hang Seng Index: DOWN 1.6 percent at 20,380.64 (close)
Shanghai - Composite: DOWN 0.6 percent at 3,266.24 (close)
New York - Dow: DOWN 0.4 percent at 42,233.05 (close)
Euro/dollar: UP at $1.0835 from $1.0816 on Tuesday
Pound/dollar: DOWN at $1.2974 from $1.3010
Dollar/yen: DOWN at 152.87 yen from 153.57 yen
Euro/pound: UP at 83.49 pence from 83.13 pence
Brent North Sea Crude: UP 1.0 percent at $71.84 per barrel
West Texas Intermediate: UP 1.1 percent at $67.92 per barrel
burs-bcp/ajb/cw
C.Bell--TNT
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