Global stocks slide on earnings concerns. Oil out to the large US inventory build


NEW YORK (Reuters) – a gauge of stocks around the world on Wednesday after its biggest daily run-up in two years, as prospects for earnings after a warning to the European automotive sector and a Reve sour bottom edges nue Miss by IBM.

file photo: the London Stock Exchange Group offices are in the city of London, England, 29 December 2017. REUTERS/Toby Melville / file photo fell

crude futures for the first session in four, according to the US Government a much larger than expected build of in crude oil inventories showed.

the U.S. dollar increased, as the market awaited the minutes of the last meeting fed. Lower than expected UK inflation data affected Sterling gave up gains the previous day.

on Wall Street, IBM blue chips pull less one day after missed the company’s sales expectations fell 7.4 percent. On Tuesday, the S & P 500 posted biggest daily gain since the end of March.

shares extended losses when oil prices fell further.

“(indices) pull back after yesterday’s blockbuster earnings rally probably provided by the Fed FOMC minutes, in question,” said Peter Cardillo, head of market Economist at Spartan capital securities in New York.

the Dow Jones industrial average fell 266,91 points, or 1.03 percent, 25,531.51, which lost S & P 500 25,22 points or 0.90 percent to 2,784.7 and the NASDAQ Composite fell 76,18 points or 1 percent to 7,569.31.

European shares hit a one-week high in early trading, but then were a decline of 2.5 percent in an index of auto shares moved lower. Goldman Sachs said slow demand in China that could hit earnings in the area.

the Pan European FTSEurofirst 300 index lost 0.71 percent and MSCI measure of equities around the globe gained 1.71 percent.

emerging market stocks rose 1.34 percent. Broadest index MSCI Asia-Pacific stocks outside Japan closed 0.64 percent higher, while Japan’s Nikkei rose 1.29 percent.

raw slides, oil dealer of inch up

profits after a three-day run-up took DOLLAR prices, extending losses after data showed U.S. crude inventories rose more than expected.

U.S. crude fell 2.74 percent to $69.95 / barrel and Brent was last at $79,55, 2.28 percent on the day.

the euro fell 0.38 percent to $1,1529 and sterling was last quoted at $1,3134, to 0.38 percent on the day.

the Japanese Yen strengthened 0.15 percent against the greenback on the 112.09 per dollar. The dollar index rose to 0.34 percent.

minutes of the last Fed meeting due Wednesday, expectations of further tightening was supposed to support.

that Brazilian real rose against the dollar after data showed economic activity rose more than expected in August.

US Treasury yields continue to trade range bound after a massive run-up last week.

benchmark rose 10-year Notes to achieve 1/32 in price to 3.1539 percent from 3.156 percent late on Tuesday.

the 30-year bond rose to achieve 2/32 in price to 3.3278 percent from 3.33 percent late on Tuesday.

reporting by Karen Brettell, Rrigo Campos, Richard Leog in New York; Additional reporting by MEDA Singh in Bengaluru and Christopher Johnson in London; Editing our standards by David Gregorio

:Thomson Reuters trust principles.

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