A roundup of trading on major world markets:
NEW YORK – Wall Street stocks have finished a volatile week sharply lower following a disappointing US economic growth report and worrisome data on eurozone inflation.
The Dow Jones Industrial Average slumped 251.90 points (1.45 per cent) to close Friday at 17,164.95.
The broad-based S&P 500 sank 26.26 (1.30 per cent) to 1,994.99, while the tech-rich Nasdaq Composite Index fell 48.17 (1.03 per cent) to 4,635.24.
US economic growth came in at an annual rate of 2.6 per cent in the fourth quarter, well below the 5.0 per cent in the prior quarter, according to Commerce Department data.
Analysts also pointed to the drag from a eurozone inflation report, which showed consumer prices fell by a record 0.6 per cent in January, raising fears deflation is taking hold in the region.
LONDON – European stock markets closed down, as deflation worries deepened for the eurozone, which was locked in crucial talks with Greece over a possible restructuring of debt.
London’s benchmark FTSE 100 index ended the week down 0.90 per cent on Friday at 6,749.40 points.
Frankfurt’s DAX 30 index shed 0.41 per cent to 10,694.32 points, and in Paris the CAC 40 fell 0.59 per cent to 4,604.25 points.
Plummeting world oil prices were largely to blame for the fall in the 19-country eurozone, already beset by weak economic growth and high unemployment, the EU’s data agency Eurostat said.
The euro weakened to $US1.1296 from $US1.1317 late in New York on Thursday.
HONG KONG – Asian stock markets were mixed, with Tokyo’s main index rising as traders took heart from news employment hit its lowest level since 1997, despite a slowdown in inflation and weak consumer spending.
The benchmark Nikkei-225 index on the Tokyo Stock Exchange rose 0.39 per cent, or 68.17 points, to 17,674.39 at the close, with traders buoyed by a weaker yen, which boosts Japanese exporters.
Sydney gained 18.82 points, or 0.34 per cent, to close at 5,588.3 while Seoul finished flat, closing down 1.76 points at 1,949.26.
But in mainland China, shares closed the week nearly four per cent lower, pressured by concerns about market liquidity and regulatory inspections of margin trading, dealers said.
The Shanghai Composite index fell 1.59 per cent, or 51.95 points, to 3,210.36 while Hong Kong declined 0.36 per cent, or 88.8 points, to 24,507.05.
WELLINGTON – The NZX 50 Index fell 15.818 points, or 0.3 per cent, to 5,743.995.
