India Morning Call-Forex Markets

EQUITIES

NEW YORK: - The S&P 500 tumbled to a more than six-month low on Thursday, closing in negative territory for the year, on concern a decelerating Chinese economy will translate into slower global growth.

The Dow Jones industrial average fell 358.04 points, or 2.06 percent, to 16,990.69, the S&P 500 lost 43.88 points, or 2.11 percent, to 2,035.73 and the Nasdaq Composite dropped 141.56 points, or 2.82 percent, to 4,877.49.

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LONDON: - Britain's top share index fell to its lowest point in seven months on Thursday, its worst losing run since 2011 as investor concerns over the global economy resurfaced.

The blue-chip FTSE 100 index dropped 0.6 percent to 6,367.89 points, its lowest level since January.

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TOKYO: - Japan's Nikkei share average dropped more than 2 percent to six-week lows on Friday morning after Wall Street tumbled as investors unloaded risky assets, hit by concerns that a slowdown in China could affect the global economy.

The Nikkei share average fell 2.2 percent to 19,594.13 in midmorning trade, the lowest level since July 9.

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HONG KONG: - The Hang Seng Index was down 2.10 percent.

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FOREIGN EXCHANGE:

TOKYO - The dollar withered near six-week lows on Friday, reflecting doubts whether the Federal Reserve will be able to safely raise interest rates next month as once expected, given accumulating signs of stress in many parts of the global economy.

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TREASURIES:

NEW YORK - U.S. Treasury yields fell Thursday after minutes from the Federal Reserve's most recent meeting offered no firm indication of how soon the Fed may raise interest rates and reducing expectations of a rate hike next month.

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COMMODITIES

GOLD:

MELBOURNE - Spot gold hits highest level in more than a month on Friday after weak factory growth in China fanned worries that the world's second largest economy may be slowing sharply, sparking safe-haven demand for the metal.

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BASE METALS:

MELBOURNE - London copper fell on Friday and was facing its seventh weekly loss, as poor factory growth in China compounded fears that its economy was worsening, eroding the demand outlook for metals.

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OIL:

NEW YORK - Oil prices resumed their downward trend in early Asian trade on Friday with the U.S. benchmark on track for its eighth weekly decline, pulled lower by weaker global stock markets and concerns over an economic slowdown in China.

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