Stock market today: World shares track slump on Wall St triggered by strong US spending data
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World shares skidded following a slump on Wall Street after a report showed American shoppers spent more at retailers last month than expected. U.S. futures edged 0.1% lower early Tuesday. In Europe, Germany’s DAX lost 1.4% to 17,767.98 while the CAC 40 in Paris declined 1.2% to 7,945.68. In London, the FTSE 100 was down 1.5% at 7,848.89. The Chinese government reported that the economy grew at a surprisingly fast 5.3% annual rate in the first quarter of the year. The Shanghai Composite index lost 1.7% to 3,007.07, while the Hang Seng in Hong Kong lost 2.1% to 16,248.97. Tokyo’s Nikkei 225 fell 1.9% to 38,471.20. The euro was unchanged at $1.0626. In the oil market, a barrel of U.S. crude for May delivery slipped 41 cents to $85.00 per barrel. Brent crude shed 34 cents to $89.76 per barrel.
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