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Recent stock upturn fizzles out after Moody's downgrades China

Germany's DAX was down 0.1%, France's CAC 40 was flat and Britain's FTSE 100 was up 0.1%

Reuters  |  London 

World stocks inched lower on Wednesday after China's sovereign credit rating was downgraded and as investors eyed a pause in Wall Street's four-day winning streak, the longest in over three months. The dollar and bond yields were steady, with investors growing gradually more confident that the Federal Reserve will raise US interest rates next month, while oil rose for a sixth straight day in anticipation of an OPEC-led output cut on Wednesday that may be extended to the first quarter of 2018. The biggest loser among major currencies was the Australian dollar, which is ...

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First Published: Wed, May 24 2017. 15:52 IST