Yahoo Finance LIVE: FTSE in red and US stocks mixed as markets await Powell comments
How major markets are performing on Monday
European markets, the FTSE 100 and US markets were mixed on Monday in London, as traders hold their breath for fresh data and comments from Federal Reserve chair Jerome Powell on the central bank's interest rate thinking.
Powell is set to speak at a roundtable discussion later on today.
The FTSE 100 (^FTSE) began the session 0.2% up before falling about 1.4% by the closing bell. Meanwhile the Dax (^GDAXI) in Germany rose 1.2% before heading 1.3% lower and Paris' CAC (^FCHI) pulled back 0.6%, having risen 0.6% earlier in the session.
The more domestically linked FTSE 250 (^FTMC) was down 1.7%.
Across the pond, the three major US indexes were mixed. The S&P 500 (^GSPC) was flat and the Dow (^DJI) fell 0.3%, while the Nasdaq (^IXIC) rose 0.7% after a subdued start.
The moves come after the World Bank cut its forecast for growth in China next year and warned of slow expansion amid mounting concern over the nation's productivity slowdown. The worries underline fears that the global growth engine's troubles could spill over and affect other developed markets.
The World Bank expects China’s economic output would grow 4.4% in 2024, down from the 4.8% it expected in April. This would spell the slowest pace of growth since the 1960s.
Read more: House prices fall across the UK at fastest pace since 2009
Among other data points, the Bank pointed to lagging retail sales, stagnant house prices and increased household debt.
Elsewhere, UK manufacturing data left much to be desired, remaining firmly in contraction in September.
Output, new orders and employment were all cut back further, amid weaker intakes of new work from both domestic and overseas clients, according to S&P Global. Although the outlook for the sector remained positive overall, with 55% of companies expecting growth over the coming 12 months, the level of optimism dipped slightly over the month.
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