Global stock market sell-off resumes as Saudi sanction fears push oil higher

pulse

October 15, 2018 9:46 AM

Asian stock indexes lost as much as 1.9% in Monday's session, while European stocks nursed small falls in the first hours of trade.

Global stock markets continue to fall as risk-off environment remains strong.
Asian stock indexes lost as much as 1.9% in Monday's session, while most European stocks nursed small falls during morning trade.
US futures also point to a continuing slump in the US markets, with the Nasdaq set to start the week 0.8% lower.
Elsewhere, Saudi Arabia's stock market has rebounded after a major fall on Sunday following the threat of US sanctions over the disappearance of a prominent journalist and critic of Riyadh.

Asian markets resumed their slump on Monday, with most major indexes across the continent losing more than 1% of their value during the first session of the week, and bringing back concerns of a global market correction following several days of losses last week.

After almost a solid week of falling stocks, global markets paused on Friday, with Asia, Europe, and the US seeing a significant rebound in prices. The slump, however, looks to have resumed in Asia on Monday.

The Shanghai Composite, China's most important mainland share index, dropped 1.5% on Monday, while Japan's Nikkei 225 lost 1.9% as the risk-off environment that permeated markets last week returned.

As well as losses in Asia, futures markets are pointing to another drop in all three major US indexes when trading begins at 2.30 p.m. BST (9.30 a.m. ET). The Nasdaq looks to be the biggest faller, with futures suggesting a fall of about 0.8% at the open.

Elsewhere, Saudi Arabia's main stock market, the Taddawul, rebounded by almost 2% on Monday, following a major slump during Sunday's trading session, driven by fears that US President Donald Trump may move to impose sanctions on the Kingdom. This would be in response to the disappearance of journalist Jamal Khashoggi in the Turkish capital Istanbul last week.

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