World Stocks Fall As Investors Are Miffed By Bad Tech Earnings

World stocks fell on Wednesday as the earnings reporting season ramped up for big companies, with investors showing a lack of enthusiasm for the results so far.

The TWSE and PSE were forced to suspend trading as a powerful typhoon battered the two countries. I Screenshot: Taiwan Stock Exchange

Germany’s DAX lost 1.1% to 18,363.59, while the CAC 40 in Paris was down 1.6% to 7,475.17. In London, the FTSE 100 declined 0.5% to 8,126.38, the Associated Press (AP) reported.

Shares of luxury giant LVMH sank 5% in early trading as the company reported quarterly sales that missed market expectations. The futures for the S&P 500 slipped 0.8%, and those for the Dow Jones Industrial Average were down 0.5%.

In Asian trading, Japan’s benchmark Nikkei 225 slipped 1.1% to 39,154.85, with the Japanese yen trading at its highest level in weeks ahead of a Bank of Japan policy decision next week.

Elsewhere, Hong Kong’s Hang Seng lost 0.9% to 17,311.05, led by the Hang Seng Tech Index, which sank 1.5%.

The Shanghai Composite shed 0.5% to 2,901.95. Australia’s S&P/ASX 200 edged 0.1% lower to 7,963.70 after its services sector saw weaker growth in July, though manufacturing improved slightly.

South Korea’s Kospi dropped 0.6% to 2,758.71, as heavyweight Samsung Electronics plunged 2.3% after talks between the company and its largest workers’ union ended with no agreement.

Earlier this month, the workers declared an indefinite strike to pressure the company to accept their calls for higher pay and other benefits.