Global stock markets retreated Friday as France and Germany reported weak factory data and the death toll from a virus outbreak in China rose further. On Wall Street, the future contracts for the S&P 500 and the Dow Jones Industrial Average both fell about 0.1%. Germany reported new manufacturing orders fell 2.1% in December and industrial production dropped 3.5% from a year earlier while France reported factory output fell 2.8%, adding to concerns over slowing growth in Europe. Markets got a boost Thursday after Beijing said it will cut duties on $75 billion of U.S. goods as part of a trade truce with Washington. Wall Street closed higher for a fourth day, propelled by gains for technology stocks and strong corporate earnings reports.

Source: International New York Times February 07, 2020 07:12 UTC