Asian shares were mixed Wednesday as reports of dismal company earnings add to pessimism over the widespread economic fallout from the coronavirus pandemic.
Tokyo's Nikkei 225 index lost 1.2% to 22,397.11 after Fitch Ratings downgraded its outlook for Japan to "negative" from "stable."
The pandemic is the primary concern, as secondary outbreaks raise the likelihood of further lockdowns to curb a resurgence in countries that had thought to have the virus under control, said Jeffrey Halley of Oanda. The Federal Reserve began a two-day meeting on interest rates Tuesday, with an announcement scheduled for Wednesday. Investors largely expect the central bank to keep short-term rates at their record, near-zero low, but they're also looking to hear what it says about how long they may stay there.
This week marks the heart of earnings reporting season for the S&P 500, and several big companies gave results that fell short of analysts' already lowered expectations as the pandemic stole customers away and increased some costs.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks drift lower on Wall Street as gold hovers near recordStocks are drifting lower on Wall Street Tuesday following a mixed set of earnings reports from big U.S. companies.
Read more »
World shares slip, gold retreats from record highWorld shares turned lower on Tuesday and the price of gold retreated from a record high as investors kept an eye on economic stimulus measures and corporate earnings.
Read more »
Stocks drift lower on Wall Street as gold hovers near recordStocks are drifting lower on Wall Street Tuesday following a mixed set of earnings reports from big U.S. companies.
Read more »
PGA Tour's Canadians inspiring each other with recent run of success - Sportsnet.caWeek in and week out on the PGA and Korn Ferry Tours, Canadians are in the mix for titles and inspiring each other to greater heights. 'The guys want another Canadian to do great and everyone is pushing each other. It’s never been better.' (adam_stanley)
Read more »