European stocks close higher as Wall Street dips
- European and Asian markets ended the day with gains on Tuesday, while major US indexes slipped lower amid cautious trading.
- Investors monitored US Treasury yields and worried about the US budget deficit after Moody's downgraded the US credit rating last Friday.
- Asian markets gained as China cut interest rates to historic lows to stimulate growth amid trade tensions and a spending slump.
- Chinese battery manufacturer CATL made a strong debut on the Hong Kong market, with shares rising over 16 percent and raising $4.6 billion in what has become this year’s largest IPO globally.
- The market showed resilience despite the Moody's downgrade and ongoing political debates, including a tax cut proposal discussed by President Trump with House Republicans.
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European stocks close higher as Wall Street dips
European and Asian stocks closed higher on Tuesday while Wall Street was trading slightly lower, without any major economic data to set a firm direction.
·Cherokee County, United States
Read Full ArticleWall Street dips but European stocks rise #Canada #Canadian #CanadaNews #CanadaNewsToday
Wall Street stocks fell Tuesday, taking a breather from a recent market rally and digesting a US credit rating downgrade, while European and Asian shares rose as China cut interest rates to historic lows. The dollar strengthened a little against major currencies, just ahead of a meeting of G7 finance ministers in Canada that will discuss global economic conditions, as well as seeking a common position on Ukraine. The Chinese central bank move, w…
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