Global stocks recoil from Trump worries, Spain terror attacks

Friday,   18-Aug-2017   04:29 PM (IST)

Risk-off trade prevailed on Friday after Wall Street closed a day earlier with its largest daily decline in three months.Concerns over a Trump administration meltdown continued to dampen risk sentiment as the U.S. President scrapped plans for a third business panel, putting in doubt his ability to push through infrastructure plans or tax proposals.Also dampening sentiment, was a new bout of terrorist attacks in Spain. In Barcelona, a van rammed into tourists on Thursday evening, killing at least 13 people and injuring 100 others.Further down the Spanish coast, police took down five suspects in a shootout in Cambrils on Friday in response to what was another planned attack related to the Barcelona incident.Asian stocks closed mostly lower Friday as equities followed the risk-off scenario set in motion by Wall Street. The Nikkei 222 ended the day off 1.2%.European shares also traded lower on Friday as airlines and other travel industry stocks were hit by worries over the terrorist attacks.U.S. futures pointed to a flat open with mixed trade.The blue-chip Dow futures slipped 9 points, or 0.04%, S&P 500 futures edged down 1 point, or 0.03% while the Nasdaq 100 futures inched up 5 points, or 0.09%.