Global markets today: Asian stocks mixed as Nikkei gains, Hang Seng futures down; US stocks slump on growth worries

Asian markets traded mostly higher on Thursday, while US stock market ended sharply lower overnight amid concerns over economic growth. While Japanese and South Korean markets traded higher, Hong Kong markets are likely to open on a weak note.

Investor sentiment dampened after US Federal Reserve Chair Jerome Powell cautioned that US President Donald Trump’s tariff policies risked pushing inflation and employment further from the central bank’s goals. Powell also said that the Fed would wait for more data on the economy’s direction before changing interest rates.

Here's a look at global markets today:

Asian Markets

Japan’s Nikkei 225 gained 0.59% at open, while the Topix index rose 0.26%. South Korea’s Kospi index added 0.41%, while the small-cap Kosdaq rallied 1.02%. Hong Kong’s Hang Seng index futures indicated a weaker opening.

In Australia, S&P/ASX 200 gained 0.18% in early trade.

Indian Stock Market

The Indian stock market is expected to open lower amid mixed global market cues. The trends on Gift Nifty also signal a lower opening for the benchmark indices, Sensex and Nifty 50. Moreover, week-end profit booking after a sharp rally for three consecutive sessions is also likely to weigh on the Indian equities.

US Stock Market

US stock market ended sharply lower on Wednesday, weighed down by broad-based selling and comments from Federal Reserve Chair Jerome Powell, who noted US economic growth appears to be slowing, dampening investor sentiment.

The Dow Jones Industrial Average declined 699.57 points, or 1.73%, to 39,669.39, while the S&P 500 dropped 120.93 points, or 2.24%, to 5,275.70. The Nasdaq Composite closed 516.01 points, or 3.07%, lower at 16,307.16.

Declining issues outnumbered advancers by a 1.58-to-1 ratio on the NYSE. On the Nasdaq, 1,469 stocks rose and 2,964 fell as declining issues outnumbered advancers by a 2.02-to-1 ratio, Reuters reported.

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