Asian stock markets chop and
European shares thrashed to find grip on Tuesday as investors digested the outcome
of the third quarter earnings season and last week s strong signals from
the U.S. jobs market.
More
than 1 percent falls in Hong Kong .HSI and South Korea .KS11 led Asian markets
to one-month lows .MIAPJ0000PUS as the prospect of a rise in U.S. borrowing
costs and slower world growth haunted developing markets.
European
stock exchanges started with some watchful gains before inching back into the
red, and the euro was back on the defensive as investors bet the U.S. Federal
Reserve would move next month, driving the dollar broadly higher.
"People
are a little nervous because the macro signals are so mixed," said Andy
Sullivan, a portfolio manager with Swiss investment firm GL Financial Group.
"The
weak revenues we ve seen on aggregate in the earnings season are obviously
a sign of concern. Growth is both tepid and fragile. But profits were better
and that says to me that companies have got themselves in better shape."
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