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European stocks pulled out a modest win Thursday, as oil shares benefited from a swing higher in energy prices, somewhat alleviating pressure on markets after the Bank of Japan's decision not to launch fresh stimulus measures. Commodity and consumer goods turned higher Thursday, but losses for all sectors intraday had pushed the pan-European index down by as much as 1.5%.
The Dow Jones Industrial Average had its worst day in over two months Thursday as Apple Inc. extended its losing streak while the broader market crumbled under the combined weight of disappointing data and weak corporate earnings. The market had started off on a sour note after the Bank of Japan decided to keep its interest rates unchanged and offer no additional stimulus. Sentiment further weakened on news that U.S. gross domestic product grew only 0.5% in the first quarter, its slowest pace in two years. Economists had projected 0.7% expansion.
Shares in most Asian stock markets edged lower Friday, with gains capped by disappointment over the Bank of Japan holding back on additional stimulus and worries about global economic growth. Broad losses in U.S. stocks overnight weighed on some stock markets in Asia.
Based on MarketWatch materials
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