Stocks in Europe followed Asian peers lower as investors began to switch their attention away from the Federal Reserve and back to earnings and the outlook for global trade. The dollar dropped after rising for three days.
European shares retreated following Wednesday’s rally, with insurance companies leading the decline and most industry groups in the red. In Asia, Hong Kong stocks underperformed just as Chinese smartphone maker Xiaomi Corp. filed for what’s expected to be the world’s biggest IPO since 2014. The yield on 10-year Treasuries edged higher as the greenback slid from its highest since January.
The Stoxx Europe 600 Index fell 0.2 percent as of 8:06 a.m. London time, headed for the largest fall in more than a week. The U.K.’s FTSE 100 Index decreased 0.1 percent, the first retreat in more than a week. Germany’s DAX Index fell 0.1 percent, the first retreat in more than a week.
The MSCI All-Country World Index dipped 0.1 percent to the lowest in more than a week.
The MSCI Emerging Market Index decreased 0.7 percent to the lowest in more than a week. The MSCI Asia Pacific Index dipped 0.3 percent to the lowest in a week.