NEW YORK, Dec 17 ― World share markets were mixed yesterday, with European shares rising after Britain and Norway hiked interest rates and the ECB trimmed its super-sized bond buying programme, while global markets struggled to maintain direction a day after the US Federal Reserve sped up the pace of tapering.
The Nasdaq ended the day sharply lower as the Federal Reserve's decision to taper sooner than previously stated pushed investors toward more economically sensitive sectors and away from growth and technology stocks. The Dow Jones Industrial Average fell 0.08 per cent to end at 35,897.64, while the S&P 500 lost 0.87 per cent to 4,668.67. The Nasdaq Composite dropped 2.47 per cent to 15,180.44.
Data out yesterday showed the number of Americans filing new claims for unemployment benefits increased moderately last week, though they remained at levels consistent with tightening labor market conditions. The ECB in Frankfurt said it would cut its bond purchases under its €1.85 trillion Pandemic Emergency Purchase Programme next quarter and wind down the scheme by March in a long-flagged move.
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