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What global markets looked like last week?
Global financial markets ended the week on a mixed note. In the US, the Dow industrials ended the week down 0.4%, while the S&P 500 declined 0.1%. It was their biggest two-week declines since mid-August, when worries about rising tensions between North Korea and the US weighed on stocks. Debate over the prospect of a significant tax overhaul in the US has swung stocks this week.
European equities ended the week lower on the back of disappointing corporate earnings and euro strengthening. Europe’s major indexes began the week in the red, briefly rose midweek on the back of some encouraging economic data, but then receded again by the end of the week.
Japanese stocks declined for the week, ending a nine-week stretch of consecutive gains for the benchmark Nikkei 225 Stock Average. The Nikkei fell by 1.3% and closed at 22,397.
Back home, benchmark indices in India bounced back on Friday and ended the week on a positive note. This on the back of a sovereign ratings upgrade of the Indian government’s bonds by the US credit rating agency Moody’s. The BSE Sensex ended the week marginally higher by 0.1%.