(Bloomberg) -- Stocks slipped globally on Wednesday alongside U.S. index futures amid signs the June revival in risk appetite may have overshot with trade concerns still lingering. Treasuries gained, and crude oil headed below $52 a barrel.
The Stoxx Europe 600 index opened lower for the first time in four sessions, after shares slipped across Asian markets. Hong Kong led losses as demonstrators forced road closures in the city, while stocks dipped less in Shanghai, Tokyo and Seoul. U.S. President Donald Trump said he's personally holding up a trade deal with China and won't complete the agreement unless Beijing returns to terms negotiated earlier in the year. The dollar drifted, while Treasuries added to earlier advances across the yield curve. Gold and the yen rose as risk appetite dissipated.
Just as investor concern over protectionism and global growth seemed to ease, Trump's latest salvos at China and the Federal Reserve introduced fresh uncertainty. With the president scowling at the central bank's "way too high" interest rates in a tweet on Tuesday, traders will next focus on European Central Bank President Mario Draghi's comments in Frankfurt and later on U.S. consumer-price data for clues on the institutions' policy paths.
"With no assurance that China will meet with the U.S. on the sidelines of the G-20 later this month, trade tensions continue to fuel market uncertainty," said Nema Ramkhelawan-Bhana, an economist at FirstRand Bank Ltd. in Johannesburg. "Yet, the growing probability of Fed cuts is counterbalancing trade concerns. The matter is crucial to global growth."
Elsewhere, WTI-grade oil futures fell back toward $52 a barrel in New York after an industry report showed U.S. oil inventories swelling further. Hong Kong's dollar climbed to the strongest level since December amid signs of tightening funding costs. Turkey's lira weakened modestly as traders pondered whether an interest-rate cut will come later Wednesday.
Here are some key events coming up:
And these are the main moves in markets:
--With assistance from David Wilson, Sarah Ponczek, Vildana Hajric, Cormac Mullen and Adam Haigh.
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