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Japan Nikkei falls 1%

Japan Nikkei falls 1%
business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.

Global stocks mostly follow crude, yields lower; tech shakes it off

By Alwyn Scott NEW YORK (Reuters) - Global stocks mostly fell Tuesday along with bond yields and crude prices, as China s latest tech crackdown and expectations of a hawkish Fed report on Wednesday waved red flags at investors. The dollar edged higher. The tech-heavy Nasdaq Composite index withstood the stocks downdraft. After falling nearly 1% by mid-day, it rallied to close up 24.32 points, or 0.17 percent, at 14,663.64. Earlier, Chinese regulators cracked down on U.S.-listed ride-hailing company Didi Global Inc, sending its shares down more than 20%. Other U.S.-listed Chinese e-commerce firms, including Alibaba Group, Baidu Inc and JD.com, fell 3.5% to 4.6%.

Oil prices steady after steep drop as market awaits OPEC+ clarity

TOKYO (Reuters) - Oil prices steadied on Wednesday after a steep drop in the previous session, following the cancellation of talks among OPEC+ producers that raised the prospect that the world s major crude exporters will turn on the taps to gain market share. Brent crude was up 3 cents at $74.56 a barrel by 0115 GMT, after slumping more than 3% on Tuesday. U.S. oil was up 7 cents at $73.44 a barrel, having declined by more than 2% in the previous session. Energy ministers from OPEC+, a grouping that includes the Organization of the Petroleum Exporting Countries (OPEC) along with Russia and other oil producing countries, ended talks on supply policy on Monday.

Oil Futures Tumble After Hitting Near 7-year High, Settle Sharply Lower

Oil Futures Tumble After Hitting Near 7-year High, Settle Sharply Lower Crude oil futures settled sharply lower on Tuesday as prices plunged after hitting a near 7-year high, amid uncertainty about the major oil producers’ possible take on their production policy. The Organization of the Petroleum Exporting Countries and its allies were originally scheduled to decide on increasing crude production last Thursday. However, the meeting got postponed to the following day, and was subsequently abandoned due to disagreement between Saudi Arabia and the UAE over output hike. The United Arab Emirates agreed to go along with output increases but rejected a separate proposal to extend curbs to end-2022.

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