Asia stocks dropped on Tuesday and European equity futures fell as a senior Chinese official expressed wariness about the risk of asset bubbles in foreign markets and a recent bond market sell-off still weighed on investor sentiment. European markets appeared set for a lower open with Euro Stoxx 50 futures down 0.38% and London s FTSE dropping 0.4%. Those of Germany s DAX fell 0.49%. MSCI s broadest index of Asia-Pacific shares outside Japan slipped 0.33%, giving up early gains. Japan s Nikkei was down 0.85% as some investors booked profits on defensive energy and utility shares before the end of the fiscal year this month. Australian shares ended marginally lower on Tuesday as the market appeared to show a muted response towards the central bank s decision to stand pat on interest rates, as expected.
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the dysfunction is over for a while. the humiliating budget fights. that s a good story. the second story that is very important for the markets is that deficits are headed significantly higher. i have been arguing for a while if there is a problem with the economy, it could overheat with all of the stimulus and tax cuts and more spending. tight labor market. global growth. you are now in the situation where the bond market which began the stock market selloff. the bond market is worried about the economy which may get too hot. all of the stimulus. it is the wrong time for the stimulus? in 08 and 09, it was needed. they didn t want to do it then. now the economy doesn t need it, they want it. the dow down 866 points or 3.5% since the tax cut legislation was signed into law.
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the president compares democrats with people trying to overthrow the government all because they would not stand to applaud during the state of the union. welcome back to early start. i m christine romans. i m dave briggs. the way i watched the super bowl. is that how you watched? kind of. i don t know who is the winner in the end. we shall see in the hours ahead. investor concerns not quieting yet after monday s epic selloff on wall street. the dow with the biggest single day-point loss ever. futures are wall street rebounding after falling sharply overnight. we re fortunate to have the chief financial correspondent here every morning with the drop and how long it will last. the stock market selloff is not over yet. we can see what is happening in world markets. the wall street plunge is rippling around the globe. asia markets. tokyo and shanghai.
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hundreds of billions, if not trillions of dollars, that s going to come back and that s going to create infrastructure and create jobs. reporter: 2016 ends with a businessman preparing to enter the white house and already making his mark on business in america. a deal to keep jobs in the u.s. with air conditioner company, carrier. a threat to pull a government deal with boeing if their costs didn t come down. and a japanese businessman pouring $50 billion in investments in the u.s. because donald trump won. 2016 began with the worst stock market selloff ever. trillions lost in the first two weeks of the year. but it is ending near all-time highs. business was big in 2016. maria bartiromo. marimaria, a powerful winte storm causing trouble in the northern great plains. emergency officials telling people to stay off the roads. too dangerous out there. a lot of folks have already lost power. it could be a while before
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