Global market update: US stocks end mostly flat on mixed earnings

The S&P 500 closed at 4,154.69, down 0.18 points. The Dow Jones Industrial Average closed down 0.23% at 33,898.92. The Nasdaq Composite closed up 0.03% at 12,157.49.

Netflix stock fell after reporting lower-than-expected earnings. Shares of Abbott Laboratories, United Airlines and Western Alliance Bancorp rose after reporting better-than-expected first-quarter results.

Currencies

The US dollar rose to 134.73 Japanese yen from 134.08. The greenback fell from 1.0972 to 1.0953 to the euro.

Canada

Canada’s Toronto Stock Exchange’s S&P/TSX Composite Index closed at 20,680.83, down 3.85 points.

european shares

European shares tumbled on Wednesday as inflation worries and further interest rate hikes dragged on.

The pan-European STOXX 600 index fell 0.1%.

Britain’s annual inflation rate fell to 10.1% in March from 10.4% in February. Britain’s consumer price inflation is among the highest in Western Europe.

High inflation could prompt another interest rate hike from the Bank of England.

Britain’s FTSE 100 fell 0.1% to close at 7,898.77. Germany’s DAX lost less than 0.1% at 15,895.20. France’s CAC 40 rose 0.2% to 7,549.44.

Euro area inflation eased in March, but underlying readings remained persistently high, raising concerns at the ECB about the persistence of price pressures.

Asia

Asian shares closed mostly lower on Wednesday.

Hong Kong’s Hang Seng index closed at 20,367.76, down 1.4%. In China, the Shanghai Composite index closed down 0.7% at 3,370.13. South Korean benchmark Kospi rose 0.16% to close at 2,575.08.

Japan’s Nikkei 225: closed down 0.2% at 28,606.76.

Australia’s S&P/ASX 200 index was up 0.1% at 7,365.50. New Zealand’s benchmark S&P/NZX 50 index rose 0.3% to close at 11,917.82.

crude oil

Oil declined 2% on fears that the US Federal Reserve would raise rates again sharply, which would reduce demand.

Brent crude for June delivery fell $1.65 to $83.12 a barrel on Wednesday. Benchmark US crude for May delivery fell $1.70 to $79.16 a barrel.

bullion

Gold for delivery in June fell $12.40 to $2,007.30 an ounce. Silver for May delivery rose 11 cents to $25.37 an ounce.