Impact of mixed corporate earnings reports and rebound in the United States (US) economy for the 3rd quarter (Q3), equities ended the session in uncertainty.
US gross domestic product (GDP) data showing a rebound of 2.6% from -0.6% and surpassing market projections of 2.3% has restored the strengthening to the greenback.
In addition, the action of the European Central Bank (ECB) which also raised the expected rate by 75 basis points to 2% has pressured the Euro down and the dollar up.
The streak, Wall Street's main indices ended mixed with the Dow Jones up 0.61% while the S&P 500 lost 0.61% and the Nasdaq Composite fell 1.63% due to dismal corporate results.
Europe's STOXX 600 index retreated from a rebound from its September 20 high earlier in the session after ECB President Christine Lagarde's announcement of a rate hike and the MSCI global gauge fell 0.57%.
In Asia, the Nikkei 225 fell 0.98%, Topix fell 0.51%, South Korea's Kospi fell 0.44%, Kosdaq plunged 0.67%, Australia's S&P/ASX 200 fell 0.49% and MSCI's broad gauge of Asia Pacific shares outside Japan fell 0.26%.
Commenting on the current market situation is Jeffrey Roach from LPL Financial saying the US is far from a recession based on the strengthening of its consumer sector but growth prospects are seen as still weak.
Also giving a view from across the embankment was Altaf Kassam, head of EMEA investment strategy, who put the ECB's forecast to be less aggressive with an increase of only 50 basis points in December.
In the meantime, Treasury yields are seen continuing to retreat from the highest level with the 10-year note falling below 4%.
As for commodities, oil prices remained in upward momentum with Brent up 1.3% at $96.96 while WTI oil jumped 1.3% at $89.08.
