FTSE 100 seen falling 1% ahead of Thursday’s open as global equities capitulate

The FTSE 100 is set to start Thursday about more than 1% lower as equity markets struggle amidst absent stimulus for the United States. London’s blue-chip benchmark is seen some 67 points lower by CFD trading group IG which makes a price of 5,838 to 5,841 with just over an hour to go until the open. Fed chair Jerome Powell conveyed a downbeat assessment of the US economy as the US congress has yet push out fiscal changes that central bankers see as needed. “The main problem the Fed has is that US politicians appear more interested in fighting an election campaign than helping to pass a new stimulus plan which would help the American people, and this much more gloomy assessment appears to have once again undermined sentiment in what is turning out to be a very fickle investment climate,” said Michael Hewson, analyst at CMC Markets. “This slide is expected to translate into a weaker start for European stocks later this morning, after Asia markets also slid lower.” On Wall Street, the Dow Jones fell 525 points or 1.92% to close at 26,7863 on Wednesday. The S&P 500 lost 2.37% to 3,236 and the Nasdaq was 3.02% lower finishing at 10,632. In Asia, Japan’s Nikkei was down around 1.17% at 23,073 while Hong Kong’s Hang Seng traded 1.96% lower at 23,276. The Shanghai Composite was down 1.68% at 3,224. Around the markets The pound: US$1.2701, down 0.18% Gold: US$1,849 per ounce, down 0.64% Silver: US$21.79 per ounce, down 3.9% Brent crude: US$41.56 per barrel, down 0.38% WTI crude: US$39.71 per barrel, down 0.22% Bitcoin: US$10,277, down 1.96% 6.45 am: Early Markets: Asia / Australia Asia-Pacific markets witnessed strong selling pressure today following an overnight drop on Wall Street. The Kospi in South Korea fell 2.61% in afternoon trade after South Korea’s defence ministry said North Korea had killed a missing official from the South earlier this week. In Hong Kong, the Hang Seng index dropped 1.94% and Mainland Chinese stocks slipped, with the Shanghai composite down 1.52%. The Nikkei 225 in Japan dropped 1.14% while Australia’s S&P/ASX 200 declined 1.05% with the gold and iron ore miners losing heavily. READ OUR ASX REPORT HERE Proactive Australia news: Nanoveu Ltd (ASX:NVU) has soared after secured new sales for its B2B antiviral film and antiviral mobile phone protection product with a combined value in excess of A$250,000. Tietto Minerals Ltd (ASX:TIE) has hit up to 134.48 g/t gold within 4 metres at 35.08 g/t in drilling at Abujar-Gludehi (AG) deposit within the Abujar Gold Project in Côte d’Ivoire, West Africa, demonstrating the mineralised system's potential for continued growth. Kingston Resources Ltd (ASX:KSN) is moving rapidly towards completing a pre-feasibility study (PFS) for its flagship Misima Gold Project in Papua New Guinea in the next quarter. Vango Mining Ltd (ASX:VAN) positive results from drilling at the PHB Corridor on its 100%-owned Marymia Gold Project, 300 kilometres northeast of Meekatharra in Western Australia, have revealed a potential high-grade lode discovery. Groundbreaking research by Australian high purity alumina company Altech Chemicals Ltd (ASX:ATC) (FRA:A3Y) has identified a new alumina product and technology specifically designed for anode applications within lithium-ion batteries. Musgrave Minerals Ltd (ASX:MGV) has received strong assay results of up to 3 metres at 40 g/t from 83 metres in recent infill drilling at Break of Day at the flagship Cue Gold Project in Western Australia’s Murchison district. Castillo Copper Ltd (ASX:CCZ) (LON:CCZ) (FRA:7OR) has enhanced its strategy to become a mid-tier copper producer with samples from Big One deposit within the Mt Oxide pillar in northwest Queensland returning up to 33.2% copper. Eclipse Metals Ltd (ASX:EPM) has started stage-2 diamond drilling at the Amamoor manganese deposits near Gympie in southeast Queensland. Cardiex Ltd (ASX:CDX) is higher on entering a new commercial partnership agreement with consumer electronics and AI company Mobvoi to launch a new line of smartwatch with heart and arterial health management features based on the patented SphygmoCor technology of CardieX subsidiary ATCOR. Cauldron Energy Limited (ASX:CXU) (OTCMKTS:CAULF) (FRA:UFX) has made progress in identifying prospects of high value with significant potential to expand the existing mineral resource at its Blackwood Goldfield project in Central Victoria.