European stocks ended with a small loss Wednesday, the first pullback in three sessions, as bank shares declined. “Markets in Europe have again struggled to keep track of record breaking U.S. markets, rolling over into the afternoon session on the back of a selloff in bond markets and a sharp rise in the U.S. dollar,” said Michael Hewson, chief market analyst at CMC Markets UK, in a note.
Dow industrials and the S&P 500 notched a third straight record close on Wednesday, boosted in part by industrials, while the Nasdaq lagged behind in trading ahead of the Thanksgiving Day holiday. It’s the third session in a row both the Dow and the S&P 500 have turned in record closes.
Asian markets were broadly down Thursday, in response to strong overnight U.S. economic data Thursday that pointed to rate rises, more dollar strength and the possibility of more capital flight from Asia. Durable goods orders in the U.S. rose 4.8% in October from a month earlier, well above the 2.7% gain predicted by economists surveyed by The Wall Street Journal. A gauge of U.S. consumer sentiment rose in November, signaling rising confidence in the economy.