Stock Markets Soft As Growth Data Disappoint

NEW YORK, , (UrduPoint / Pakistan Point News - 29th Apr, 2017 ) - Global stocks dipped Friday following lackluster American, British and French economic growth data, as worries about North Korea and other geopolitical hotspots weighed on investor sentiment.

Analysts said traders were edgy about North Korea after President Donald Trump was quoted as saying there was "a chance" of "a major, major conflict" with the country. Art Hogan, chief market strategist at Wunderlich Securities, said investors were reluctant to commit additional funds ahead of the weekend, much like last week, when skittishness ahead of the French presidential election depressed equities.

"It's very typical of the last three or four weeks.

Friday afternoon seems to be the unwind day," he said. "By that, I mean no one wants to take a big bet when you're heading into the weekend." US economic growth in the first quarter came in its lowest in three years at just 0.7 percent, according to preliminary government data, well below analyst expectations for 1.1 percent GDP growth.

Britain's economic growth slowed in the first quarter to just 0.3 percent, the weakest pace in a year, as the country prepares for a general election ahead of its planned exit from the EU. "With high inflation and slumping consumer demand, there is much to worry about with the UK economy at present," said David Lamb, head of dealing at FEXCO Corporate Payments.