European shares rebound but stock markets remain edgy

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Technology companies, the leading sector over the past year, and banks fell the most.

By Cormac Mullen Asian stocks fell Friday following a plunge in their United States counterparts as the dread that gripped equity markets earlier in the week re-emerged, amid concern rising interest rates will drag down economic growth.

Major indexes in Asia and Europe sank Tuesday and USA markets started sharply lower, zigzagging between gains and losses. Hong Kong's Hang Seng index rose 0.6 percent to 30,512.92, while the Shanghai Composite index lost 0.6 percent to 3,290.62.

Martin, of Globalt Investments, said he did not see anything specific moving the market lowertoday.

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The move lower will provide investors with cheaper stock valuations that are closer to historical norms and will be constructive for the market in the long term, Kenny said. Brent crude gave up 70 cents, or 1.1 percent, to $US64.81 per barrel.

Traders are still braced for more volatility as they try to figure out if the swings over the past few days are the start of a deeper correction or just a temporary blip in the USA market's nine-year bull run. Federal Reserve Chair Janet Yellen noted in her final meeting that inflation was beginning to rise, announcing that average hourly earnings rose 2.9% in January.

The Dow Jones industrial average lost 567 points right after trading began but eventually gained 567 points, adding 2.3 percent to 24,912.77.

Corrections are seen as normal occurrences, and the market, now in its second-longest bull run of all time, hasn't seen one in two years, an unusually long time. As the adage goes, the stock market takes the steps up and the elevator down. "South Korean markets started higher in the morning but investors are more anxious that USA markets will see further sell-offs tonight".

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Ireland's benchmark Iseq overall index followed suit and finished 1.58 per cent weaker, with Glenveagh, down 2.5 per cent, and CRH, down 3.06 per cent, among the losers on the index. Three months after, the index was up a bigger-than-usual 4.62%, on average, and six months after, the Dow was 11.02% higher, on average - more than triple its average anytime return!

On Wednesday, benchmark 10-year notes last fell 18/32 in price to yield 2.834 percent, from 2.766 percent late on Tuesday. The markets have been unusually calm since late 2016, and he said investors were betting that would continue.

It's unclear if the global markets are really moving in "lockstep", as some observers have suggested, but uncertainty abounds. The Nasdaq composite climbed 40 points, or 0.5 percent, to 7,003. The Dow is up 24 percent over that time, the S&P 500 18 percent. It's down 181.13 points, or 6.6 per cent, for the week.

The US dollar was barely up against a basket of currencies, paring gains as Wall Street rallied late. The euro held steady at $1.2248.

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Among the biggest losers Tuesday was the Nikkei 225, which had ended 4.7 percent lower.

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