- Meta shows strong growth as AI spending surges
- Microsoft beats expectations, but AI concerns force shares down
- Argentina hit by massive transport strike
- New Zealand rolls eyes at Joe Marler's haka jibe before England Test
- Man Utd hit five to start life after Ten Hag, Man City out of League Cup
- Inter keep pace with Napoli as stuttering Juve lose ground again
- Musiala hits hat-trick as Bayern cruise into German Cup last 16
- Man Utd hit five to start life after Ten Hag, Arsenal, Liverpool into League Cup quarters
- New Hezbollah chief says open to truce with Israel if offer is made
- Spain’s warning system under scrutiny as flood toll rises
- Stocks mostly retreat, bitcoin close to record high
- I'll be back-ing Kamala: Schwarzenegger says supporting Harris
- France court jails ex-doctor in latest Rwandan genocide trial
- Champions Inter Milan thump Empoli in Serie A
- Johnson the inspiration for England's Itoje as All Blacks lie in wait
- US, S.Korea call for North to withdraw troops from Russia
- In hurricane-hit N.Carolina, voters find a way to cast ballots
- Yankee fans who interfered with Betts grab barred for game five
- Spain races to save victims as floods kill 95
- Lebanon hospital's burns unit bears scars of Israel-Hezbollah war
- Migrant dies trying to cross Channel, three more bodies found
- Spain races to save victims as floods kill 73
- Smog-beset Pakistan megacity curbs rickshaws, restaurants
- England captain Stokes's house burgled by masked robbers while family inside
- McDavid will miss 2-3 weeks with ankle injury for NHL Oilers
- Brussels hopes to advance Ukraine, Moldova entry talks in 2025
- Georgia president refuses prosecutors' summons after alleging vote-rigging
- First case of latest mpox variant detected in UK: health authority
- I'll be backing Harris: Schwarzenegger endorses Democratic ticket
- Stocks diverge, bitcoin close to record high
- Harris fends off 'garbage' fallout, Trump pushes 'cheating' claims
- 'Peace among ourselves' crucial to save nature: UN chief
- French court acquits man who killed incurably ill wife
- New Hezbollah chief open to truce with Israel if offer is made
- Brazil trial begins over murder of iconic activist Franco
- Russia eats away at territory, and Ukrainian morale
- Trump's election fraud claims raise alarms of 2020 repeat
- Spain races to save victims as floods kill 72
- UK's Labour govt hikes taxes in first budget
- Medvedev loses to Australian Popyrin at Paris Masters
- Germany dodges recession but inflation rises sharply
- Harris seeks distance from Biden 'garbage' comments
- Spain races to save victims as floods kill 64
- Riyadh Air orders 60 Airbus planes
- US economic growth solid despite slight slowdown as election nears
- Eurozone economy grows more than expected
- UBS smashes forecasts with $1.4 bn net profit
- Chinese EV giant BYD beats Tesla in quarterly revenue for first time
- US economic growth solid but below expectations as election nears
- Jurgen Klopp to target player welfare in Red Bull role
Stocks mostly retreat, bitcoin close to record high
Stock markets largely fell Wednesday as investors digested a mixed bag of economic data and corporate reports, while bitcoin traded close to its record high ahead of the US presidential election.
The three main US stock indices lost ground while major European markets closed sharply lower as well.
Google-parent Alphabet was up almost three percent in New York after reporting positive results Tuesday, but that was outweighed by disappointing results and guidance from tech company AMD, down more than 10 percent, and drugmaker Eli Lilly, down more than six percent.
Microsoft shares gained 0.4 percent and Facebook-parent Meta lost 1.2 percent in after-hours trading, following earnings report after the closing bell.
On the economic front, the US economy grew at a healthy 2.8 percent annual rate in the third quarter, even if it undershot analyst expectations and slowed slightly from the previous three months.
"While the initial Q3 GDP report missed economists' expectations, the miss was minor and reaffirms that the US economy remains on solid footing," according to eToro analyst Bret Kenwell.
On Thursday, the Federal Reserve's favored inflation measure will be released, while the monthly labor market report comes Friday.
In the eurozone, Paris and Frankfurt closed down more than one percent.
"Investors are in no mood to increase their exposure to equity markets, given the lack of a clear lead from the US where consolidation seems to be the order of the day," said David Morrison, analyst at Trade Nation.
The eurozone economy grew a better-than-expected 0.4 percent in the third quarter, the bloc reported Wednesday. But the spurt was largely due to one-off factors such as the Olympics, and next quarter's report may not be so rosy, said Fawad Razaqzada, analyst at City Index.
"Recent forward-looking surveys have been far from great, suggesting that the eurozone economy remained sluggish at the start of Q4," he said.
Outside the eurozone, London's stock market dropped, though less than Paris and Frankfurt, as the UK's new Labour government said it would raise taxes by 40 billion pounds and that the deficit will shrink next year.
UBS shares slumped more than four percent after the Swiss bank highlighted a gloomy economic outlook despite making healthy profits in the third quarter.
Asia's top indices closed mostly down, while in foreign exchange the dollar was mixed against main rivals.
Bitcoin steadied, a day after striking just shy of its all-time peak of $73,797.98 achieved in March.
A recent surge in the price of bitcoin is seen as a bet on a Republican victory in next week's US vote, as Donald Trump has emerged as the pro-crypto candidate.
The outcome at the polls remains uncertain for many analysts, however, helping haven investment gold to a fresh record high of $2,789.86 an ounce Wednesday. The economic programmes of both candidates are expected to add greatly to the US debt load.
Oil prices rebounded after a surprise decline in US petroleum reserves, even though concerns persist about whether there will be enough takers for an expected increase in global crude production next year.
"It seems as if oil prices are ignoring improving economic data in the US and stimulus efforts from China to revive its struggling economy," said Daniela Sabin Hathorn, senior market analyst at Capital.com.
- Key figures around 2035 GMT -
New York - Dow: DOWN 0.2 percent at 42,141.54 points (close)
New York - S&P 500: DOWN 0.3 percent at 5,813.67 (close)
New York - Nasdaq Composite: DOWN 0.6 percent at 18,607.93 (close)
London - FTSE 100: DOWN 0.7 percent at 8,159.63 (close)
Paris - CAC 40: DOWN 1.1 percent at 7,428.36 (close)
Frankfurt - DAX: DOWN 1.1 at 19,257.34 (close)
Tokyo - Nikkei 225: UP 1.0 percent at 39,277.39 (close)
Hong Kong - Hang Seng Index: DOWN 1.6 percent at 20,380.64 (close)
Shanghai - Composite: DOWN 0.6 percent at 3,266.24 (close)
Euro/dollar: UP at $1.0861 from $1.0816 on Tuesday
Pound/dollar: DOWN at $1.0861 from $1.3010
Dollar/yen: DOWN at 153.35 yen from 153.57 yen
Euro/pound: UP at 83.75 pence from 83.13 pence
Brent North Sea Crude: UP 2.0 percent at $72.55 per barrel
West Texas Intermediate: UP 2.1 percent at $68.61 per barrel
Y.Nakamura--AMWN