Updated from 1:42 a.m. EDTAsia stocks, a day after rallying strongly on news of the U.S. government's bailout of mortgage companies Fannie Mae ( FNM)and Freddie Mac ( FRE), fell back Tuesday as unease about the slowing global economy remains. Japan's Nikkei 225 Stock Average closed down 223 points, or 1.8%, to 12,400.65, while the Hang Seng index in Hong Kong fell 311 points, or 1.5%, to 20,482.56. European shares advanced in early trading. The FTSE 100 index rose 70 points, or 1.3%, to 5,516.60, while the DAX in Germany rose 27 points, or 0.4%, to 6,291.33. Stock futures in the U.S. turned positive and now indicate a higher opening on Tuesday. Futures for the S&P 500 rose 4 points to 1271.40, and were almost 4 points above fair value. Nasdaq futures rose 7 points to 1768.50, and were 4 points above fair value.
TheStreet’s Fundamentals of Investing Course will teach you the keys to making the right decisions in any market.
TheStreet’s Personal Finance Essentials Course will teach you money management basics and investing strategies to help you avoid major financial pitfalls.
TheStreet Courses offers dedicated classes designed to improve your investing skills, stock market knowledge and money management capabilities.
More from Opinion
Schlumberger Is a Dominant Energy Player Patiently Waiting to Shine
Despite the usual short-term headwinds, Schlumberger seems to be one of the best-positioned players in the energy services sector. Once the macro environment improves, the stock could head substantially higher from its current, depressed levels.
Morgan Stanley: Now Could Be a Good Time to Buy Shares on the Cheap
The banking giant will be looking to regain investor confidence ahead of what could be a challenging quarter.
Apple Overhauls Its MacBook Lineup: 3 Key Takeaways
The tech giant cut the price of its latest MacBook Air and refreshed its cheapest MacBook Pro. It also discontinued a MacBook that felt strongly influenced by Jony Ive's design philosophy.
JPMorgan: A Good Way to Play Defense Ahead of Earnings Season
While JPMorgan stock remains relatively expensive, the valuation premium is probably justified by the quality of the company's fundamentals, particularly ahead of an earnings season that could prove turbulent for the banking sector.