GLOBAL MARKETS-Stimulus, Brexit talks weigh on Asian markets

By Pete Schroeder
Dec 10 (Reuters) - Asian markets looked set to slide
Thursday as investors tracked negotiations with significant
economic implications in the U.S. and Europe.
Australian S&P/ASX 200 futures YAPcm1 were down 0.28% in
early trading, while Japan's Nikkei 225 futures NKc1 were down
0.06%.
Hong Kong's Hang Seng index futures .HSI .HSIc1 were
down 1.15%.
On Wall Street, markets took a bit of a hit as investors
awaited further news on economic stimulus and COVID-19 vaccines.
And ongoing negotiations between the British and European Union
over the terms of Britain's exit added another dash of
uncertainty for investors.
The Dow Jones Industrial Average .DJI fell 0.49%. The S&P
500 .SPX lost 0.90% after hitting a record high earlier in the
day, while the Nasdaq Composite .IXIC dropped 1.99%.
In the U.S. Congress continued talks on additional economic
stimulus, with House lawmakers voting to pass a one-week stopgap
funding bill to give more time for talks. Meanwhile, British Prime Minister Boris Johnson warned the
European Union on Wednesday it must scrap demands that he says
are unacceptable if there is to be a Brexit trade deal to avoid
a turbulent breakup in three weeks. "Elevated levels of event risk surrounding the EU-UK trade
talks ... and ongoing negotiations on a fresh U.S. stimulus
package in Washington continued to dampen market volatility,"
wrote analysts at ANZ Bank in a research memo.
Facebook FB.O dragged down other big tech stocks on the
news that the U.S. Federal Trade Commission and nearly every
U.S. state had sued the social media company, saying it engaged
in anticompetitive practices and should potentially be broken
up. A recent run of optimism on the back of positive vaccine
news took a hit after officials in Britain, the first Western
nation to adopt a wide vaccination effort, cautioned that people
with a history of significant allergic reactions responded
adversely to the Pfizer PFE.N vaccine. The U.S. dollar rose for the fourth straight session
Wednesday, with the dollar up 0.16% against a basket of
currencies =USD to 91.065. Longer-term U.S. Treasury yields
rose on stimulus and vaccine hopes. Oil futures were largely flat LCOc1 CLc1 , while spot
gold prices XAU= were down more than 2%, with the start of
vaccine treatment reducing demand for the safe-haven investment.
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