World shares are mostly lower after Wall Street’s rally loses steam
[September 25, 2025] By
TERESA CEROJANO
MANILA, Philippines (AP) — World shares were mostly lower on Thursday,
with Asian and European indexes down after overnight losses on Wall
Street.
The futures for the S&P 500 and the Dow Jones Industrial Average were
both less than 0.1% up while oil prices edged lower.
In early European trading, German's DAX slipped 0.4% to 23,566.42. The
CAC 40 in Paris shed nearly 0.5% to 7,791.66. Britain's FTSE 100 edged
down less than 0.1% to 9,244.00.
Japan’s Nikkei 225 recovered from earlier losses, closing 0.3% higher to
45,754.93. Minutes from the Bank of Japan’s July meeting, released
Thursday, indicated officials were inclined to raise interest rates if
economic activity and prices improve.
In Chinese markets, Hong Kong’s Hang Seng index shed 0.1 % to 26,484.68
while the Shanghai Composite index lost less than 0.1% to 3,853.30.
South Korea's Kospi index shed less than 0.1% to 3,471.11. Concerns
about competitiveness lingered after the U.S. on Wednesday cut auto
tariffs on EU imports to 15% while Korean vehicles remain at 25%.
Australia’s S&P/ASX 200 rose 0.1% to 8,773.00. India's BSE Sensex fell
0.4% while Taiwan's Taiex seesawed between gains and losses, shedding
0.7%.
On Wednesday, U.S. stock indexes drifted lower as worries revived over
the high level of share prices.
The S&P 500 slipped 0.3% to 6,637.97 for a second straight, modest loss.
The Dow Jones Industrial Average dropped 171 points, or 0.4%, to
46,121.28, and the Nasdaq composite fell 0.3% to 22,497.86. All three
were still near all-time highs set on Monday.
The U.S. stock market has slowed after a blistering run since hitting a
low in April.
Gains have been fueled by hopes that President Donald Trump’s tariffs
won’t derail global trade and that the Federal Reserve will cut interest
rates several times to boost the U.S. economy.
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Currency traders watch monitors near a screen showing the Korea
Composite Stock Price Index (KOSPI) and the foreign exchange rate
between U.S. dollar and South Korean won, right, at the foreign
exchange dealing room of the Hana Bank headquarters in Seoul, South
Korea, Thursday, Sept. 25, 2025. (AP Photo/Ahn Young-joon)
 The rally has been so big that it
has raised concerns about stock prices shooting too high and
becoming too expensive, particularly if the Fed does not deliver as
many cuts to rates as traders expect.
Demonstrating the weight of high expectations, Micron Technology’s
stock fell 2.8% even though it reported a better profit and revenue
for the latest quarter than analysts expected. The computer memory
company also gave a forecast for profit in the current quarter that
blew past analysts’ expectations.
Typically, such a performance would send a stock higher. But
Micron’s stock came into the day with an atypical, stunning gain of
97.7% for the year so far.
Freeport-McMoRan sank 17% for one of the market’s larger losses
after the miner said it expects sales of copper to be 4% lower in
the third quarter than it had earlier forecast. It also said sales
of gold will likely be roughly 6% lower than earlier expected.
On the winning side of Wall Street was Lithium Americas. It soared
95.8% following reports that the U.S. government is considering
taking an ownership stake in the Canadian company, which is
developing a lithium project in Nevada with General Motors.
Homebuilders also rose after a report said U.S. sales of new homes
were stronger in August than economists had forecast and
unexpectedly accelerated.
In other dealings early Thursday, benchmark U.S. crude oil fell 54
cents to $64.45 per barrel. Brent crude, the international standard,
lost 49 cents to $67.97 per barrel.
The U.S. dollar fell to 148.76 Japanese yen from 148.78 yen. The
euro edged up to $1.1745 from $1.1744.
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