News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Stocks Drop After Wall Street Records

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Stocks around the world dropped, with downbeat earnings and concerns over Spanish politics helping to interrupt a global rally that has taken major bourses to multiyear highs.

U.S. Jobless Claims Fall to 44-Year Low

The number of Americans filing applications for new unemployment benefits fell to the lowest level in 44 years, reflecting power outages in storm-ravaged Puerto Rico and the U.S. Virgin Islands that have disrupted the application process.

China's Bright Economic Future Is Bound Up in the Past

President Xi Jinping this week lauded China's transition to high-quality growth, but for now smokestack industries carry the economy-and much-touted efforts to relieve long-term ills are running into short-term reality.

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GOP Divided Over Monetary Policy as Fed Chief Pick Looms

After criticizing the Fed for the past eight years, Republicans finally have a chance to change the course of the central bank when President Donald Trump nominates someone to take the helm in early 2018. But they are divided over which direction monetary policy should take.

U.K. Pushes Citizens' Rights to Advance Brexit Talks

British Prime Minister Theresa May will Thursday make a pitch to European Union leaders on guarantees for EU citizens living in the U.K., hoping to revive stalled Brexit talks by shifting the focus away from a deadlock over money.

China to Allow Foreign Banks to Increase Holdings in Domestic Lenders

China will give foreign banks more space in conducting business in China, including allowing them to increase stakeholdings in domestic banks, the nation's top banking regulator said.

LSE Chief Rolet to Leave Next Year

London Stock Exchange said Chief Executive Xavier Rolet would leave the company by the end of next year, bringing down the curtain on a tenure marked by a big bet on index services and a failed attempt to create a pan-European exchange.

Spain to Propose Measures to Strip Catalonia of Powers

Catalonia's leader defied an ultimatum from Madrid by failing to renounce his push for independence, prompting the Spanish government to gear up for stripping the region of some of its powers.

Dr. Copper Needs Lessons in Chinese Medicine

Copper is testing three-year highs and the Dow has just broken 23000. Is global growth about to go through the roof? Unlikely: take a closer look at China.

(END) Dow Jones Newswires

October 19, 2017 09:15 ET (13:15 GMT)