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European shares followed Asian stocks lower on Monday while a slightly weaker dollar eased the pressure on beleaguered metals that held near multi-year lows. Turkish stocks and the lira currency fell after Turkey said its planes shot down a warplane that had violated its air space near the Syrian border.
News that Turkey downed a Russian fighterjet on Tuesday spooked offshore investors briefly overnight, but hasn't affected the Australian market too badly, IG market analyst Angus Nicholson told AAP. "Obviously there was a bit of concern about what might be the repercussions from Turkey downing that Russian jet, whether we were going to see an increased likelihood of potential conflict in the Middle East," Mr Nicholson said.
Confidence in the economy eroded this month as Americans became more worried about the job market. A business research group said Tuesday that its consumer confidence index fell to 90.4 in November, down from 99.1 in October.
U.S. stocks are edging higher Tuesday afternoon after domestic and international concerns led to an early slump. The price of oil jumped as traders worried that Turkey's downing of a Russian fighter plane could lead to worsening tensions in the Middle East.
"We forecast the S&P 500 index will tread water for a second consecutive year in 2016," Goldman's David Kostin wrote in the firm's 2016 stock-market outlook on Tuesday. "Our year-end 2016 target of 2100 represents a 1% price gain from the current index level , which itself is just 1% above the year-end 2014 level of 2059.
European stock markets opened sharply lower Tuesday as jitters about instability in the Middle East intensified while Asian stock markets dithered as slumping commodity prices weighed on shares of resource companies. KEEPING SCORE: European stocks sank in early trading after a Russian warplane was shot down by Turkey.
A TROLLEY collector who was sacked for redeeming $2.80 worth of empty cans discarded by customers has had the last laugh. HAVE you called your mum lately? This woman went missing nearly five years ago.