European stocks climbed after the Federal Reserve indicated raise interest rates gradually while U.S. equity futures surged after Facebook Inc.’s earnings and crude oil pared a decline.
China’s stocks fell as concern slumping commodities and a weakening economy will reduce profits overshadowed the biggest cash injection into financial markets since 2013.
The Stoxx Europe 600 Price Index rose 0.1 percent as of 8:30 a.m. in London. Facebook Inc.’s after-market bounce spurred gains in futures on the Standard & Poor’s 500 Index and the Nasdaq 100 Index.
U.S. crude erased declines to head for a three-day advance . Malaysia’s ringgit rose to a seven-week high after Prime Minister Najib Razak maintained his fiscal-deficit target. The Shanghai Composite Index fell 2.9 percent.
With 2016 proving to be one of the most volatile starts to a year on record for financial markets, the Fed’s first statement since its December interest-rate hike noted officials were “closely monitoring” developments from China to Europe, for any adverse impact on the U.S. economy.
China’s policy makers injected more cash into its financial system to keep borrowing costs from rising as they contend with the slowest economic growth in a quarter century and record capital outflows that drove the yuan to a five-year low this month.
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