Taiwanese President Tsai Ing-wen is expected to stop over in the U.S. on Friday on her way back from visiting diplomatic allies in the Caribbean, a move that's sure to make...China Politicsread more
Libra and bitcoin are different in a lot of ways, from the technology behind them to the way they're used.Technologyread more
Stocks in Asia Pacific advanced in Friday afternoon trade, as comments from a U.S. Federal Reserve official led to rising expectations the central bank could ease monetary...Asia Marketsread more
Boeing will take a nearly $5 billion charge in the second quarter to compensate 737 Max customers as the planes remain grounded.Airlinesread more
Earlier, Williams delivered a speech at the annual meeting of the Central Bank Research Association in which he said, "It's better to take preventative measures than to wait...The Fedread more
The base version of the sports car will punch out 495 horsepower, 40 more than the seventh-generation car and enough to launch it from 0 to 60 in "less than three seconds"...Autosread more
Animation fans and Kyoto residents gathered at the site of Japan's worst mass killing in 18 years on Friday, offering flowers and prayers for the 33 people who died in an...Asia Newsread more
Trump said the USS Boxer destroyed Iran's drone in the Strait of Hormuz on Thursday in a "defensive action."Politicsread more
Microsoft beat on top and bottom lines, and guidance was just ahead of expectations, but the company's Azure growth is slowing down.Technologyread more
"We've seen Netflix stumble before, especially maybe after a price hike, but not quite like this," Jim Cramer says.Mad Money with Jim Cramerread more
They also voted to absolve themselves, their party and the voters who elected them – like the ones Trump inspired to chant "send her back" at a rally Wednesday in North...Politicsread more
(Updates prices throughout, adds European shares, data)
* European shares follow Asia lower, UBS results disappoint
* U.S. futures down after Wall Street was closed on Monday
* Brexit plans remain uncertain but UK employment data strong
* IMF downgrades world growth forecasts again
* Asian stock markets: https://tmsnrt.rs/2zpUAr4
LONDON, Jan 22 (Reuters) - Pessimism about global growth drove down world shares and commodity markets on Tuesday and left investors seeking refuge in the dollar, government bonds and gold.
The International Monetary Fund's warning of a darkening outlook on Monday, after China's confirmed its slowest growth rate in nearly 30 years, continued to weigh on the mood.
European shares followed Asia into the red as disappointing earnings from Swiss bank UBS compounded what had been a catastrophic 2018 for Europe's banking sector, which lost nearly 30 percent of its value over the year.
In its World Economic Outlook report, the IMF predicted the global economy would grow at 3.5 percent in 2019 and 3.6 percent in 2020, down 0.2 and 0.1 percentage point respectively from last October's forecasts.
The downgrades heavily reflected weakness in Europe though, with Germany hurt by new car emission rules, Italy under market pressure due to Rome's recent budget standoff with the European Union and Brexit worries aplenty too.
"We have seen a little bit of a pull back, but whether it's the IMF growth downgrade or China related is neither here nor there," said CMC Markets' senior analyst Michael Hewson.
He pointed to the strong rebound markets like Germany's Dax has seen since the end of December as well as other major global stock markets.
"We are at the top end of the range for this year and given the global uncertainty investors are probably taking the view that it is probably wise to take a bit of profit off the table."
Futures markets pointed to another weak start for the U.S. later although the mood had improved a touch since Asian trading
with Wall Street futures last off 0.5-0.7
In Asia, losses had been led by Chinese shares, with the blue-chip index off 1.2 percent. Japan's Nikkei skidded 0.5 percent, Hong Kong's Hang Seng index closed down 0.8 percent and Sydney faltered 0.5 percent.
In another sign of risk aversion, the Australian dollar , often used as a liquid proxy for China investments, eased 0.3 percent to $0.7134, putting it on track for a third straight session of losses.
The same worries had also sent copper, used in electrical wires and vehicles, drifting lower in the metals markets.
In the currency markets, the dollar held at a near three-week high as investors sought the relative safety of the U.S. currency.
That knocked the euro and most emerging market currencies, many of which have had a decent start to the year.
Sterling was a shade firmer at $1.29 after data showed British workers' pay growth hit a new 10-year high and employment had grown by much more than expected in the three months to the end of November.
Otherwise traders were still waiting to see whether UK Prime Minister Theresa May can push her Brexit plans through the country's bitterly divided parliament.
May had offered tweaks on Monday by seeking further concessions from the European Union on a backup plan to avoid a hard border between the British-administered province of Northern Ireland and the Irish Republic.
But she had also refused to rule out leaving the EU at the end of March without any deal.
"Any upside for sterling in the near term may be limited," said Capital Economics analyst Liam Peach. "Uncertainty would continue during the extended negotiations and there is no guarantee that it would last for only a short period of time."
There was demand too for the safe-haven yen with the Japanese currency last buying at 109.41 per dollar. The euro was near the floor of its recent trading range at $1.1358. Against a basket of currencies, the dollar was barely changed at 96.393.
In commodities, the global growth worries pulled oil prices lower with Brent down 55 cents at $62.19 and U.S. crude futures off 39 cents at $53.41.
Euro zone government bond yields also fell. Most 10-year yields were down two basis points on the day with Germany's at 0.225 percent compared to Friday's one-month high close to 0.28 percent.
The European Central Bank holds its first meeting of the year on Thursday.
(Reporting by Swati Pandey; Editing by Richard Pullin and Jon Boyle)