ETX Capital Daily Market Bite, 18th March, 2013: Stocks Slide On Cypriot Tax Levy For Depositors
March 18, 2013 12:22 pm
March 18th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist
European markets have opened sharply lower this morning, as investors reacted negatively to a surprise bailout agreement for Cyprus which forced depositors in Cypriot banks to pay a one-time tax on their savings. Meanwhile, Bank of England policy maker Ian McCafferty, in an interview with the Yorkshire Post, stated that the central bank stood ready to support a recovery in the UK economy.
March 18th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist
European markets have opened sharply lower this morning, as investors reacted negatively to a surprise bailout agreement for Cyprus which forced depositors in Cypriot banks to pay a one-time tax on their savings. Meanwhile, Bank of England policy maker Ian McCafferty, in an interview with the Yorkshire Post, stated that the central bank stood ready to support a recovery in the UK economy.
Related Posts: