Asian markets took a hit today as investors agonized over the pace of global economic recovery and umped riskier assets. Helping fuel pessimism was worse than expected Hong Kong trade balance data, which showed a deficit of 54.5 billion dollars as opposed to an expected deficit of 46.0 billion dollars. Lastly, after rising during 2013, many investors feel Asian Indices are due for a market correction. Consequently, the Nikkei has closed down 2.51%, the Hang Seng has closed down 2.11%, and the ASX 200 has closed down 0.42%.
European markets have also declined today despite better than expected German Ifo Business Climate data. After last week’s currency crisis, investors are increasingly pessimistic about equity markets and are looking to profit take after a year of solid value growth. Not surprisingly, the Stoxx 50 closed down 0.45%, the FTSE is down 1.70%, and the DAX is down 0.46%.
American Indices are down after worse than expected New Home Sales data indicated a 7.0% drop in in the purchase of houses despite analyst expectations of only a 1.3% drop. Furthermore, the Federal reserve is expected to meet on Wednesday and many investors are anticipating further tapering of stimulus. In light of this, their is significant downward pressure on US markets as many view stimulus money as essential for promoting economic recovery. The Dow is down 0.31%, the S&P is down 0.84%, and the Nasdaq is down 1.74%.
January 27, 2014 – Indices News
Asian markets took a hit today as investors agonized over the pace of global economic recovery and umped riskier assets. Helping fuel pessimism was worse than expected Hong Kong trade balance data, which showed a deficit of 54.5 billion dollars as opposed to an expected deficit of 46.0 billion dollars. Lastly, after rising during 2013, many investors feel Asian Indices are due for a market correction. Consequently, the Nikkei has closed down 2.51%, the Hang Seng has closed down 2.11%, and the ASX 200 has closed down 0.42%.
European markets have also declined today despite better than expected German Ifo Business Climate data. After last week’s currency crisis, investors are increasingly pessimistic about equity markets and are looking to profit take after a year of solid value growth. Not surprisingly, the Stoxx 50 closed down 0.45%, the FTSE is down 1.70%, and the DAX is down 0.46%.
American Indices are down after worse than expected New Home Sales data indicated a 7.0% drop in in the purchase of houses despite analyst expectations of only a 1.3% drop. Furthermore, the Federal reserve is expected to meet on Wednesday and many investors are anticipating further tapering of stimulus. In light of this, their is significant downward pressure on US markets as many view stimulus money as essential for promoting economic recovery. The Dow is down 0.31%, the S&P is down 0.84%, and the Nasdaq is down 1.74%.
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