U.S. stocks dropped as the IMF introduced bearish sentiment to the market after warning that the economy may not return to the rate of increase seen pre 2007. Comments from the European Central Bank President, Mario Draghi, also added pressure as he stated that the economy needs reforms to recover. He also said that the bank will boost inflation and are ready to increase monetary stimulus if needed. The S&P 500 dropped 2.07% to 1,928.21, a 2 month low. The Dow Jones experienced its worse sell off in a year and dropped 1.97% to 16,659.25.
Asian markets also declined across the region. The Nikkei lost 1.15% as the Dollar remained lower against the Yen with the Dollar trading at 107.863 compared to 107.870 a session earlier. Auto makers, technology stocks and financial stocks were all hit hard. Nissan and Honda both declined 2.3% and Toyota dropped 1.3%. The Hang Seng lost 1.77% as talks between government and officials and protest leaders were cancelled. It is has also been reported that it is possible that there could be a delay in the direct connection of stock trading between Hong Kong and Shanghai. The main losers in the index were China Mobile, down 2.2%, Tencent Holdings down 1.6% and HSCB down 1.4%.
European markets are lower today due to concerns regarding the strength of the European economy. Indices were hit this week following the IMF decision and weak data being released from Germany. Weak data from Italy and France this morning also added to the bearish sentiment. The FTSE 100 is down 0.78% heading for a yearly low with most components in the red. The DAX is down 1.04% and the CAC 40 is down 0.95%. Travel shares in particular with fears over Ebola affecting markets with both Air France KLM and Thomas Cook shedding 3.5%.
October 10, 2014 – Indices News
U.S. stocks dropped as the IMF introduced bearish sentiment to the market after warning that the economy may not return to the rate of increase seen pre 2007. Comments from the European Central Bank President, Mario Draghi, also added pressure as he stated that the economy needs reforms to recover. He also said that the bank will boost inflation and are ready to increase monetary stimulus if needed. The S&P 500 dropped 2.07% to 1,928.21, a 2 month low. The Dow Jones experienced its worse sell off in a year and dropped 1.97% to 16,659.25.
Asian markets also declined across the region. The Nikkei lost 1.15% as the Dollar remained lower against the Yen with the Dollar trading at 107.863 compared to 107.870 a session earlier. Auto makers, technology stocks and financial stocks were all hit hard. Nissan and Honda both declined 2.3% and Toyota dropped 1.3%. The Hang Seng lost 1.77% as talks between government and officials and protest leaders were cancelled. It is has also been reported that it is possible that there could be a delay in the direct connection of stock trading between Hong Kong and Shanghai. The main losers in the index were China Mobile, down 2.2%, Tencent Holdings down 1.6% and HSCB down 1.4%.
European markets are lower today due to concerns regarding the strength of the European economy. Indices were hit this week following the IMF decision and weak data being released from Germany. Weak data from Italy and France this morning also added to the bearish sentiment. The FTSE 100 is down 0.78% heading for a yearly low with most components in the red. The DAX is down 1.04% and the CAC 40 is down 0.95%. Travel shares in particular with fears over Ebola affecting markets with both Air France KLM and Thomas Cook shedding 3.5%.
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