The US stock indices fell for the 2nd consecutive month with the Dow Jones Industrial average falling -3.69%. The broader S&P index fell by -3.10% while the tech heavy Nasdaq composite fell by -2.13%. The global flows shifted out of the US, and into the EU, on the back of the ECB’s bond buying announcement, that they would be buying bonds to the tune of 60B per month starting in March. Investor feel that what was so good for the US and the Japanese stock markets,must be good for the European markets now.
The German Dax led the way higher, surging by 9.06%. The French CAC 40 was next at 7.76% and the Euro Stoxx index added 6.52%. The UK FTSe and the Asian indices were up but by more modest amounts..
Below are the month end changes for some of the major global indices:
Global flows showed money out of the US and into the European markets.
