German DAX -1.8%
The major European shares are ending the session with sharp declines. For the year, the major European indices are also in the red. A look at the provisional closes are showing:
- German DAX, -1.8%
- France's CAC, -2.0%
- UK's FTSE 100, -1.9%
- Spain's Ibex, -2.4%
- Italy's FTSE MIB, -1.4%
For the year, changes are all in the red led by a 7% decline in the UK FTSE 100.
- German DAX, -3.4%
- France's CAC, -5%
- UK's FTSE, -7%
- Spain's Ibex, -3.1%
- Italy's FTSE MIB, -1.6%
In other markets as the European/London traders look to exit are showing:
- Gold is still negative. It is trading down $10.80 or -0.65% at $1648.10. The spot price tried rebound and move higher on the fall in stocks, but seems to have sellers above. Recall that in yesterday's trade, there was a large seller reported in the futures market which helped push the price lower in the New York afternoon session
- WTI crude oil futures are following the risk off sentiment with the contract trading down -$0.89 or -1.7% at $50.54. The price is not far off the low at $50.37. The high reached $52.02
In the US stock market, the NASDAQ is leading the charge to the downside. It is currently down -100 points or -1.11% and 9116.
- Dow -308 points or -1.11% at 27653
- S&P index -34.5 points or -1.07% at 3191
- Nasdaq down -100 points or -1.11% at 9116
In the US debt market, yields are lower with the 5 year down -5.2 basis points. The 10 year is down -4 basis points currently. The 2-10 year spread is up marginally at 12.61 basis points versus 12.29 basis points at the close yesterday
In the European debt market, the benchmark yields are mixed with investors moving into the German,UK and French 10 years and shunning Italy and Portugal.
Finally in the forex market, the GBP remains the strongest, while the NZD and AUD are the weakest. The USD has weakened in the New York session as investors exit US stocks.
