Stocks slide on global trade concerns
The major stock indices in Europe are ending the session in the red.
- German Dax fell -0.6%
- France's CAC fell -0.4%
- UK's FTSE fell -0.35%
- Spain's Ibex fell -0.3%
- Italy's FTSE MIB fell -0.91%
- Portugal PSI20 bucked the trend and is higher by 0.29%
In the benchmark 10 year note sector, yields are ending higher. Italian yields lead the way to the upside.
A snapshot of the forex market as European and London traders leave is showing the GBP remains the strongest currency, but the NZD has overtaken the AUD as the weakest (compared to earlier NY levels).
The USD remains mixed but a little stronger.
In other markets:
- Spot gold is up a little from the NY open. It is up $2 or 0.18% at $1201.20
- WTI crude oil is higher. It is now up $1.82 or 2.6% at $72.64. The contract trades at the highest since July 11th on the back of a stingy OPEC+ over the weekend.
- Bitcoin is down -$71 at $6600. The price is below the 100 day MA at $6746.58. The high reached $6716. The low reached $6565.
US stocks are down, but the Dow and Nasdaq have switched positions on the order of downward magnitude. At the opening, the Dow and Nasdaq were both down, but the Nasdaq was down more. The Nasdaq is still lower but has recovered much of the earlier declines:
- Dow is down -174 points or -0.65%
- S&P is down -12.66 points or -0.43%
- Nasdaq is down -14.67 points or 0.18%
The US yields are higher with the 2-10 year spread also moving higher.
