Bears feast continues on the bones of Dow Jones Industrial, Nikkei and the Shanghai Composite

Dow Jones Industrial is weak today

In brief: Dow Jones Industrial began heavy trading at the stock market in the U.S. Dow is going down.

Dow Jones Industrial begins trading with a very negative attitude now. Yesterday was a feast for bears: European platform collapsed by more than 3%. Trading in the United States finished no less sad: Dow Jones Industrial Average fell 2,65%, Standard & Poor’s 500 fell by 3,1%, Nasdaq Composite down on 3,85%.

The source of the negative was an independent economic association Sonference Board, which announced a sharp revision with a decrease in ratings of leading indicators of the Chinese economy from 1,7% to 0,3%. Posted latest index of consumer confidence in the U.S. from Sonference Board was also very weak (52.9 points, while expected to grow to 62.8 points). In addition, Citigroup Inc. today announced that China’s exports may run into serious difficulties. Fears that European banks will have to go through hard times and the bad statistics for Japan provoked a flight from risk. What is in demand at the moment the market meltdown? Prices are growing U.S. debt securities: yield 10-year UST dropped to 2,93-2,95%, a few gold increased in price to $ 1,240 per troy ounce, stronger Japanese yen and Swiss franc. The dollar yesterday failed to prove himself as a currency shelter – the strengthening of “bucks” prevented the poor statistics. Oil’s price has dropped to $ 75.5, in Asian markets Wednesday morning as negative reigns: Japanese Nikkei dropped by 1,8%, China Shanghai Composite – on 1,27% Australian Index All Ordinaries – by 1,3%. Futures on the U.S. indices are in the green zone.

Ukrainian Globalist
2010-06-30 14:17, Economics.

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