3% is the cruel fate for the Dow Jones Industrial Average and oil prices

Dow Jones Industrial Average and the price of oil began to decline rapidly

In brief: The overall level of losses for the Dow Jones Industrial Average oil prices exceeded 3%, which was a kind of record.

Dow Jones Industrial Average close to 3% loss per day. Dow index is 9,843.02 points, losing almost 300 points per day (-2.91%). At the same time, with the Dow Jones Industrial fall and major European stock indices. European stocks crumbled on the basis of trading on Tuesday amid concern slowing economic growth in China, but also because of the negative data on the U.S. economy, according to data exchanges.

On the closing of the auctions the British index FTSE 100 sank 3.10% – up just 4 914.22 points. Deutsch DAX 30 fell by 3.33% – up to 5 952.03. The French CAC 40 index on the basis of trades has lost 4,01%, dropping to 3 432.99 points. “We have already drawn in the possibility of slowing down”, – Said before closing the bidding agency Bloomberg senior strategist at Fortis Bank Global Markets Philip Zhigsels. “All set to the same question: how strong is slowing in the second half? As the stock market, the period of high uncertainty will continue “, – believes Zhigsels. European stock exchanges adopted the “baton” downward trend in the Asian trading platforms, recession indicators, which was caused by the negative statistics has on the economies of the PRC and Japan. Thus, the rate of growth in the leading index for China’s economy in April was reduced to 0,3% against the previously published 1.7% and the unemployment rate in Japan unexpectedly rose in May to 5.2%, while the indices of consumer demand and retail Sales fell. In addition, experts Citigroup Inc. In his report noted “significant difficulties” that may face China’s export sector due to downsizing measures to support the economy and developing the debt crisis in Europe.

Negative data from the U.S. led to a reduction of European stock indicators are about 1 percentage point. According to the report research company Conference Board, index of consumer confidence to the world’s largest economy in June after a three-month period of growth had fallen sharply – up 52.9 points against 62.7 a month earlier. At the same time, the index of consumer and business confidence in the euro-zone economy (ESI) in June 2010 increased by 0.3 points compared with May and amounted to 98,7 points. However, global negative news background screened moderately positive data from the European Commission, not allowing the trading platforms of the Old World to compensate for significant losses. The maximum decrease was observed indicators on the stock exchanges of Madrid, where the leading index IBEX 35 has fallen on the bidding results Tuesday at 5.45%, and Milan, where the index FTSE Mib lost 4.44%. Oil prices on Tuesday June 29 fell sharply due to lower levels of consumer confidence in the U.S. and fears of cooling China’s economy. The August futures for delivery of petroleum of mark WTI have fallen by 3% to $ 75.94 per barrel. Futures for the supply of natural gas became cheaper by 3.9% to $ 4.54 per million British thermal units.

Ukrainian Globalist
2010-06-29 19:50, Economics.

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One comment к “3% is the cruel fate for the Dow Jones Industrial Average and oil prices”

  1. InTheKnow Says:

    Things will get much worse when the world finds out they are preparing to evacuate the Florida Gulf Coast.
    Here FEMA has parked many thousands of people mover vans on the airport runways out of public view, on the other side of the state.
    They’ve never done this before for a storm so it must have to do with the oil spill.


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