Following the US lead
The major European stock indices are ending the day with sharp declines as they follow the US lower:
- German DAX, -2.0%
- France’s CAC, -2.0%
- UK’s FTSE, -1.1% (helped by Brexit news)
- Spain’s Ibex, -0.5%
- Italy’s FTSE MIB, -1.71%
- Portugal’s PSI 20, -2.19%
In the European benchmark 10 year note sector, yields are mostly higher.
In other markets as European traders look to exit:
- Spot gold is unchanged at $1189.72
- WTI crude oil futures are trading down $1.73 or -2.3% at $73.23
US stocks are down but recovering off lows in volatile trading:
- S&P index -40.5 points or -1.41% at 2839. The low reach 2833
- NASDAQ -155 points or -2.02% at 7581. The low reach 7552
- Dow is down -366 or -1.3% at 26065. The low reached 25999 (call it 26000 a nice round number).
Yields in the US are still higher:In the forex market, the GBP and the JPY were the strongest and the weakest at the start of the NA session. The GBP remains the strongest and has gotten stronger on Barnier comments this morning. The CAD is now the weakest.