European shares end the session with sharp declines

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 futures tried to move higher on the fall in stocks but seems to have sellers above. Yesterday, there was a largest seller reported in the futures market which push the price lower in the New York afternoon session
  • WTI crude oil futures are 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 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.

European yields are mixed

Finally in the forex market, the GBP remains the strongest, while the NZD and AUD are the weakest.   The USD has weekend in the New York session as investors exit US stocks.

The strongest and weakest of the major currencies


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