Stock markets have fallen across the board today despite the absence of any real money-moving economic data being released. The FTSE 100 closed down 135.94 points at 3762.91 whilst the Dow Jones is currently down over 300 points going into the final hour of trading.

The widespread fall can be attributed, at least in part, to worries about the troubled car industry and general fears that the banks may need yet more additional capital if they are going to survive.

On the currency markets the dollar has had a strong day as we have seen rises in the major currencies such as the USD/CAD, USD/CHF and USD/JPY pairs whilst we have seen weakness in the GBP/USD and EUR/USD pairs, continuing the falls we saw last Friday.

Looking ahead to tomorrow, we have another relatively quiet day ahead of us, although the Chicago PMI and Consumer Confidence figures should be worth keeping on eye on at 09.45 and 10.00 respectively.

After tomorrow we are all set for a busy and potentially volatile trading period with some big economic data releases scheduled, plus of course there are the G20 summit meetings which could also have a big impact on the markets.

 

 

Filed under: Market News

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