The world’s stock markets have fallen across the board today as the markets finally kick into action. Last week was exceptionally quiet but we’ve seen some sharp declines today as investors take some of their profits off the table.

In Europe we have seen the FTSE 100 fall 2.61% to 4326.01, the CAC 40 fall 3.20% to 3219.58 and the DAX fall 3.54% to 4889.94. Meanwhile in the US, with less than an hour to go until the closing bell, the Dow Jones is 2.40% lower at 8588 whilst the S&P 500 is 2.66% lower at 921 and the Nasdaq is 2.78% lower at 1807.

Elsewhere we have seen some major strength in the dollar today which has not only sent the GBP/USD and EUR/USD pairs crashing down to 1.6290 and 1.3784 respectively, but it has also resulted in falls in commodity prices across the board.

The price of gold is $13 lower at $928 whilst a barrel of crude oil is $1.42 lower at $70.28. Whether this signals the end of the recent bull run in these two commodities remains to be seen, but it may simply turn out to be a temporary blip in the longer term upward trend.

 

 

Filed under: Market News

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