Comments from the World Bank suggesting that the recession could last longer than expected sent stocks tumbling today with all of the major markets experiencing significant falls.

In Europe the FTSE 100 fell 2.57% to 4234.05 whilst the French and German stock markets fared even worse with the CAC 40 falling 3.04% to 3123.25 and the DAX falling 3.02% to 4693.40. Meanwhile in the US the Dow Jones is currently 1.97% lower at 8371.28 whilst the S&P 500 and Nasdaq are 2.58% and 2.97% lower at 896.82 and 1773.21 respectively.

On the currency markets both the GBP/USD and EUR/USD pairs have fallen steadily throughout the day and now trade at 1.6351 and 1.3870 respectively, whilst the USD/JPY has trades sideways for most of the day and is just slightly lower at 95.90.

Finally it looks like demand for commodities is continuing to fall as we have seen the price of crude oil fall $2.58 to $66.97 and the price of gold fall back $15 to $921.

 

 

Filed under: Market News

Like this post? Subscribe to my RSS feed and get loads more!