13 Mar 2014
Markets sharply retreat on China, Ukraine
FXStreet (Edinburgh) - The spectre of a Chinese slowdown plus renewed fears regarding the fragile situation between Russia and Ukraine continues to take a toll on the global markets.
The DowJones is posting a three-digit drop, or 1.4% while the S&P500 is losing 1.2% and the Nasdaq 1.5%. The greenback, tracked by the DXY, was largely benefited from the current risk aversion, reversing the deep pullback from earlier in the morning and back to the positive territory.
Chinese woes also weighed on the European main indices, with the German DAX retreating the most, 1.86% and seconded by the CAC40 and the IBEX35, down 1.29% and 1.19%, respectively. The single currency is suffering the risk aversion and the dovish comments from ECB’s Draghi, falling from the proximity of 1.3960 to the mid-1.38s.
Regarding the commodities, both the barrel of WTI and the ounce troy of gold are posting light gains, up 0.20% at $98.20 and $1,373, respectively.
The DowJones is posting a three-digit drop, or 1.4% while the S&P500 is losing 1.2% and the Nasdaq 1.5%. The greenback, tracked by the DXY, was largely benefited from the current risk aversion, reversing the deep pullback from earlier in the morning and back to the positive territory.
Chinese woes also weighed on the European main indices, with the German DAX retreating the most, 1.86% and seconded by the CAC40 and the IBEX35, down 1.29% and 1.19%, respectively. The single currency is suffering the risk aversion and the dovish comments from ECB’s Draghi, falling from the proximity of 1.3960 to the mid-1.38s.
Regarding the commodities, both the barrel of WTI and the ounce troy of gold are posting light gains, up 0.20% at $98.20 and $1,373, respectively.