By IFCMarkets
US stock market continued their retreat on Monday led by communication services and materials shares. The S&P 500 lost 0.5% to 2975.95. Dow Jones industrial slid 0.4% to 26806.14. The Nasdaq composite fell 0.8% to 8098.38. The dollar strengthening continued : The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.1% to 97.36 and is higher currently. Stock index futures point to lower market openings today
European stocks extended losses on Monday led by banking shares. Both GBP/USD and EUR/USD continued falling and are lower currently. The Stoxx Europe 600 index slid 0.05%. The DAX 30 lost 0.7% to 12543.51 weighed by 5% drop in Deutsche Bank after news it would pull out of its global equities sales and trading operations. France’s CAC 40 slid 0.08% and UK’s FTSE 100 slipped 0.05% to 7549.27.
Asian stock indices are mostly falling today. Nikkei however closed 0.1% higher at 21565.15 with yen slide against the dollar intact. Markets in China are retreating: the Shanghai Composite Index is down 0.2% and Hong Kong’s Hang Seng Index is 0.8% lower. Australia’s All Ordinaries Index extended losses 0.1% despite Australian dollar’s accelerating slide against the greenback.
Brent futures prices are edging higher today supported by Middle East tensions as Iran claimed it was enriching uranium above the 3% level agreed in the 2015 nuclear deal, and threatened retaliation for the UK seizure of Iranian oil tanker last week. Prices fell yesterday: September Brent crude lost 0.2% to $64.11 a barrel on Monday.
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