US and European bourses fell for the first time in a week yesterday as driven by banking shares. Disappointing jobless claims and trade data, while increased hopes for QE2, provided further evidence on weak US growth. The dollar recovered from a 10-month low in the NY trading session. In the commodity sector, oil prices fell despite declines in US inventories as investors worried about the contracting trend in gasoline and distillate demands. The front month contract for WTI crude oil slipped to as low as 82.21 before closing at 82.69, down -0.39%. Gold eased a tad after climbing to a record of 1388.1 earlier in the day but the long-term uptrend remained intact with price settling at 1377.6, up +0.52%.
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Risk Assets Pull Back on Banking Sector Concerns
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