Sentiment Dampened as US Growth Lost Momentum

Risk appetite diminished markedly yesterday as disappointing US economic data fueled slowdown concerns. Equities plunged in both Wall Street and European markets. DJIA and S&P 500 Index fell -0.66% and -0.69% respectively while European bourses (FTSE, DAX and CAC 40) slipped more than -1%. In the commodity sector, the front-month contract for WTI crude oil price broke below 110 for the first time in 2 weeks and closed at 109.24, down-1.63%, while the equivalent Brent crude contract ended the day at 121.19, down -1.03%. The more severe fall in WTI crude than Brent crude was due to huge US stock-builds last week.

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Sentiment Dampened as US Growth Lost Momentum