Investors were torn between the persisting uncertainty related to the sovereign debt crisis in the Eurozone and disappointing Chinese exports data, and the better than expected US data. The Wall Street was under pressure in the morning session as led by weakness in European bourses. Recovery was seen in the afternoon session with DJIA and S&P 500 losing -0.35% and -0.30% respectively. In the commodity sector oil slipped with the front-month contract for WTI crude oil dropping -1.57% and the equivalent Brent crude contract dipping -0.22%. Gold also slipped -0.84% during the day. The yellow metal appeared to have lost the safe-haven asset appeal in recent days.
Originally posted here:
Financial Markets Down on Rating Downgrades, Fears about Debt Haircut and Disappointing China Trade
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