Financial markets were under pressure on Friday, weighed down by the disappointing US data and selloff in the Wall Street the day before. The smaller than expected increase in consumer spending in May led to downgrade of US GDP growth outlook for the second quarter. Investors also failed to react to comments from several Fed presidents though they were generally hawkish. In the commodity sector, crude oil plummeted with the front-month WTI contract declining to a 2-week low of 105.03 before settling at 105.84, down -0.62% while the Brent crude contract falling to a 1-week low of 113 before ending the day at 113.21, down -0.69%.
View original post here:
Financial Markets Weaken amid Concern over US Growth Outlook
Leave a Reply
You must be logged in to post a comment.