Talk is Cheap, Investors Disappointed by ECB's Inaction

Sentiment weakened as the ECB disappointed by failing to deliver immediate actions to resolve the sovereign crisis in the Eurozone. Financial markets dropped across the board amid concerns that debt problems in the bloc would prolong. Wall Street declined with the DJIA and the S&P 500 losing -0.71% and -0.74% respectively. The single currency also slipped. In the commodity sector, the front-month contract for WTI crude oil plunged to a 6-day low of 86.92 before settling at 87.13, down -2.00% while the equivalent Brent crude contract fluctuated above 105 but ended the day largely flat. Gold plummeted for the third consecutive day as both the Fed and the ECB stood on the sideline, reducing the yellow metal’s appeal as an alternative of fiat currencies. The benchmark Comex contract slipped -1.03% during the day.

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Talk is Cheap, Investors Disappointed by ECB's Inaction