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Stocks pullback on European debt concerns $BAC $CAT $AA
Last Updated on Tuesday, 20 September 2011 10:18
- US stocks broke a five day rally due to concerns about Greece’s sovereign debt issues. Senior Greek and European officials are meeting to discuss the next tranche of funds required by Greece to avoid default. In order to receive the funds, Greek officials must convince their European counterparts
- Italy has come under further pressure with ratings agency S&P downgrading Italy’s credit ratings by one notch from A to A. Markets are also closely watching the political outcome in Germany with Chancellor Angela Merkel losing another regional election
- Leading the losses on the Dow was BAC, AA, AXP and JPM falling 3.32%, 3.26%, 2.87% and 2.81% respectively
- Dow Jones –0.94% S&P500 –0.98% NASDAQ –0.36%
- USD was stronger as markets look to the safety of the Greenback. US Dollar Index rose 0.63% and the EUR tested support at 1.36. The GBP pulled back and the AUD fell to a low of 1.0147 this morning
- Gold sold off on equity loss covering and Oil fell on Greek pessimism
Published by Spectrum Live Pty Ltd | www.spectrumlive.com
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