Markets pullback on continued debt fears $EURUSD

Last Updated on Tuesday, 15 November 2011 12:22

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Equities fell after two days of gains as investors continue to remain concerned about Italy's ability to implement its pending austerity measures that are currently before parliament. Italian yields rose and adding to Italy’s woes was the announcement that Italy's biggest bank UniCredit Spa reported a $14.48 billion loss in the Q3, the stock fell –6.18% as a result
Markets were also concerned with German Chancellor Merkel’s Christian Democrats party vote which now allows members to voluntarily exit the EU
Intern Greek PM Lucas Papademos will have to first win this coming Wednesday’s confidence vote of his cabinet before meeting EU officials
Leading the losses on the Dow were financials such as BAC and JPM which fell 2.58% and 2.9% respectively due to the continued Euro financial crisis
Bucking the trend were note worthies LOW, BA and CAT which each rallied 1.69%, 1.52% and 0.42% respectively
Dow Jones –0.61% S&P500 –0.96% NASDAQ –0.80%
EUR was under pressure and risk driven currencies like the AUD pulled back
Gold fell on USD strength and Crude closed 0.9% lower on risk aversion

Published by Spectrum Live Pty Ltd | www.spectrumlive.com

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