Stocks and commodities fall on renewed Euro zone funding concerns $XAGUSD

Last Updated on Monday, 05 March 2012 14:48
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  • US equity markets fell for a third day as growing funding stress in Europe fuelled concern the region is struggling to contain the debt crisis
  • The S&P500 fell 1.1% to close at 1211.75. Energy and technology stocks were amongst the hardest hit lead by Cisco and Exxon Mobil
  • In line with the weaker equity markets, commodities were hard hit with continuing declines in the order of 4%-5%
  • DOW –1.10%, S&P500 –1.13% and NASDAQ –1.55%
  • Gold continues to trade lower with the spot price making a low towards USD1564.00 overnight and is currently trading at USD1574.25 which was its lowest price in 5 months
  • Crude oil has fallen the most since September declining 5.15% with the front futures contract trading at $94.98 after OPEC agreed to raise its production ceiling
  • Treasuries rose after the US sold 30 year bonds at auction which drew a record low yield of 2.925%
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