Press Release Summary: It has been revealed that Eurasian escorted miners lower in London, which affected the Equities market badly and turned it down on Tuesday. Due to this US dollar was stronger whereas the short fall weakened the South African rand.
Press Release Body: It has been reported that European equities markets turned down Tuesday after US Federal Reserve Chairman Ben Bernanke inform the Senate Banking Committee that if Congress fails to pass the government’s $700 billion strategy to acquire bad debts from banks, markets and the economy could be debilitated.
Short falls also came as commodities related shares fell on declines in the prices of crude oil and metals.
In London, the FTSE 100 dropped 1.91 percent to 5,136.12 while the FTSE 250 was 3.41 percent lower to 8,454.58.
Some miners saw major downfalls led by Anglo American (LSE: AAL), which dropped 8.21 percent while Vedanta Resources (LSE: VED) fell 10.39 percent and Eurasian (LSE: ENRC) weakened 11.43 percent.
The FTSE Eurofirst 300 fell 1.52 percent to 1,109.93 as the Dax was down 0.64 percent to 6,068.53, the IBEX was 1.34 percent lower to 11,176.5 and the CAC-40 dropped 1.98 percent to 4,139.82.
However, most equities markets in the Asia-Pacific region were also turned down.
Taiwan’s Taiex managed to gain 1.17 percent to 6,182.21 and South Korea’s Kospi added 1.44 percent to 1,481.37 and Tokyo’s markets were closed for a public holiday, but other markets saw downfalls.
The Shanghai Composite fell 1.56 percent to 2,201.51 while in Australia the Sydney Ordinaries was 1.83 percent lower to 4,957.7 and the S&P/ASX200 declined 1.93 percent to 4,923.5.
In Singapore, the Straits Times Index dropped 2.66 percent to 2,476.51 while India’s Sensex declined 3.03 percent to 13,570.31 and the Hang Seng fell 3.87 percent to 18,872.85 in Hong Kong.
At just before 1 p.m. in New York, the Dow Jones Industrial Average fell 0.26 percent to 10,986.62 while the Nasdaq Composite declined 0.1 percent to 2,176.73 and the S&P 500 was down 0.36 percent to 1,202.71.
Crude oil and metals prices chopped down on the session, while grains prices were mixed. The US dollar was at top but the South African rand turned down after the finance minister resignation. Note: If you are UK resident and need quick money then you have ultimate solution for that “Payday Loans” you can apply through this site: http://www.paydayloansnofaxing.org.uk
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2022
