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27 Aug 2013
Markets sharply lower on Syria, debt ceiling, Fed’s taper
FXstreet.com (Edinburgh) -The likeliness of a US military intervention in Syria is growing bigger on Tuesday, dragging the DowJones to a triple-digit drop, or 0.87%. Another front opened after the US could reach its debt ceiling by October, adding to the bearish sentiment dominating the global markets today. Both the S&P500 and the Nasdaq are following suit, down 1.20% and 1.71%, respectively. The greenback, tracked by the US Dollar Index, is now hovering over session lows below 81.20, retreating markedly after yesterday’s advance.
The Syrian situation also hit bourses in Euroland, offsetting the positive results from the German IFO indicator and dragging the broader Stoxx600 to multi-week lows. The IBEX35 dropped 2.96%, seconded by the CAC40, 2.42% and the DAX, 2.28%. After a very volatile session, the single currency jumped from lows near 1.3320 to fresh weekly highs in the boundaries of the critical 1.3400 the figure, reverting the steep drop post-IFO.
Commodities are rallying, with the ounce troy of gold back into bullish market, up 1.89% at %1,419 while the barrel of WTI is printing fresh highs at $108.91, or 2.82%.
The Syrian situation also hit bourses in Euroland, offsetting the positive results from the German IFO indicator and dragging the broader Stoxx600 to multi-week lows. The IBEX35 dropped 2.96%, seconded by the CAC40, 2.42% and the DAX, 2.28%. After a very volatile session, the single currency jumped from lows near 1.3320 to fresh weekly highs in the boundaries of the critical 1.3400 the figure, reverting the steep drop post-IFO.
Commodities are rallying, with the ounce troy of gold back into bullish market, up 1.89% at %1,419 while the barrel of WTI is printing fresh highs at $108.91, or 2.82%.