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On Tuesday, an ugly start to EU trading pushed world equities towards their lowest value for a year due to the fact downbeat drivers from Saudi Arabia's diplomatic isolation to fears about Italy's finances as well as trade clashes pressured market sentiment.
Selling that came from Wall Street generated a devastating selloff in Asia right before affecting European markets, already facing a fifth losing day.
The tech sector reported the worst performance after chip manufacturer AMS dived by 17% because its outlook generated fears.
The STOXX 600 reached a two-year minimum with nearly half of its equities currently in bear-market territory, losing 20% from their maximum.
The DAX slipped to 2016 minimums in Germany. The FTSE approached April minimums in Great Britain. Additionally, MSCI's world share index found itself two points of a one-year minimum.
The common currency also dived to a two-month minimum.
Financial markets were also waiting for Turkey's leader to reveal his country's attitude to the killing of Saudi Arabian reporter Jamal Khashoggi that occurred in Turkey, at a Saudi consulate.
Saudi Arabia, which is a number one crude oil exporter, is currently facing international pressure to provide all the necessary facts about that tragic incident, which has provoked a storm worldwide and contributed to the threat of international sanctions against the country, thus generating market worries.
Market participants are afraid that it might force Saudi to retaliate through oil. Nevertheless, a Saudi promise to stay responsible in the market held down oil prices on Tuesday.
As a matter of fact, Brent crude futures were worth $79.51 a barrel, decreasing by 0.4%. American West Texas Intermediate crude futures hit $69.12, diving by 0.35%.
Meanwhile, versus the greenback the Japanese yen managed to surge by 0.4% against the backdrop of the risk-off mood hitting 112.42.
On Wednesday, American stock index futures headed south because dismal data out of China affected market sentiment, while traders waited for more developments related to the US-China trade conflict…
On Wednesday, Italian stocks led losses in the European Union right after the country's deputy prime minister told that Rome considers breaking EU fiscal rules, thus masking early revenue powered by optimism around the US-China trade conflict…
On Tuesday, another US-China tariff conflict escalation put pressure on Asian stocks, although remarks from American leader that he expects trade talks to be successful backed market sentiment…
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
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