European equities slip towards 1-year minimum

European equities slip towards 1-year minimum

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.

Similar

American futures go down

On Monday, American futures generally declined because Apple equities were affected by fears of decelerating demand for iPhones, and new signals of a potential escalation in the China-US trade conflict also contributed to market jitters…

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera