Asian markets, led by a steep declines in Australia and China, have had a bad day.
Here’s the scoreboard.
- Shanghai Composite 4,231.33, (-1.57%)
- Hang Seng 27,691.00, (-0.23%)
- S&P/ASX 200 5,692.20, (-2.3%)
The Nikkei was closed.
Global Equity Futures
- S&P 500 2,085.65, (0.08%)
- DAX 11,375.30, (0.2%)
- FTSE 100 6,886.80, (-0.29%)
The ASX 200 suffered its largest one-day percentage fall since February 2011 and largest points decline since September 2011. Losses were lead by financials which slumped more than 3% following a disappointing quarterly profit result from Australia’s largest bank, the CBA.
Having been up nearly 1.5%, China’s Shanghai Composite was dumped into the close, closing down 1.6%. The Hang Seng, late in trade, is off 0.3%. Japanese markets, probably thankfully, were closed.
In currency markets the US Dollar was down across the board as weak trade data overnight and position adjustments before Janet Yellen speaks later today weighing on the greenback. The Euro, Pound and Aussie Dollar were all up more than 0.3%.
In commodity markets Brent crude has rallied 1.0% while gold is flat.
Bond markets were mixed.
On the economics front Australian retail sales disappointed in March although this was unrelated to the sell off in Aussie stocks.
Looking ahead FOMC Chair Janet Yellen will address the Institute for New Economic Thinking Conference on Finance and Society from 9.15am in Washington.
On the economic front markets will also receive the latest ADP national employment report, MBA mortgage market index, EIA crude stockpiles and Q1 productivity and labour costs from the US, services PMI readings from Eurozone nations and UK along with Greek unemployment.
EUR/USD 1.1227, 0.37%
EUR/GBP 0.7378, 0.17%
EUR/CHF 1.0379, 0.14%
EUR/JPY 134.37, 0.23%
USD/JPY 119.69, -0.13%
USD/CHF 0.9244, -0.24%
GBP/USD 1.5218, 0.25%
AUD/USD 0.7965, 0.29%
Gold $1,193.60, 0.03%
Brent Oil $68.25, 1.08%
10-Year Bond Yields
Japan 0.367%, 0.003%
U.S. 2.196%, 0.02%
Germany 0.538%, 0.021%
UK 1.982%, 0.011%
Australia 2.927%, -0.027%
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