Business Insider
Published Dec 24, 2018 05:19AM ET
Updated Dec 24, 2018 10:14AM ET
Investors are balking at chaos in the White House on Christmas Eve after the most brutal week for US markets in a decade, wading through thin trading and early exchange closures before signing off for the holiday.
It's painting a gloomy picture. "Markets still under pressure from last week’s more hawkish Fed update, exacerbating fears about slowing growth and more expensive refinancing following years of stimulus," said Michael van Dulken, head of research at Accendo Markets, in a note.
Here's the roundup:
US markets are falling, with the S&P 500, the Dow and Nasdaq falling about 0.8%. The S&P 500 is now heading for a 10% slump for the year, its worst since the financial crisis.
In Asia, China's Shanghai Composite closed up 0.4% while Australian markets closed up 0.5%. MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.5% to its lowest in seven weeks.
In Europe, stocks slipped amid weak trading with a number of exchanges closed on Christmas Eve with most closing early. The FTSE 100 fell 0.6% and the French CAC 40 tumbled 1.5%.
The dollar fell 0.3% and gold rose while Brent Crude oil and WTI are both down at least 0.8%
The US 2-year and 10-year Treasuries yield curve flattened to 14 basis points Friday, indicating bond market concerns about slowing global growth and highlighting greater recessionary fears in credit markets.
Written By: Business Insider
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.