Global wrap: Equity markets were locked in a sharp sell-off - ANZ
|In a market wrap, analysts at ANZ Bank New Zealand explained that the equity markets were locked in a sharp sell-off, with concern around how far yields will rise, warnings from the IMF about financial stability risks, and continued trade tensions all driving uncertainty.
Key Quotes:
"Technology and luxury goods stocks led US declines with confirmation that Sears, once an icon of retail, is to file for Chapter 11 bankruptcy protection adding to negative sentiment."
"At the time of writing, the S&P 500 was down 1.4% and the NASDAQ was down 2.2%. Key European indices closed 1.3%-2.2% lower."
"Easy financial conditions and the risks they pose have again attracted attention."
"There was a clear bid for current account surplus countries with both the JPY and EUR finding support."
"Sterling benefitted from growing expectations that a Brexit deal may emerge next week in time for the October EU Summit."
"WTI fell 2.3% and gold was unchanged."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.