Wall Street in the red: oil drops, back to risk-off?
|Wall Street was down having partially recovered the sell-off while oil remained a dominate factor.
The theme was back to risk-off. Oil and telecoms set off a wave of supply across the board with WTI down back onto the $50 handle and breaking below the 10 dma at 50.82. DXY was up to the highest levels since March and moved by 0.4% to close at 98.32, helped along by the ECB's President, Mario Draghi's, comments on their monetary policy who essentially left markets in suspense in relation to potential for further QE before 2017, adding to the uncertainty post the final presidential debate yesterday for the US shift today.
The S&P 500 index finished down 2.95 points, or 0.1% at 2,141.34, with telecoms down a 2%. The Dow Jones recovered the 74 point sell-off earlier in the session and ended lower by 40.27 points, or 0.2% to 18,162.35. Meanwhile, the Nasdaq fell by just 4.58 points in the end, or 0.1%, to close at 5,241.83, after being down by as many as 30 points earlier in the session.
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.