The fallout from the Fed meeting continues to be felt, with most markets suffering losses. Fears of more political turmoil continue to drive big losses for European markets, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
More losses for stock indices
“Tech stocks are higher in afternoon trading, but then the Nasdaq 100 has been a rare island of bullishness in a generally negative week for equity markets. The S&P 500 has only suffered minor losses, thanks of course to its tech contingent.”
“Followers of the Dow Jones will be hoping that index’s committee gets its act together and includes Nvidia to help the index play catch-up. But yesterday’s cautious Fed meeting and ongoing political worries in Europe continue to put pressure on equity markets generally.”
Europe sinks further into the red
“It has been a week to forget for Europe. Snap French elections have sent investors scurrying from European stocks, just as those markets began to hit their stride after a decade and more of underperformance versus the US.”
“Compared to the prospect of hard-right members sitting in the National Assembly, the UK seems an island of stability, though the FTSE 100 and 250 have not been able to escape the general risk-off move today.”
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