Dow sagged 2.36% on global economic concerns

Note: This section contains information in English only.
Source: Dukascopy Bank SA
US Blue chips sagged on risk-off Wednesday's trade as investors were cautious after the European Commission downgraded its growth estimate for the eurozone. The market sentiment was also weakened by uncertainty over the US tax increases and spending cuts due to come in force in January. Moreover, market participants focused on the Chinese Communist Party Congress due on Thursday. The Dow Jones Industrial Average Index plunged 2.36% to close at 12,932.73 . All companies included in the index posted sharp losses. The worst-performers were lenders and oil and gas firms. Bank of America and American Express lost 7.14% and 2.83% on concerns that financial sector will face more pressure due to potential regulatory constraints as Barack Obama was elected for the second term. Exxon Mobil and Chevron sank 3.81% and 2.64% on weak crude oil prices.  Meanwhile, Boeing shed 2.65% on news that the company plans to reduce the number of executives at Boeing Defence, Space & Security by the end of the year.


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Thu, 08 Nov 2012 09:30:24 GMT

German exports and imports decline in September

Exports in Germany fell 2.5% in September from the previous month, offsetting a 2.3% increase in August, according to Destatis. Economist had projected a 1.5% monthly drop. Imports declined 1.6% after growing 0.4% in August. The trade surplus increased from EUR 16.3 billion in August to EUR 16.9 billion and was more than EUR 15.5 billion economists' forecast. 

Thu, 08 Nov 2012 14:17:22 GMT

Wall Street plunged on US fiscal cliff, eurozone woes

Wall Street slammed on Wednesday amid warning signals from the eurozone and lingering concerns over the US fiscal cliff. The European Commission cut its growth estimate for the region from 1% to 0.1% for 2013. It also lowered German forecast from 1.7% to 0.8%, raising concerns over health of the eurozone's strongest economy. Meanwhile, investors remained cautious ahead of the

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