US has Worst Trading Day Since May

<p>FTSE down following overnight falls on Asia and Wall Street. Wednesday was the worst trading day in the US for eight weeks, following continued unease […]</p>

The video cannot be shown at the moment. Please try again later.

  • FTSE down following overnight falls on Asia and Wall Street.
  • Wednesday was the worst trading day in the US for eight weeks, following continued unease over US debt problems.
  • Analysts estimate a default could see equity markets fall by up to 30%.
  • Weak manufacturing and mortgage data raised doubts over recovery in addition to mixed corporate earnings.
  • London is seeing a flight from risk, with the banking sector down 12% in 2011. Gains are expected to be limited until a resolution is reached regarding the debt crisis.
  • In economic data, keep an eye out for US pending home sales and US initial jobless claims data.

 

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.