Tuesday, 23 September 2014

Markets fall amid negative US and eurozone economic data

Markets fell on Monday. The S&P 500 fell 0.8 percent, the STOXX Europe 600 fell 0.5 percent and the MSCI AC Asia Pacific Index fell 0.8 percent.

The US 10-year Treasury yield declined 1 basis point to 2.56 percent. Copper and Brent crude fell 1.7 percent.

Economic data on Monday were negative.

In the US, the Chicago Fed national activity index fell to -0.21 in August from +0.26 in July, pushing the three-month moving average down to +0.07 from +0.20. Existing home sales fell 1.8 percent.

In the euro area, the European Commission's consumer confidence indicator fell for a fourth consecutive month to -11.4 in September from -10.0 in August as European Central Bank President Mario Draghi told the European parliament that the central bank stands “ready to use additional unconventional instruments within our mandate”.

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