Wall Street closed on the red, after the bad construction data from the US, a bucket of cold water to investors. The Dow Jones lost 0.11%, the Nasdaq 0.48% and the S&P500 fell 0.05%.The Nikkei is falling for the seventh consecutive day, hitting four months lows. The reason for this decline is said to be the expansion of capital by the nation's largest bank.

OECD is scheduled to release its economic forecasts for developed countries today.

The European stocks are also negative. The Ibex is the most hit, losing 0.40%, followed by the CAC40 losing 0.33%. The FTSE and DAX are falling 0.10% and 0.21%, respectively.