FXstreet.com (Córdoba) - Markets in the US tumbled on Wednesday, with the Dow Jones falling 1.14% and the Nasdaq 1.26%. Dollar is consolidating gains across the board.
U.S. equity markets are trading lower as investors dump higher risk assets. The weakness started on the Shanghai Exchange overnight after China asked banks to stop lending for the rest of the month. This sent a signal to traders that the easy money environment will be coming to a close, James Hyerczyk, analyst at ForexHound.com, commented.
Commodities are trading sharply lower on Wednesday. Crude oil fell below $78 a barrel to trade near yesterday's low at $77.00. Gold broke below $1,125 and fell to $1,106, the lowest price in two weeks. The yellow metal currently trades at $1,111.90.
Greenback rally eased in the last hours but the US Dollar holds near intra-day highs. EUR/USD is hovering around 1.4100 after the pair found resistance at 1.4115. GBP/USD is steady moving inside a small range between 1.6260 and 1.6290. USD/JPY trades at 91.22/26, 0.11% above today's opening price.