FXstreet.com (Barcelona) - Wall Street markets have opened lower on the first session of the week; risk aversion seems to have returned to the markets as investors confidence in the banking system seems to have weakened, ahead of a string of corporate earnings results.
Dow Jones Industrial Index drops 2.18% lower than its opening level, and the Nasdaq Index drops 2.42%, while the S&P Index trades 2.37% below its opening level half an hour after the opening time.
Banks are suffering a renewed selling pressure on early trading. Bank of America shares have dropped 9% despite the Bank's first-quarter net income having tripled. Citigroup lost 9% and Wells Fargo dropped about 6%.
Euro and Pound drop lower
The Euro has reacted negatively to Wall Street news and the pair has dropped further. EUR/USD has dropped below 1.2945 previous intra-day low and trades 0.92% below its opening level at 1.3045.
The Pound's attempt to recovery was short lived and GBP/USD has resumed downtrend falling below 1.4535 intra-day low, reaching 1.4515 right after Wall Street opening.
USD/JPY remains in a range from 98.20 t0 99.60 although the pair seems to be approaching tyhe lowest side of the range
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