Panic hit the markets worldwide yesterday, pushing the Dollar higher and higher against all majors except for the Yen. U.S. stock market crashed before closing by more than 9%, putting investors in chaotic mood. After the sheer panic the stocks quickly rebounded, but the three major indices are still more than 3% decline. This huge stock market sell-off was probably caused by concern that Europe’s debt crisis will halt the global recovery. Some observers question whether there is a technical error, resulting in the market into chaos. By the end of the day NASDAQ closed at - 3.44% and Dow Jones at - 3.20% respectively. Crude oil continue to fall, dropping by 3.6% and closing at 77.1$ a barrel. Gold (XAU) jumped to new yearly highs, gaining by 1.9%, the highest price since December, closing at 1207$ an ounce. Today, Non-Farm Employment Change is expected to rise from 162K to 198K and Unemployment Rate is expected to remain at 9.7%.
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