- European indices had their worst session since October
- US stock under heavy selling pressure
- Oil plunges 8%
European indices finished today's session deeply in red and posted their worst day since October amid concerns over inflation and rising number of new Covid-19 infections around the world. Economically sensitive market sectors such as energy and financial companies were hit hardest. England lifted all remaining restrictions today amid skepticism among epidemiologists as COVID-19 cases spread. On the political front, market participants continued to monitor a possible shift to the dynamic of Germany's upcoming elections following the country’s weather disaster, with the centre-right bloc’s lead over the Greens narrowing to 10%. DAX 30 fell 2.6%, CAC40 lost 2.54% and FTSE100 finished 2.34% lower.
Negative moods prevail also in the US where all three main US stock indexes fell 2% on average, with cyclical stocks including airlines and banks among the worst performers. The yield on the benchmark US 10-year Treasury note reached a 5-month low of 1.177% after hitting 1.45% early in the month. Meanwhile, the earnings season continues United Airlines, American Airlines, Johnson & Johnson, Coca-Cola, Honeywell, IBM, Intel and Netflix due to report during the week.
إبدأ بالإستثمار اليوم أو تدرّب على حساب تجريبي
إنشاء حساب حساب تجريبي تحميل تطبيق الجوال تحميل تطبيق الجوالWTI crude plunged more than 8.00% and broke below $66.00 a barrel for the first time since end of May, while Brent is trading nearly 7.00% lower around $68.60 a barrel after OPEC+ decided to increase the oil supply from August until December 2021 by a further 2 million bpd or 0.4 million bpd a month. Elsewhere gold managed to erase most of the early losses and is trading 0.17% lower around $ 1,807.00 / oz, while silver lost 2.25 % amid a stronger dollar.
Silver has been trading in a local sideways move recently, however today sellers managed to break below the support at $25.60 which now acts as a resistance. If current sentiment prevails, traders should focus on the $24.90 handle, where the previous price reactions can be found and $23.71 which is marked with the lower limit of the 1:1 structure. However, in case buyers will manage to regain control then upward move towards the aforementioned $25.60 level may be launched. Source:xStation5
