Price Plunge as Markets Closed

October 9, 2014

Yesterday world financial markets closed in the red zone due to concerns about deceleration in economic development and the IMF’s lowering of its outlook for global economic growth. The IMF expects the world’s economy to grow by 3.3% in 2014 and by 3.8% in 2015 whereas the previous forecast was 3.4% and 4% respectively.

In Europe, the British FTSE 100 fell 0.21 percent down to 6,482.24 points, the French CAC 40 dropped 0.97 percent down to 4,168.12 points, and the German DAX 30 shed 1 percent finishing the trading session at 8,995.33 points.

On the Russian floor, the MICEX index fell 1.69 percent down to 1,379.76 points, and the RTS index slumped by 2.19 percent closing at 1,082.59 points.

On US floors, the Dow Jones shed 1.60 percent down to 16,719.39, the S&P 500 dropped 1.51 percent down to 1,935.10 points while the NASDAQ fell 1.56 percent making 4,385.20 points in the end.  

On the NYMEX, the WTI oil future for November went down sharply by $1.54 reaching $87.31 a barrel. The ICE price of Brent oil futures for November delivery got lower by $0.73 and made $91.38 a barrel.  

On the Forex market, EUR/USD is on the rise. It’s worth mentioning that the gap from August 25th hasn’t been closed yet.

Anna Gorenkova, NordFX Analyst

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