OctaFX | OctaFX Forex Broker
Open trading account
Back

Wall Street opens deep in red amid concerns over global economic slowdown

With global equity indexes suffering heavy losses on Monday, Wall Street opened the week sharply lower as concerns over a slowdown in the global economic growth continue to weigh on the market sentiment. As of writing, the Dow Jones Industrial Average was down 0.55% on the day while the S&P 500 and the Nasdaq Composite were losing 0.7% and 1.1%, respectively.

Earlier today, the disappointing trade data from China, which showed a decline of 7.6% in imports and 4.4% in exports, revived fears that the world's second-biggest economy is likely to continue to underperform. Meanwhile, the first batch of Q4 earnings started to come in today with Citigroup posting an unexpected fall in revenue and further damaging the risk appetite. 

All 11 major S&P 500 sectors are in the negative territory in the early trade with utilities and technology both erasing more than 1%. 

AUD/USD stays in red below 0.72 as DXY recovers daily losses

The AUD/USD came under heavy selling pressure in the early Asian session on Monday and broke below the 0.72 mark. Although the pair was able to retrac
Read more Previous

EUR/SEK bounces off lows, back around 10.25

After an initial drop to the 10.2250 area, EUR/SEK managed to revert the down move and advance to the current 10.25 region, where it is now looking to
Read more Next
Start livechat