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US markets getting hammered, dollar in highs

FXstreet.com (Barcelona) - American shares are sharply retreating on Wednesday, eroding yesterday’s gains after worrisome results from the financial giant Bank of America Corp. (BAC) and jitters regarding Germany’s credit rating. The US Dollar is the best performer today, climbing over 1% to session highs in the area of 82.70/75.
DowJones is now losing 1.22%, followed by the S&P500 and the Nasdaq, down 1.86% and 2.33%, respectively.

Bourses in Euroland posted their fourth straight session in red, printing at the same time 2013 lows after comments by Buba’s J.Weidmann pointed to the likelihood of the ECB to cut rates should the fundamentals so require it, adding that the euro area may take a decade to come back to the growth path. The CAC40 had the worst performance, losing 2.35%, ahead of the DAX, 2.34% and the IBEX35, 1.83%.
The single currency is losing more than 150 pips since session highs at 1.3200, bouncing off lows in the vicinity of 1.3000 at the moment, as risk aversion continues to dominate the markets.

In the commodities space, both the barrel of WTI and the ounce troy of gold are trading in the red territory, losing 2.65% ay $86.38 and 0.84% at $1,375.

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