The Dow Jones’ winning streak appeared to come to an end on Thursday, with the US index dropping 120 points after the bell rang on Wall Street.
That decline, at least in part informed by Donald Trump threatening the EU with ‘tremendous retribution’ through auto tariffs last night, took the Dow back under 25100, undoing the growth seen in the last couple of sessions. The dollar’s strength likely played its role as well; the greenback stole another half a percent off the pummelled pound, while nabbing 0.3% off the euro.
Like the Dow Jones, the Eurozone indices were shaken by Trump’s latest trade war tantrum, spending Thursday all rouged up. The CAC dropped 0.6%, but managed to keep above 5400, while the DAX slipped around 80 points, dragging the German bourse back under 12700 and away from Wednesday’s one month highs.
The FTSE was alone on Thursday, the only major index not to dip into the red. It benefited from sterling’s shoddy showing, the currency’s collapse countering the copper-led losses in the mining sector. Not that the FTSE was in a particularly great state; the index spent the day effectively flat around 7680, with a bit of ground to make up if it wants to get back to its 7700-plus recent highs by the end of the week.
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