With the start of the G7 meeting still a while away it looks like it is going to be a long day for the anxious markets.
There was no real sign that Friday’s losses were going to disappear any time soon, as investors continued to fret over the fact that the get-together in Quebec was, best cast, going to result in little progress in regards to the present trade tensions, or, worst case, actually cause the big orange baby’s to become more entrenched in his aggressive stance.
The FTSE maintained a 50 point fall as the morning went on, leaving the index at an 8 day, sub-7660 low. The DAX, meanwhile, managed to reduce its losses to around 90 points, allowing the German index to scrabble back above 12700. It was likely aided by the euro shedding half a percent against the dollar and 0.4% against the pound, shedding the growth seen following Wednesday’s comments from Peter Praet’s about next week’s ECB meeting.
It looks like the Dow Jones is going down with its European peers this Friday. The futures have the index dropping 100 points after the bell. That move would still, however, keep it above 25100 and mean it has risen more than 500 points this week. despite the looming likelihood of a Fed rate hike next Wednesday.
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