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Economy
In reply to the discussion: STOCK MARKET WATCH -- Tuesday, 27 August 2013 [View all]xchrom
(108,903 posts)11. Stocks Fall as Yen, Bonds Rise on Syria; Oil, Gold Gain
http://www.bloomberg.com/news/2013-08-26/gold-holds-gain-as-wti-climbs-japan-index-futures-drop.html
Stocks fell for a second day, the yen strengthened and bonds rose after U.S. Secretary of State John Kerry said Syria will be held accountable for using chemical weapons. Turkeys lira and Indias rupee weakened to records while oil and gold advanced.
The MSCI All-Country World Index dropped 0.6 percent to 369.04 at 10:15 a.m. in London as Standard & Poors 500 Index futures fell 0.5 percent. Japans currency appreciated at least 0.5 percent versus all 31 of its major counterparts and bonds rose. The lira tumbled to 2 per dollar for the first time and the rupee sank 2.3 percent. Thailands benchmark equity gauge headed for a bear market. West Texas Intermediate crude added 0.5 percent to $106.43 a barrel and gold climbed 0.5 percent to $1,412.07 an ounce.
Kerry said President Barack Obama believes there must be accountability for the moral obscenity of using chemical weapons, fanning concern unrest may disrupt Middle East oil supplies. An Ifo institute report today showed German business confidence rose for a fourth month in August, before data on U.S. housing and consumer confidence.
For anyone who thought that the Arab Spring was going to be a temporary situation, its proven to not be the case, Erik Wytenus, Hong Kong-based head of foreign exchange and commodities at JPMorgan Private Bank in Asia, said on Bloomberg Televisions On the Move with Rishaad Salamat. Youve got a bit of short-term, safe haven, flight-to-quality bid. Emerging markets are being punished by severe capital outflows, which are hitting their currencies inordinately hard.
Stocks fell for a second day, the yen strengthened and bonds rose after U.S. Secretary of State John Kerry said Syria will be held accountable for using chemical weapons. Turkeys lira and Indias rupee weakened to records while oil and gold advanced.
The MSCI All-Country World Index dropped 0.6 percent to 369.04 at 10:15 a.m. in London as Standard & Poors 500 Index futures fell 0.5 percent. Japans currency appreciated at least 0.5 percent versus all 31 of its major counterparts and bonds rose. The lira tumbled to 2 per dollar for the first time and the rupee sank 2.3 percent. Thailands benchmark equity gauge headed for a bear market. West Texas Intermediate crude added 0.5 percent to $106.43 a barrel and gold climbed 0.5 percent to $1,412.07 an ounce.
Kerry said President Barack Obama believes there must be accountability for the moral obscenity of using chemical weapons, fanning concern unrest may disrupt Middle East oil supplies. An Ifo institute report today showed German business confidence rose for a fourth month in August, before data on U.S. housing and consumer confidence.
For anyone who thought that the Arab Spring was going to be a temporary situation, its proven to not be the case, Erik Wytenus, Hong Kong-based head of foreign exchange and commodities at JPMorgan Private Bank in Asia, said on Bloomberg Televisions On the Move with Rishaad Salamat. Youve got a bit of short-term, safe haven, flight-to-quality bid. Emerging markets are being punished by severe capital outflows, which are hitting their currencies inordinately hard.
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