Financial Markets Review

FTSE-100 falls 7%, gold near $1000Global equity markets posted heavy falls this week on weak economic data and fears over the stability of the US financial sector.
 

FTSE-100 falls 7%, gold near $1000

 

Global equity markets posted heavy falls this week on weak economic data and fears over the stability of the US financial sector.

 

The flight to quality from equities boosted the dollar, pushed down government bond yields and lifted gold close to $1000. The FTSE-100 fell below 4,000 to a 3-month low.

 

The euro fell against sterling on fears about the exposure of euro zone banks to Eastern Europe. The yen and Swiss franc saw their role as safe haven currencies challenged.

 

Weaker equities weighed on global bond yields and swaps, but BoE minutes and US supply concerns provided support for yields.
 

 

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