Tumbling commodities prices and worries about China's economy pulled stocks sharply lower on Tuesday, while bond yields declined and the dollar rose to a two-week high on bets U.S. officials will soon hike interest rates. Wall Street losses hovered for much of the trading day around 2 percent on selling driven by falls in oil and copper before easing.
European shares were also stung by the commodities sell-off, with the pan-European FTSEurofirst 300 stocks index .FTEU3 finishing down 3.3 percent. "Investors are nervous because there is a sense that the Fed knows more than it is letting on regarding the health of the global economy," said Art Hogan, chief market strategist at Wunderlich Securities in New York...............................................Full Article: Source
|