Home Markets Stock market sell-off continues ahead of ECB meeting

Stock market sell-off continues ahead of ECB meeting


Markets: Yesterday for a third straight session it was a case of the dollar up, gold lower again. Stocks were weaker again and are lower this morning, with the FTSE 100 trading close to the 7,000 mark. US futures weaker after the Nasdaq led the decline yesterday. Trading in Evergrande bonds was halted after drop of more than 30% overnight. Nat gas continues to roof with prices north of $4.9, levels not seen since 2014. In Europe and the UK prices are already at records. Bitcoin steadier around the $46k mark so it’s make or break time – bear flag formed.

EasyJet shares tumbled 10% after announcing a £1.2bn rights issue and disclosing that it had turned down an unsolicited takeover offer. The fact that a leading and – going into the pandemic – well-capitalised airline is, some 18 months or so on from the start of the crisis, still needing to raise fresh capital is a sign of the ongoing trouble in the sector. Demand remains…

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