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Home / Business / European shares hit 22-month low as a 'thick blanket of risk' shrouds markets – business live | Business

European shares hit 22-month low as a 'thick blanket of risk' shrouds markets – business live | Business



 A currency trader watches the computer monitors near the screens the foreign exchange rates at the foreign exchange dealing room in Seoul, South Korea.

A currency trader watches the computer monitors near the screens the foreign exchange rates at the foreign exchange dealing room in Seoul, South Korea. Photograph: Lee Jin-Man / AP

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

Pessimism is gripping the global markets this morning, as investors are concerned about a clutch of economic and geopolitical issues. The budget row between Italy and the EU, Brexit the brutal killing of Saudi critic Jamal Khashoggi and America's withdrawal from the In The lack of progress in the US-China trade dispute is not helping either.

] Asian markets have already been hit, with Japan's Topix index sliding by 2.6% and Hong Kong losing 3%. China, which surged by over 4% yesterday on hopes of a government stimulus, has handed back half those gains today.

Markets remain shrouded in "a thick blanket of risk today" as investors fear shares could take a tumble, says Stephen Innes, head of Asia-Pacific trading for foreign exchange company OANDA .


The US dollar outperformed on Monday on the back of Italy and Brexit risk while the more utterance of a prolracted equity correction remains a highly sensitive topic that investors fear could be morph from a wall of worry into a tremendous wall of pain.

Risk aversion continues to permeate every pocket of the markets, whether triggered by President Trump's latest tweets on immigration or the blustery headwinds from Riyadh to Rome; Markets remain shrouded in a thick blanket of risk.

European market is expected to take a jolt when trading begins shortly.

Traders will be watching to see if Brussels orders Rome to rewrite its 2019 budget, which currently contains a deficit target of 2.4% of GDP.

Turkish President Recep Tayyip Erdoğan is due to release more details about Khashoggi's death in the Saudi consulate at Istanbul, in a speech later today.

With international condemnation mounting, Saudi has now called the

(@ KSAmofaEN)

Offenders Will Be Punished pic.twitter.com/xFL4bH93sD


October 22, 2018

19659019] Riyadh is also pushing on with a major investment summit, starting today, but many business leaders have already pulled out.

IG predicts that the FTSE 100 will drop close to a seven-month low, while European markets could hit level


(@ IGSquawk)

European Opening Calls: #FTSE 7005 -0.54% #DAX 11427 -0.84% ​​ #CAC 5025 -0.57% #MIB 18818 -0.78% #IBEX 8751 -0.63%


October 23, 2018

The Agenda

  • 11am BST: CBI Industrial Trends Survey for October
  • 11.30am BST: Bank of England Chief Economist Andy Haldane Speaks at the launch of the OECD 'New Approaches to Economic Challenges Lab' Seminar


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