Oriental Fortune Network reported on the 8th that European and American stock markets both closed down on Tuesday (March 7). The recent continued pullback of US stocks has caused investors to worry that the market may fall into a rest after the S&P 500 index and Nasdaq index rose for six consecutive weeks and hit new highs many times; European stock markets fell slightly, and the market focused on the European Central Bank meeting later this week. The Fed's interest rate hike in March was "arrow on the string", gold prices hit a three-week low, and the outlook was worrying; oil prices fluctuated on Tuesday and remained steadily and lingered for four consecutive months. The US dollar index rose slightly; the pound continued to fluctuate against the US dollar, hitting a new 7-week low. The latest data from
shows that the total amount of consumer loans in the United States increased by US$8.8 billion in January, an annual growth rate of only 2.8%, the lowest level in five years, which means that the momentum of the economic growth engine has weakened, lower than previous expectations.
The U.S. government released its January trade deficit, which rose 9.6% month-on-month to $48.5 billion, a five-year high, indicating that the problem of reducing the deficit that the Trump administration has to face is quite tricky, and the market's average expectation for this is $48.8 billion.
The Organization for Economic Cooperation and Development (OECD) warned on Tuesday that recent rises in U.S. stock markets and other assets have deviated from expected economic growth, and if reversed, it could weaken economic growth or derail the already moderate recovery economy.
US stocks continued to fall on Tuesday. Trump's tweets caused biotech stocks to fall sharply.
US stocks continued their recent decline on Tuesday. The three major stock indexes all fell slightly at the close. The biotech sector, airlines and shipping industries led the decline on the market. Investors are currently worried that the market may need to take a break after the S&P 500 and Nasdaq index rose for six consecutive weeks and hit new highs several times. U.S. President Trump said on Tuesday that he was working on a plan to lower drug prices. Affected by his speech, the biotech sector generally fell, with the biotech sector in the S&P 500 falling more than 1%.
ended the closing, with the Dow Jones Industrial Average falling 29.58 points, or 0.14%, to 20,924.76 points; the S&P index fell 6.93 points, or 0.29%, to 2,368.38 points; and the Nasdaq fell 15.25 points, or 0.26%, to 5,833.93 points.
Eurozone National inflation soared, European stocks closed slightly lower
European stocks closed lower on Tuesday (March 7), and the stock prices of large international drugmakers suffered a heavy blow, after US President Trump tweeted that he would lower the drug prices. The latest release of German economic data, the largest economy in the euro zone, performed poorly, while markets are waiting for the European Central Bank to release policy updates later this week.
ended the closing, the European Stoke 50 index fell 0.10% to 3384.50; the German DAX index closed higher by 0.08%, the UK FTSE 100 index fell 0.15%; the French CAC 40 index closed down 0.37%.
March interest rate hike is imminent, gold prices hit a three-week low, and the outlook is worrying
International gold futures prices fluctuated and fell on Tuesday (March 7), with the US market falling at the lowest level of $1,216.19/ ounce . The gold price has broken the 1,220 mark and hit a three-week low. Market towns are currently waiting for US non-farm employment data this week and more details of Trump's economic plan. At the same time, the U.S. rate hike this month is expected to be high, and gold prices are under obvious pressure because gold has fallen five of the Fed's past six meetings.
As of press time, COMEX April gold futures were reported at $1,216 per ounce, down 0.78%.
Oil prices fluctuated and remained stable on Tuesday, hovering narrowly for four consecutive months
International crude oil futures price fluctuated and remained stable on Tuesday (March 7). Saudi Energy Minister's speech caused oil prices to give up some of the previous gains. At the same time, the market expected that US crude oil inventories would rise for the ninth consecutive week last week, further limiting the upward space of oil prices. The price of US WTI crude oil futures reached a high of US$53.79 per barrel during the session, and the price of Brent crude oil futures reached a high of US$56.64 per barrel during the session.
As of press time, US WTI crude oil futures fell 0.15% to $53.12 per barrel; Brent crude oil futures fell 0.11% to $55.88 per barrel. The
dollar index rose slightly, and the pound hit a 7-week low against the dollar
dollar index rose slightly on Tuesday, as European political risks and Fed rate hike expectations heated up, providing support for the dollar.The euro continued to fluctuate slightly against the US dollar, and the market is currently focusing on the European Central Bank resolution this Thursday and is expected to remain calm. Under the double pressure of doubts about Brexit negotiations and the expectation of Fed interest rate hikes, the pound continued to fluctuate against the US dollar, falling below the 1.22 mark at one point, hitting a 7-week low of 1.2181.
As of press time, the US dollar index rose 0.14% to 101.8182; the euro fell 0.13% to 1.0566; the pound fell 0.31% to 1.2202; the US dollar rose 0.09% to 114.0470; the US dollar rose 0.07% to 1.3417; the US dollar rose 0.07% to 6.9000 against the RMB.
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