NEW YORK (MarketWatch) — The U.S. stock market finished Thursday’s
volatile session lower, extending the losing streak to five straight
sessions after the Swiss National Bank stunned global markets by cutting
its currency cap with the euro.
The main benchmarks struggled to hold on to opening gains, as a shock move by the SNB to lift its currency ceiling, disappointing earnings results from large banks, as well as a mixed bag of economic releases also sapped confidence.
The unexpected move to ditch its currency ceiling and implement a rate cut by SNB shook up currency, commodity and equity markets around the world, as the move created uncertainty among investors, who have grown accustomed to rely on central banks to prop up markets.
Read more Click Here / www.trade4x.net
The main benchmarks struggled to hold on to opening gains, as a shock move by the SNB to lift its currency ceiling, disappointing earnings results from large banks, as well as a mixed bag of economic releases also sapped confidence.
The unexpected move to ditch its currency ceiling and implement a rate cut by SNB shook up currency, commodity and equity markets around the world, as the move created uncertainty among investors, who have grown accustomed to rely on central banks to prop up markets.
Read more Click Here / www.trade4x.net
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