Everything Is Down...

Published by Filipe R. Costa on Fri, 11/03/2011 - 11:01
market crash

Equity markets were down again yesterday, with the FTSE 100 closing at 5,845.29, - 1.55%. US markets also opened lower and the Dow 30 closed at 11,984.61, - 1.87%. In fact yesterday was a black day across all segments, not only for equities. Gold and crude oil were also hit, with the precious metal bouncing back to near 1400.

The single currency broke bellow 1.38. Debt worries are still in place in the Euro zone. Moody’s downgraded Spain’s government bond rating one notch to Aa2 from Aa1.

Markets opened lower today regarding the news. Japan was struck by a major earthquake, an 8.9-magnitude temblor that shook buildings across Tokyo and unleashed a tsunami as high as 10 meters.

Over the last couple of weeks, we have been assisting to a negative flow of news, that make investing in equities too risky. At the same time, even the US Dollar, a traditional safe heaven has been hit. Let's see when this is going to stop.