Very bleak global trading overnight.
The FTSE fell 61 points (.81%), the DAX fell 156 points (.92%) and the CAC fell 64 points (.84%).
UK CPI data out tomorrow.
Global markets were all affected by the hotter than expected US CPI data released overnight.
US CPI for January rose .3% (3.1% annualised). Market expectations were for a .2% rise (2.9% annualised).
US core inflation rose by .4% (3.9% anualised). Market expectations were for .3% (annualised at 3.7%). That figure was still lowe than January's 3.4% annualised.
US markets had a bit of a meltdown.
The DOW fell 524 points (1.35%) - was down almost 800 points after the CPI figures were released.
The NBI fell 111 points (2.53%). The NASDAQ Composite fell 286 points (1.80%). The Russell small cap index had a really bad day (This index does give an indication of the markets willingness to take risks - and the markets would appear to be moving towards being risk averse). The Russell small cap index fell 81 points (3.96%). Down by over 4% for most of the trading session.
US Treasury 10 year bond yields surged to 4.32%. Rises in bond yields normally indicate that funds are leaving the share markets and gold investments.
Interesting graph showing how US 10 Year yield have moved over the last 12 months.
Oil prices also rose - Brent crude at US$83
The gold price slumped to below the US$2k mark - US$1992.
Why IMU is a multi multi bagger, page-21408
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