The FTSE fell 28 points (.35%), The DAX fell 75 points (.38%) and the CAC fell 41 points (.57%).
Spanish inflation data showed a 2.8% inflation rate in November. This was above the 2.6% expected. This has strengthened the case for the ECB to take a more cautious approach to future interest rate cuts.
US markets fell heavily as well.
The DOW fell 418 points (.97%), the NBI fell 67 points (1.54%), the NASDAQ Composite fell 235 points (1.19%) and the Russell small cap index fell 16 points (.75%).
The Santa rally has failed to materialise in 2024. Investors are taking profits from "growth" stocks such as AI companies which have had a bull run in 2024. DOW is experiencing its worst December record in six years.
Oil prices rose on news that US oil reserve stocks have declined.
The US Treasury 10 year bond yield sits at 4.541%
Oil prices are up - Brent crude sits at US$74.11 per barrel.
Precious metals dived - gold is at US$2,607 per oz.
BITCOIN softened and is at US$93,983.
IMU Price at posting:
3.6¢ Sentiment: Buy Disclosure: Not Held
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