Very interesting comparisons with global markets overnight - and the Atlantic markets were driven by different agendas.
European markets surged on plans to ramp up defence spending and were at record levels. Some defence companies were up as much a 15%.
The FTSE rose 61 points (.70%), the DAX rose 595 points (2.64%) and the CAC rose 88 points (1.09%).
In the US, markets were all down fairly dramatically. Main reason was the impending tariffs on Canada and Mexico which are due to come into force tomorrow.
Trump stated that "there was no room left for negotiations" for tariffs with Canada and Mexico.
The DOW fell 649 points (1.48%), the NBI fell 91 points (2.02%), the NASDAQ Composite fell 497 points (2.64%) and the Russell small cap index fell 60 points (2.81%).
Data showed that the US manufacturing sector has slowed in February with cost increases and a contraction in employment.
I suspect that we will see a lot of volatility in global markets over the next week or so - and maybe the US markets and the ASX will be most affected.
US Treasury 10 year bond yield fell to 4.16%
Oil prices fell - Brent crude is at US$71.36 per barrel.
Precious metal prices nudged up - Gold is sitting at US$2,891 per oz.
BITCOIN rose to US$86,179.
IMU Price at posting:
3.6¢ Sentiment: Buy Disclosure: Not Held
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