LIVE MARKETS – Closing snapshot: bye, bye Xmas rally? thomson reuters

Wednesday, Dec 05 2018 by

Closing Snapshot: Bye, Bye Xmas Rally? (1739 Gmt)
Worries over a global economic slowdown and trade jitters kept markets under pressure today, sending the pan-European STOXX 600 index down 1.2 percent to its lowest level in around 2 weeks.

All major European indexes declined, making a Xmas rally (December is traditionally a good month for stocks) a somewhat more remote prospect.

Remember when on Monday investors were hoping that the trade truce between China and the US would mark the start of a happy ending to a turbulent 2018?

That being said, December is just beginning.

First thing will be to see what Wall Street will do when it reopens tomorrow following today's closure in honour of former president George H.W. Bush.

Will flattening yield curves still raise the spectre of a recession?

Anyhow, here's your closing snapshot for the day:

(Danilo Masoni)

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