Market Snapshot – Stock Markets in the Red as Global Risk Increases

Stock Markets Move Lower

The effects of the terrorist attack in Spain yesterday night continued to be felt in the markets today as the stock markets in Asia and Europe reacted negatively to the increase in global risk. The attack had happened late in the evening and the Asia and the European markets did not get much time to react to the event and with the US stock indices crashing through the course of the day yesterday, it was the turn of these markets for today as they moved lower with most of the Asian stock indices closing in the red and the European markets have also been following the same template as of this writing. The data from any part of the market has mattered little today and the market now awaits to see how the US stock indices open for today.

Dollar On The Backfoot

The dollar is clearly on the backfoot with the Trump administration and its policy bungles continuing to grab the headlines. It seems that the market has still not got over its Trump effect and anything that he says or does has been in the news and causing the dollar to be choppy. It looks as though the dollar is no longer under the control of the Fed and it seems to be moving more according to the whims and fancies of the Trump administration and if this is going to be the case for the next 3 years when the Trump team is going to be in charge, the dollar is going to have a very difficult time.