Most major exchanges opened lower today as fears about US-Russian relations over Ukraine and missed revenue targets from major tech firms keep a downward pressure on the market.
Across the globe a US stock selloff saw indices go down as weekly slide continues. Dow Jones is only down -4.92 points or -0.01% at present, but S&P500 is trading 18.62 lower or 0.69%, while the NASDAQ index took the brunt with -167.24 or 1.18% as of writing.
While geopolitical reasons or the ongoing effects of the pandemic could be to blame, some may be fearful of the recent signals from the FED to begin their tapering measures with 3 to 4 interest raises this year alone in their road map.
Similarly, indices across Europe suffered as well with the FTSE100 down 0.76%, The German DAX40 trading 1.34% lower and the French CAC40 at -1.9% since yesterday.
Other benchmarks such as the WTI oil are down 1.59% to 84.18$, while Brent is 1.53% lower at 87.03$ per barrel.
Not surprisingly, prices for both Gold and Silver have gone up. Gold prices are up 1.7% to $1,843.20/oz with Silver up 3.2% to $24.23/oz. As precious metals are viewed as a form of hedge against adverse economic effects there is little surprise over the price increases of both AU and AG.