Market News

European equities fell sharply in choppy trading on Monday, with concerns over Greece's future in the euro zone and a steep drop in prices of crude oil and copper hurting financial and commodities stocks the most.

The Euro dropped to below $1.20 against the U.S. Dollar during Asian trading on Monday as investors await key Eurozone data to get a hint on what actions the European Central Bank might be forced to take in order to return the Eurozone’s economy to sound health.

The euro fell to its weakest in almost nine years against the dollar amid speculation the European Central Bank is moving closer to large-scale bond purchases.

The dollar rose to its highest level in more than five years and U.S. stock-index futures advanced before the release of American factory data.

U.S. stocks fell on Wednesday as crude oil prices continued their descent. The S&P closed out a third straight year of double-digit gains.

Though late trading is expected today, the U.S. Dollar is poised to end out the year more than 12% higher against a weighted basket of its major peers, the strongest gain in nearly 10 years and likely, according to industry analysts, a good indication of what investors are likely to see in the coming year.

Crude oil continued its fall, heading for its worst year since 2008 amid speculation that reports of U.S. stockpiles today will fuel concern over a global supply glut. Asian stocks climbed while nickel and aluminum gained.

Despite efforts by the Japanese government and its central bank, the safe haven Japanese Yen surged versus both the Euro and the U.S. Dollar in the wake of a yet another fall in oil prices which has jittered markets’ nerves over perceived possible economic risks in the coming year.

Asian stocks fell amid shrinking volumes, with the regional index heading for its first annual drop since 2011. The yuan slipped to the weakest level since June, while oil climbed from a five-year low.

The common currency Euro remained close to a 2-year trough as an impending vote in the Greek parliament could be the trigger point for the latest concerns over Greece’s future.

Asian stocks tip-toed higher on Monday, following fresh gains on Wall Street, while the euro wallowed near 28-month lows versus the dollar on nervousness ahead of a vote in the Greek parliament that could result in snap elections.

Chinese stocks rose and the yen headed for a second weekly decline against the dollar on speculation governments will step up stimulus to bolster their economies. Precious metals advanced with oil.

China’s stocks rebounded from the biggest two-day loss in 18 months as construction companies and banks gained amid speculation the government is taking steps to boost lending and provide financial support for companies to develop their overseas business.

The U.S. Dollar Index edged closer to a 9-year peak after it was reported that the last and final reading of third quarter.

Japanese stocks rallied and the dollar stood tall on Wednesday thanks to surprisingly robust U.S. economic growth, helping investors head into the Christmas holidays in a more relaxed mood after the global markets turbulence of the past two weeks.