US markets finished mixed as falling oil prices continued to affect energy shares. Sentiment was also lower after the European Commission cut their forecast for global growth to 0.8%, down from 1.2%.
Asian markets finished mixed. The Nikkei continued to climb, adding another 0.44% as the Yen weakened further against the Dollar.
European markets are higher today, rebounding from yesterday’s losses. Gains follow positive earnings releases from companies such a Marks and Spencers.
Oil fell to its lowest price since October 2011. The drop came after Saudi Arabia cut its prices for exports to the U.S by $0.45/barrel. The decision came after exports from the country dropped to a 4 year low. The market seems to be over supplied and demand is on the downside and the stronger Dollar is also impacting prices.
Gold has tumbled to a 4 year low. The Dollar is climbing even higher ahead of midterm elections. Speculation is also high that the Federal Reserve could raise interest rates sooner than expected.
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