Spreadex Market Update
US equities open in the red
US equities opened in the red, following yesterday’s biggest drop in two weeks. European markets also remained in negative territory amid data which showed the economy grew slower than analysts’ estimated last quarter. However, US unemployment claims unexpectedly fell to 311,000, beating the 326,000 estimate.
Investors remained nervous following President Barack Obama’s comments last night after he warned the crisis in Ukraine may escalate. Investors took this opportunity to take some risk of the table, sending markets lower.
Data from the UK showed that British retail sales rose much faster than forecast in February. Although the market was unfazed, the data suggests the economy’s continues its solid recovery. The latest figure showed retail sales increased to 1.7%, far better than the 0.5%.
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