Major Index NASDAQ (IXIC) Sell Off After Equities Fall, Will the ECB Turn Hawkish?
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Summary:
- Despite growing confidence in the stock market, major indices are struggling to keep up with the volatile market.
- The ECBs turn to a hawkish attitude could lead toward a stronger Euro.
Nasdaq loses value during the trading day on Thursday
Equity stocks attempted to rebound during trading on Thursday after a sell-off. The sell off came as market participants grew concerned about whether the Fed’s continuous hawkish attitude could cause a slow down in the U.S economy. In general the investor sell-off attitude seems to be easing somewhat, however markets still remain volatile.
NASDAQ Price Chart
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European Central Banks possible tightening of monetary policy
During trading on Thursday the Euro saw some strengthening based on the hopes of a more hawkish European Central Bank (ECB) in the summer. As the European Central Bank looks at a 50bps hike in interest rates this July, investor confidence is starting to restore in the Euro.
The Euro showed particular strength against the pound sterling, which simultaneously pushed back their next interest rate hike.
Sources: pounsterlinglive.com, finance.yahoo.com
