13th September 2011
Investors on the Dow Jones are continuing to feel the pinch amid ongoing fears over eurozone debt.
CNN Money reports the Dow Jones Industrial Average, S&P 500 and Nasdaq all started the day mostly lower, shifting just either side of breakeven at the opening bell of trading.
The outlook for today (September 13th) therefore looked choppy, with the market unsure of its position.
Mark Luschini, chief investment strategist at Janney Montgomery, commented: "Almost regardless of what we see, all eyes are going to be focused on what news is coming from Europe and the market is largely going to be trading off of that."
However, a joint statement by French president Nicolas Sarkozy and German chancellor Angela Merkel has helped to stabilise markets, as the pair claimed they are "determined" to do what is necessary to ensure the future prosperity of the region.
Yesterday, the FTSE 100 saw an overall decline following the publication of the Independent Commission on Banking report.
The market fell by more than two per cent early in the day, but recovered somewhat towards the end of trading after the report advised banks should raise capital requirements higher than those currently set out as part of the Basel III agreement.
Posted by Andrew Cottrill
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