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US Stocks Tumble
CURRENCY TRADING SUMMARY – 2nd September (00:30GMT)
U.S. Dollar Trading (USD) gained heavily in the US session as risk appetite took a massive shift for the worse. Very strong US August Manufacturing PMI data was overlooked at 52.9 vs. 48.9 previously. September is a traditional bear month for equities with the first day not inspiring much confidence. Crude Oil fell $1.91 to close at $68.05. In US share markets, S&P ended -22 points (-2.2%) at 998, NASDAQ ended -40 points (-2.00%) at 1968 and DOW JONES ended -185 points (-1.96%) at 9310. Looking ahead, August ADP private Employment Report forecast at -250k vs. -371k previously. Crude Oil Inventories forecast at -0.8m vs. 0.2m previously.
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