Down about 32 points. Nasdaq down as well as about 16. 5 points off. The s p would open down about six points. Lets take a look at whats happening in the european markets after this explosion. Youre also seeing red arrows across the board. Pretty much in sync. A quick check of the oil boards before we get to steve sedgwick, whos following the story for us. Wti crude at 41. 53. Steve is in london right now. Were going to go to steve on this story. Steve . Yeah, thanks very much indeed, andrew. Weve got a map here of the brussels city center. The first attacks we saw after 8 00 local time, 7 00 london time this morning, and there were multiple concerns it was a wide attack. We heard it was up to four explosions in the departure hull of the airport. About an hour later, we heard the rail infrastructure, the metro was being targeted. Down at a station called maelbeek. Thats very important, because thats the station that looks after the eu institutions. You have a whole host of eu buildings
Growth and uncertain growth. The aussie dollar is falling sharply on that news. Australian stocks, on the other hand, rallying more than 2 on the news. In asia, japans markets were closed for the Constitution Day holiday. Chinas Managers Index shrinking to a 14month for its 14th month coming in below forecasts. A bit of a mixed picture. Shanghai compost up 2 . And hang seng almost the lower. All eyes on . Yeah, go for it. Moving forward, in pretty negative territory. And germany is lower than 2. Ftse lower than 1 . Italy and spain off by more than 2 perhaps because the eu trimming its 2016 growth forecast to 1. 8 from 1. 9 . Its 2017 growth forecast from 1. 9 to 2 . Also cut Inflation Forecasts despite their efforts to do Everything Possible to try to lift inflation. Watching european financials, ubs reporting a sharp decline in management wealth business. Which was supposed to be all the european banks going into wealth management, they were going to be smoother when it comes to their
Days. Francine it is all about the fed, and those odds about them hiking just got that much lower. Tom but i would also suggest it is about the real economy. John norman joins us from bank of America Merrill lynch. This is a real economy discussion filtering in. Francine lets get to bloombergs first world news in new york. Isnie president obama pushing back his timetable to bring americans home from afghanistan. The white house is expected to announce today that they will keep at least 5000 troops there 2016. 2016 according the taliban and has stepped up attacks since the u. S. Ended combat operations in afghanistan left december. More problems for volkswagen. They see some they face a mandatory recall in germany after cheating on omissions tests. Regulators rejected their proposal for a voluntary callback. At majore delays airports across the u. S. Last night because of a computer used for terror watch lists. The outage lasted 90 minutes. Authorities dont think it was intentional. Don
It is the draghi induced bounce in the equity market. 39 crude once again. Tom nine days away from the fed dating, and commodities are the back story that could become a atnt story very quickly look what iron or did over the jonathan tom keene with us for the next two hours. Obama says the San Bernardino massacre enters a new phase in the terrorism fight. To these fears cause by the randomness of the california in paris attacks, and declared allies,reased help from we will defeat the Islamic State. Our military will continue to hunt down terrorist plotters. Have rampedallies up their contributions to our military campaign, which will help us accelerate our effort to destroy isil. California, government offices that have been closed since the incident will reopen. The man accused of stabbing two people at a subway stop your the incident prompted stepped up security, and police described it as an act of terrorism. The 29yearold is charged with attempted murder. Wellan threatened others s
Slowing in the Housing Market might have constrained the rise in household leverage, as mortgage debt growth would have been slower. But the job losses and higher Interest Payments associated with higher Interest Rates would have directly weakened households ability to repay previous debts, suggesting that a sizable tightening may have mitigated vulnerabilities in household Balance Sheets only modestly. Similar mixed results would have been likely with regard to the effects of tighter Monetary Policy on leverage and reliance on shortterm financing within the Financial Sector. In particular, the evidence that low Interest Rates contribute to increased leverage and reliance on shortterm funding points toward some ability of higher Interest Rates to lessen these vulnerabilities, but that evidence is typically consistent with a sizable range of quantitative effects or alternative views regarding the causal channels at work. 4furthermore, vulnerabilities from excessive leverage and reliance