US has Worst Trading Day Since May – 28th July Market Update

Fiona Cincotta of City Index (www.cityindex.co.uk brings you the latest market news affecting your financial trading. Headlines include: – FTSE down following overnight falls on Asia and Wall Street. – Wednesday was the worst trading day in the US for eight weeks, following continued unease over US debt problems. – Analysts estimate a default could see equity markets fall by up to 30%. – Weak manufacturing and mortgage data raised doubts over recovery in addition to mixed corporate earnings. – London is seeing a flight from risk, with the banking sector down 12% in 2011. Gains are expected to be limited until a resolution is reached regarding the debt crisis. – In economic data, keep an eye out for US pending home sales and US initial jobless claims data. For more valuable trading tips from City Index, sign up for a free seminar or webinar at www.cityindex.co.uk Spread betting and CFD trading are leveraged products which can result in losses greater than your initial deposit. Ensure you fully understand the risks.