30/09/13 – Market Movements

Due to the ongoing fiscal situation in the U.S., markets have fallen as the U.S. is faced with a potential government shutdown.  If this happens it will be the first in 17 years.  In addition, uncertainty regarding the political situation in Italy has caused further unrest.  Meanwhile across globe, we saw Chinese PMI data from rise to 50.2 for September compared from 50.1 in August.

The reading missed the preliminary estimate of 51.2 and as fifty is the threshold between contraction and expansion, this has amplified some of the negative sentiment.