March 4, 2021

Spain and Greece Back ‘drowned’ Wall Street

Global stock markets weakened along with the value of the euro fell to its lowest level in two weeks. Because the negative sentiment again blanketed Europe.

As reported by Reuters, It is suspected by the emergence of opposition in Europe to oppose policies to resolve the eurozone debt crisis. Market participants also focused on the prospect of weaker global economic growth,

Investors are looking at the situation in Spain. Where the major stock indexes Matador State’s drop to 3.9 percent. This comes amid concerns about Spain’s commitment to reform the country’s shopping after massive demonstrations.

Strikes also occurred in Greece, as well as a dispute between officials in the euro zone added to concerns. International lenders disagree on how to address the crisis in Greece. The IMF called on European countries describe how the Greek debt they hold.

This makes the euro fell to USD1.2836 per euro, the lowest level in two weeks. In the United States (U.S.), the economy is projected to get worse in the third quarter.

Slowing global growth is likely to interfere with corporate profits. Caterpillar Inc. cut its earnings forecast for 2015. Likewise with FedEx Corp. and Norfolk Southern, the two companies is an indicator of the economy because their logistics roles.

In late trading Wednesday in New York, the Dow Jones closed down 44.04 points, or 0.33 percent, to 13413.51. The Standard & Poor’s dropped 8.27 points, or 0.57 percent, to 1433.32. The Nasdaq Composite Index. fell 24.03 points, or 0.77 percent, to 3093.70.