- Equities lose momentum, Commodities take a hit: Equities have lost momentum, but the selling is not as frantic as yesterday. Ahead of Easter holidays, most traders look to hedge their portfolios, so trading is thinning. US and German debt is in demand, which sees their yields fall
- Stocks: FTSE All World is down 0.3%, and FTSE Eurofirst is down 0.8%; In Asia, FTSE Asia Pacific has lost only 0.2%, despite its much higher Beta, while Tokyo slumped 0.5%; S&P 500 is expected to be down 0.7% at open; FTSE 100 is down almost 2% over Wednesday and today
- Currencies: Dollar index gains 0.4% as Euro and Yen are down 0.6% against Dollar and Sterling has lost 0.4% against dollar
- Debt: US 10-years fall to 2.17%; 10-year Bunds at 1.79%; 10-year Gilts are at 2.20%
- Commodities: Brent Crude falls to $124.28/barrel; Copper loses 0.3% to $3.78/pound; Gold falls $54 over two days to $1621/ounce
- Yahoo! to cut 2000 jobs: Yahoo! has unveiled the most drastic job cuts in its history and will soon cut 14% of its workforce. Yahoo’s revenues have barely seen a change since 2006; these cuts are being described as means to make Yahoo! ‘nimbler, smaller and more profitable’. Yahoo! will now look to narrow its focus to core media and communications.