gnutrade.satya
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This week market started low, remaining the same throughout the days concerns grew about global recession not ending soon.
Heino Ruland, strategist at Ruland Research, said: "The market has been losing momentum in the past 10 days and is lacking any leadership from a sectoral standpoint. Companies are still not seeing a recovery in a demand ... It is a transition from a strong rally which we have seen since March to a consolidation or fall back to more appropriate levels as markets went too fast too far."
The FTSE 100 index was down 2.4 percent, Germany's DAX was 3.5 percent lower and France's CAC 40 was down 3.2 percent.
Heino Ruland, strategist at Ruland Research, said: "The market has been losing momentum in the past 10 days and is lacking any leadership from a sectoral standpoint. Companies are still not seeing a recovery in a demand ... It is a transition from a strong rally which we have seen since March to a consolidation or fall back to more appropriate levels as markets went too fast too far."
The FTSE 100 index was down 2.4 percent, Germany's DAX was 3.5 percent lower and France's CAC 40 was down 3.2 percent.