By IFCMarkets

US stock market ended mostly lower on Monday led by energy stocks as president Trump announced new, ‘hard-hitting’ sanctions on Iran. The S&P 500 slipped 0.2% to 2945.35. Dow Jones industrial however added 0.03% to 26727.54. The Nasdaq composite slid 0.3% to 8005.70. The dollar weakening slowed: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.2% to 96.00 and is lower currently. Futures on US stock indices point to lower openings today.

European stocks pullback continued on Monday . GBP/USD turned lower while EUR/USD continued climbing with both pairs higher currently. The Stoxx Europe 600 index slid 0.3% led by auto shares as Daimler lost 4% after 2019 earnings outlook downgrade. The DAX 30 fell 0.5% to 12274.57 after the Ifo Institute for Economic Research on reported German business sentiment fell to its lowest level since November 2014. France’s CAC 40 edged down 0.1% and UK’s FTSE 100 slipped 0.1% to 7416.69.

Asian stock indices are mostly falling today despite news US Trade Representative Robert Lighthizer and China’s Vice Premier Liu He talked Monday by phone. Nikkei closed 0.4% lower at 21193.81 with yen resuming its climb against the dollar. Markets in China are retreating: the Shanghai Composite Index is down 0.9% and Hong Kong’s Hang Seng Index is 1.3% lower. Australia’s All Ordinaries Index pulled back 0.1% as Australian dollar resumed sliding against the greenback.

Brent futures prices are extending losses today with Middle East tension providing support. Prices fell yesterday: August Brent crude lost 0.5% to $65.20 a barrel on Monday.

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