US Mid-Session 9 Feb 16: Banks leading the falls on international markets pushing gold up over US$40/bl

 European shares fell on Monday to the lowest levels in more than two-years. Investor concerns about global growth and the health of the banking sector drove the sell-off. Shares in Deutsche Bank fell 9.5% with the STOXX Europe 600 Banking index down 5.6%. Athens ATG index fell 7.9% to its lowest levels in 25 years on political uncertainty and concerns on the strength of the Greek banking sector. The FTSEurofirst 300 index fell by 3.4%, with the German Dax down by 3.3% while the UK FTSE fell by 2.7%. In London trade shares in BHP Billiton fell by 0.2% and Rio Tinto rose by 1.2%.

 

* US sharemarkets tumbled on Monday as persistent concerns about global growth dominated sentiment. All major 10 S&P sectors were lower with the financial sector losing 3.2%. Goldman Sachs fell 6.5% - its biggest fall in three years. The tech sector was hit hard with the Nasdaq falling to its lowest levels since October 2014. The CBOE volatility index rose 16.5% - its largest rise in a month.  With just over an hour of trade left the Dow Jones was down by almost 375 points or 2.3% with the S&P 500 index down by 2.6% while the Nasdaq lost 145 points or 3.3%.

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