Bubble or not, Bitcoin, meanwhile, is still sharply higher, albeit off its record levels. It is up 8.7% at $12,696, down from the peak of 12,815 recorded earlier.
And on that note it’s time to close for the day. Thanks for all your comments, and we’ll be back tomorrow
Uncertainty upsets markets
It has been a nervous day for investors in equities, with markets unsettled by a range of factors, including the latest Brexit confusion, concerns about the US tax reforms and the country’s debt ceiling and next week’s expected interest rise from the Federal Reserve. But European markets ended off their worst levels, with the final scores showing:
- The FTSE 100 finished up 20.53 points or 0.28% at 7348.03
- Germany’s Dax dropped 0.38% to 12,998.85
- France’s Cac closed down just 0.02% at 5374.35
- Italy’s FTSE MIB fell 0.49% to 22,307.28
- Spain’s Ibex ended down 0.27% at 10,184.0
- In Greece, the Athens market dipped 0.4% to 727.53
On Wall Street, the Dow Jones Industrial Average is currently down 29 points or 0.12%.
Oil price falls after rising US crude production
US crude oil stocks fell by more than expected last week but after an initial rise, prices fell back again as investors focused on rising production figures.
Crude inventories dropped by 5.6m barrels, more than the forecast 3.4m decline. But gasoline stocks rose by a much larger than expected 6.8m barrels, rather than the 1.7m rise which had been forecast.
And crude production continued to rise, up 25,000 barrels a day and hitting a new weekly record. John Kilduff at Again Capital told Reuters:
Demand for gasoline is curiously weak. And these weeks towards the end of the shopping period normally rival the summertime. So the report overall was bearish.
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