Stocks continue to decline on Euro zone concerns $EURUSD

  • US stocks fell, halting a two day advance whilst Treasuries and the Dollar rose amid concern that European officials were failing to make progress in taming the debt crisis
  • Banks led declines in US stocks amid concern about tighter capital requirements under proposed international standards. All 24 stocks in the KBW Banking Index suffered declines
    • DOW –0.84%, S&P500 –1.17% and NASDAQ -1.26%
  • The Euro fell and is currently trading at 1.2995 as the US climbed against 13 of 16 of its major peers
  • The Korean Won fell to a two month low and the Kospi Index declined 3.4 percent after North Korean leader Kim Jong Il died
  • Ten Year Treasury yields fell four basis points to 1.81 percent
  • Oil rose on concern that geopolitical tension will increase as a son of Kim Jong Il took power Korea and the U.S and its allies discuss tougher sanctions on Iran. The futures are $0.55 trading at $94.08
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