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Mining pulls at FTSE once again
In London, stocks are slipping towards the close of business, as natural resource stocks are bringing down the index.
Disappointing manufacturing figures from China confirmed fears that the Asian giant is cooling off.
The South African rand managed to claw back the ground it lost yesterday, but a sense of fear is still hanging over the currency. We might be in the middle of a ceasefire but the currency war is far from over.
US markets see predictable sell-off
US equities got off to good start considering the sell-off last night on the back of the tapering. Even though the $10 billion taper was predicted the market still sold off, as it is a sign that the gravy train is coming to coming to an end. They later took a dive following abysmal pending home sale figures.
Facebook is in top form as the social media giant smashed expectations after the closing bell last night.
Strengthened dollar hits gold
The US dollar is in demand after the Fed trimmed its stimulus package for a second month in a row.
Gold has consequently taken a tumble as the strengthened US dollar takes the shine off the precious metal.