Global and European markets are down for the fourth day in a row as news around the Scottish independence referendum loom large. The markets have built in this negative sentiment while awaiting the implementation of further European sanctions on Russia.
“Global and European markets are down today, marking the fourth consecutive drop in the respective markets with much happening on the political front in Scotland and Russia,” said David Krein, Head of Research, NASDAQ OMX Global Indexes.
INDEX MOVES THIS WEEK
- NASDAQ BIOTECHNOLOGY INDEX (NBI) is up 0.65% since Friday’s close. Year-to-date performance for the index is up 20% after being above 20% at the end of February, and down 5% by mid-April. Gilead is up 1.6%, this week.
- PHLX OIL SERVICE SECTOR (OSX) was down 2.06% as of noon Wednesday. The price of oil is currently $91.62 per barrel, down $2 from last week.
- PHLX Gold/Silver Sector (XAU) was down 3.05% as of noon Wednesday. The price of gold is currently $1,247 per ounce, down $19 from last week.
INDEX TO WATCH
- The NASDAQ Global Index is a float adjusted market capitalization-weighted index, and tracks the performance of 98% of the listed market cap in the global equity space. The index currently includes 9,055 securities. The index is down 1.2% this week but up 12.5% year-over-year.