The sell-off that has engulfed global stock markets early in 2016 intensified Wednesday, with oil breaking below $28 a barrel for the first time since 2003, the Dow plunging almost 300 points at the open, Japanese stocks skidding into bear market territory and European shares shedding 3%.
US banks reported this month stronger-than-expected revenues and much better profits for the fourth quarter of 2015, showing that pro-longed cost-cutting efforts have left them resilient earners.
Oil extended its decline from the lowest close in more than 12 years before weekly U.S. government data forecast to show crude stockpiles expanded, exacerbating a global glut.
Next Trading Day's Important Events
- 15:45 (GMT 3) ECB Interest Rate Decision
- 16:30 (GMT 3) ECB Monetary policy statement and press conference
- USDJPY: 116.54
- EURUSD: 1.0909
- S&P 500: 1,844.40
- NASDAQ : 4,382.8