US markets sank yesterday on a subdued UK bank holiday after US Secretary State John Kerry said the president will hold Syria’s government accountable for using chemical weapons. Investors dumped shares, sending the markets lower on light volume on concerns the US was inching towards possible military action against Syria. The negativity will continue into the UK markets as the FTSE plays catch-up and a negative Asian session overnight.
Crude-oil futures remained higher in Asian trade as investors keep a close eye on the developments in Syria. Gold rose, playing with the 1400 an ounce barrier on weaker US macro numbers and increasing Middle East tension.
The euro was slightly lower in early hour trading against major rivals ahead of German business confidence which is expected to show a slight rise in confidence to the highest level in six months.