A disappointing data on U.S. economy dominant services sector brought hesitation among investors on Wall Street at the beginning of today’s session. The indexes changed direction several times to move, which contribute to raising interest rates in China, which surprised financial markets. Hour and a half after the start of trade price-weighted Dow Jones IA index added 0.1 percent to 12,419 points, while the broad S & P 500 also rose by 0.1 percent to 1335 points. The index of companies by the exchange Nasdaq – Nasdaq Composite, moved more tangible by 0,4 percent to 2799 points, led by the good performance of technology companies. The reluctance of investors came after news of another reduction in the rating of government securities of Portugal. The first U.S. economic data this week showed that the services sector, which is leading the U.S. economy has lost momentum in March. This index showed business activity in the sector, which fell unexpectedly to 57.3 compared to 59.7 points in February. Market expectations had its value to rise slightly to 59.8 points. The services sector growth marks, when the indicator passes the level of 50 points. The session ended on Monday with minor changes of indices in the absence of data on the U.S. economy.
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News of the investigation against Goldman Sachs, who is suspected of large-scale fraud mortgage securities caused a wave of sales of U.S. and European markets on Friday, which spilled over in Asia today. The Best Mortgages dropped the good results of Asian indexes. The reduced risk appetite of investors not only lower stock prices, but those of raw materials, while the rate rose strongly in the dollar against all major currencies. Analysts said the charges against the investment bank Goldman Sachs will severely undermine the already fragile confidence in financial markets and could lead many investors to leave them. The strong decrease of the Asian indexes today also contribute to the news that the Chinese government continues to restrict investment in real estate. Regional stock measure MSCI Asia Pacific, which oversees securities markets in ten Asian countries plus Australia and New Zealand sank by as much as 2.1 percent to 125.62 points. Today’s decline was its strongest over the past two months. On Friday, Asian markets retreated sharply from its 20-month peak for sales in the residential construction sector and the stock exchanges in Shanghai and Hong Kong.
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