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China released its GDP figures for the third quarter of 2018, which indicated a slowdown in economic growth of 6.5% over 12 months.
According to analysts polled by Reuters, the latest announcement of GDP by the world's second-largest economy did not reach the expected 6.6% from July to September over the quarter compared with the previous year. This is the slowest pace since the first quarter of 2009. "
"The conjunction of a slowdown in global economic growth, ongoing geopolitical / trade concerns between China and the United States and an increased likelihood that the FOMC is raising the funds rate further than this that is currently discounted (75 basis points over the next 12 months) weighs on investment sentiment, "Elias Haddad, currency strategist of the Commonwealth Bank of Australia, said in a morning note referring to the Federal Open Market Committee.
Overnight, on Wall Street, stocks fell sharply and continued to post generally mediocre performance for the month of October. The Dow Jones Industrial Average fell 327.23 points to 25,379.45, while the S & P 500 fell 1.4% to 2,768.78 and the Nasdaq Composite lost 2, 1% to close at 7,485.14.
The CBOE volatility index (VIX), widely regarded as the best indicator of fear in the market, jumped 15.29% to 20.06 on Thursday. Last week, the index had its highest level since February. The VIX measures the implied volatility of the options in the S & P 500 Index.
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