Global markets slipped lower overnight ahead of the US Federal Reserve’s decision and a German constitutional court ruling on whether Germany may contribute to the euro zone’s rescue fund.
European shares ended lower ahead of the Dutch elections on Wednesday and the German Constitutional Court meeting with the troika of international lenders to discuss the legality of the permanent eurozone bailout fund
In London the UK’s FTSE 100 gave up two points to settle at 5793, whilst the French CAC (-0.4%) and German DAX (flat) were mixed.
Stateside, the Dow Jones shed 52 points (-0.4%) to settle at 13254, whilst the S&P (-0.6%) and NASDAQ (-1%) suffered heavier declines.
The euro fell for the first time in four days versus the US dollar as investors expressed scepticism that the region’s debt crisis is being contained.
Oil was little changed in New York as traders waited to see whether the Federal Reserve will announce measures to revive the economy this week.
Oil for October delivery rose 12 cents to settle at $96.54 a barrel on the NYMEX. The range for the past 10 sessions has been $93.95 to $97.71. Prices are down 2.3% this year.
Today’s session will bring us data in the form of NAB business confidence, at 11:30am, AEST.