European indexes fell ahead of ECB meeting
Major European indexes (DBEU) continued to fall on June 1, 2016, as the weak Chinese PMI (purchasing managers’ index) and the European Central Bank meeting on June 2 continued to weigh on investors. The weakness can also be attributed to the resurfacing of Brexit worries.
Specifically, the SPDR EURO STOXX 50 ETF (FEZ) fell by 0.81% . The German DAX and the French CAC 40 fell by 0.57% and 0.67%, respectively.
Among the US broad-based indexes, the S&P 500 VIX Index rose by 1.3% on June 1. The S&P 500 Index and the NASDAQ Composite Index were flat. The Dow Jones Industrial Average also remained unchanged.
In the next part of this series, we’ll discuss why the euro and the Japanese yen rose and how their rise affected the US Dollar Index.