General Market News – European Session

General Market News –  European Session

The odds of Federal Reserve raising interest rates in its December meeting rose to 66 percent as Fed officials stressed that policy should be tightened gradually after the raise in order to shift investor’s focus. Commodity shares tumbled and pressured energy and raw-materials providers driving U.S. stocks to fall the most in six weeks, while the U.S. equity benchmark struggled to hold gains. Standard & Poor’s 500 Index dived further falling by 1.4 percent slipping below its average price during the past 200 days for the first time in two weeks. Asian stocks mirrored the bearish movement of U.S. shares as energy and material shares slid amid a renewed selloff in commodities, with the regional benchmark heading for a third weekly decline. The plunging of commodity prices and the fact that the nation’s broadest measure of new credit slumped, affected Chinese stocks and lead them to fall the most in six weeks in Hong Kong trading. The credit growth data rounds out a week of mixed readings underscoring the government’s challenge to kick start growth in an economy weighed by overcapacity and debt........