World markets record decline

Global markets reversed Monday’s gains with the attention clearly moving back to the US Treasury plans regarding quantitative easing.

While no specifics have been outlined by the Treasury chairman Ben Bernanke, it is felt that actions underpinning many sectors in the US will be inversely impacted by the easing as the support measures that were in place helped to drive global assets.

European markets all closed down on the day. The latest KBC/ERSI consumer sentiment index rose slightly here to 61.2 from 58.9. Given the small rise it appears that the cut in the interest rate during the month has had very little impact in this area. The Iseq lost 70.73 points to close to 4,035.13.