World stocks down, NYSE closes trading floor
BANGKOK (AP) — World stock markets fell Monday as a mammoth storm heading toward the eastern U.S. caused the New York Stock Exchange and CME Group to shut trading floors.
Stocks ran out of momentum as traders refrained from bold moves amid global growth woes, while Hurricane Sandy — expected to join up with two other weather systems to combine into a superstorm by Tuesday — brought the potential for havoc as it bore down on major eastern U.S. cities such as New York and Washington. CME, which operates the New York Mercantile Exchange, and NYSE said they would shut their New York trading floors Monday but electronic trading would continue.
Britain’s FTSE 100 fell 0.3 percent to 5,786.24. Germany’s DAX lost 0.4 percent to 7,200.70. France’s CAC-40 shed 0.8 percent to 3,407.32.
Stan Shamu, market strategist at IG Markets in Melbourne, said in an email commentary that he expects lackluster trading this week, “until the US election process has run its course and the investing world has a clearer picture as to who will be leading the US.”