The FTSEurofirst 300 index of shares fell 1.6 percent to 1,036.07 points. The Dow Jones industrial average dropped 213.27 points, to end at 10,389.88. The Standard & Poor’s 500 Index fell  21.56 points, at 1,116.48. The Nasdaq Composite Index fell 25.55 points, to 2,265.70. The Nikkei 225 dropped 277.86 points to 10,590.55. The Topix fell 1.6 % to 940.94.

According to the World Gold Council, in 2009 Gold appreciated by 25 per cent price this was driven by investors running to take cover from the prospect of rising inflation. According to figures, hedge funds had their greatest performance in a decade and their best rebound since records began. Analyst expectations were outpaced by the rate of recovery. In 2009 83 % of all funds posted positive performance, recouping losses that were incurred in 2008.

Due for release is the GBP Retail Sales and the CAD Core Retail Sales m/m.

By Greg Secker