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This is -- Imus in the morning and we're.
On the Fox Business Network.
Good morning everyone welcome to the final trading day of the month and a quarter.
Let's take a look at the markets now here in the US and fortunately we're down across the board Dow futures right now down by 119 the S and -- down by about fourteen.
And the nasdaq's down by almost money.
-- -- over in Europe we're also seeing red across the board London's FTSE is on pace to finish the quarter down more than 14%.
Right now it's down 84 points Paris is down sixty and Frankfurt's down 161.
Now with more on what's moving those markets let's go over to David Jones chief market strategist at IG market.
David how is the manufacturing survey in China playing including.
Markets here and if it's definitely weighing on sentiment was so your opinion markets a little bit soft siesta that the right thing that Chinese manufacturing sites are still -- Adam and a contraction.
-- the expansion that we were saying may be -- -- I think because.
So many -- western economies have really struggled in recent months.
There has been China -- plenty of people.
Have been pinning hopes on.
To really get things -- -- something to the sign that once again we -- slowdown in China.
Hasn't really held sentiment until tonight in Europe.
And David it's the final trading day of the quarter how do you -- sum up what we've seen in the past month.
That that oldest in particular you know it was was an incredibly volatile month something that moves that we've so and the tonight beginning of focus for many people as a signal that that the recovery that we had in stock markets.
Is well and truly when treaty article I think we've seen the worst quarter in London for rule -- three years in terms of -- performance.
And -- -- difficult to say where we get a say on so many uplift to show as an initial time and place and we've got over in Europe about the concerns that about that because the Greek.
Problem still rumbling on still no definite.
Fix to that yet we have that the problem of that global economy's just sponsoring it really is quite a gloomy outlook today at least the end of the year I think for chess.
Look for better at.
Thank you -- -- And turning out agent for wrap up of the trading day there let's go to -- -- -- -- -- cctv news who's joining me from Beijing.
-- yeah it looks like it down data and a down quarter what's driving these markets.
Absolutely -- actually fusion to volatility and you get Asian markets acting like chickens with their heads cut off.
The numbers -- ran from negative to positive and back again as investors struggle to make that the US economic data.
The latest in the European debt crisis -- and Hong Kong's hang sang it down 2.3 percent to communicate -- create caused it.
Both finish pretty much flat after a lot of running around -- -- high that we had manufacturing data.
They showed the economy is moderating pace of all these global -- went.
The country index ticked down a quarter percent today and I capped off the worst quarter for Asian stock and adapt to 2008.
Financial crisis that.
Before we go I wanna briefly mentioned the end of they will have a fair Chinese companies listed in New York used to be the darlings of the market.
But they've been shunned this here on -- by short dollars.
Now reports of an investigation into their accounting practice -- I'm talking huge companies here that you might -- some of them Baidu China's Google.
You know which runs China Twitter equivalent -- called away bulk and you'll -- dot com -- the -- -- -- China.
Will be keeping a close I haven't story out that developed.
Back to you -- out and.
Alright thanks -- down.
And shifting gears -- Bank of America they're planning to charge debit card users a five dollar monthly fee starting early next year.
Other banks have similar plans in the works that they search for new streams of revenue US banks have been looking for ways to -- revenue after regulations introduced during the financial crisis.
Have limited the use of overdraft and other fees.
Some large US banks would have more money on hand today to deal with market stresses if regulators -- -- bail out repayment criteria.
That's according to the TARP special -- -- inspector general the IG says the report the -- initially told banks they had to raise one dollar in common equity.
For every two dollars in bail -- funds repay the Bank of America Citigroup and Wells Fargo only raised a combined 49 billion in capital.
Instead of the 57 billion required.
PNC financial also left TARP under similar guidelines according to the report only Citigroup that met the initial criteria.
And the Wall Street Journal is reporting that McGraw-Hill is in advanced talks with CME group.
To -- stock market icons discussions over a joint venture between the -- S&P index is business and CME's Dow Jones indexes.
Started more than a year ago and might still fall apart.
If the deal is finalized the venture will be managed by McGraw-Hill.
And News Corp.
parent of Fox Business Network is a minority owner of C -- -- Dow Jones index business.
And would have a small stake in any joint venture with S&P.
Here's a look at commodities now oil and gold -- mixed Imus in the morning continues right now on Fox Business.
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