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Wall Street off to a nervous start

FXStreet (Mumbai) - The Wall Street got off to a nervous start on Wednesday as investors worried about China and EM economic slowdown turned a blind eye towards uptick in the European markets.

The major index futures were in red in the early European session, before moving back to positive territory ahead of the US opening bell. However, closer to opening bell, the investors began focusing on China and EM concerns, leading to a flat to positive action.

At the time of writing, the DJAI was trading 3 points higher. The S&P 500 and the Nasdaq were up 1 point and 4 points respectively. The pan-European still trades 0.7% higher, although the index was up more 1% point earlier today.

The China Caixin Manufacturing index for September fell to 47, from the August level of 47.3, putting it at a 78-month low. South Africa slashes growth estimate in a fresh sign of an emerging market slump.

Will adjust QE program as appropriate if necessary – ECB’s Draghi

The European Central Bank (ECB) President Mario Draghi, in his introductory remark at the Econ hearing, reiterated that the bank stands ready to alter the size, duration or composition of its current QE program if necessary.
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United States Markit Manufacturing PMI meets expectations (53) in September

United States Markit Manufacturing PMI meets expectations (53) in September
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