Morning Call by Traders University

Yesterday the FTSE 100 closed down 111 to close at 4,234. Stock indexes fell by more than 2 percent yesterday, sending the after the World Bank estimated the global economy will shrink 2.9 percent in 2009. It had previously predicted a 1.7 percent contraction. Hopes of recovery receded. The Dow fell 200.72 (2.4%) to 8,339.01, its lowest finish since May 27. It was the biggest drop for the blue chips. The Standard & Poor’s 500 index fell 28.19 (3.1%) to 893.04, also leaving the index with its biggest slide since April 20 and erasing its advance for the year. Forex news: Economic indicators gear up today with many European PMI figures but the American Existing Home Sales is the high news for the day at 3pm. After a strong start for the dollar, tension rises towards Wednesday’s FOMC Statement. The escalation in Iran also supports the greenback.