But while there was no official headline to prompt the selling, the reason for the move appears to be a report in the Journal according to which two of China's most valuable U.S.-listed mega-cap companies "are pushing ahead with multibillion-dollar share sales in Hong Kong, amid growing pressure from U.S. lawmakers on Chinese companies to disclose their financial information or delist."
The listing plans of NetEase Inc., an online games company, and JD.com Inc., the operator of an e-commerce website, will be reviewed on Thursday by the listing committee of the Hong Kong Stock Exchange, people familiar with the situation told the Wall Street Journal.
The EURUSD pair was very volatile today as well as it jumped above the 1.10 threshold to test the 200-day moving average only to drop back to unchanged and trade at around 1.0980.
Gold and silver were also lower, along with oil, which seems to be breaking down from the recent consolidation period. If that happens, we can see a quick drop below the critical 30 USD threshold, which could lead to a retest of the 25 USD barrier.