Fear of falling

24 August 2010 By Ian Campbell

Japan’s Nikkei index has touched a 15month low a bearish signal for global equities. Falling oil and a rising dollar are other signs of growing risk aversion. Stocks that have risen far on expectations of a smooth recovery could be about to retreat sharply.

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Japan's benchmark Nikkei N225 index fell by 1.3 percent on Aug. 24 to close at 8,995, its lowest closing level since May 2009. European stocks fell in early trading on Aug. 24 to fiveweek lows.

U.S. crude oil prices fell towards $72 a barrel for what would be their fifth consecutive day of falls. Prices are at sevenweek lows as traders fear global growth is slowing.

Data on U.S. existing home sales will be released by the National Association of Realtors on Aug. 24. Wall Street is expecting sales of 4.7 million homes, according to Thomson Reuters data, which would be the lowest monthly level since March 2009.

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