Stocks collided with the growing sentiment in Europe, permeated by fears that Italy will sink and the U.S will continue to disappoint. The better-than-average data coming from Spain this morning helped alleviate fears that the euro would not be able to suffer two blows – Italian stalemate and Spanish descent into despair – simultaneously.

Gold stabilised on Monday following three consequent weeks of decline as hunger for high-risk assets declined. Gold is down over five per cent thus far in 2013, overstretched by observations that higher-yielding commodities might give a better ROI as economic figures are steadily improving globally.

The euro reached new lows against the USD following a survey released by Sentix which indicated that eurozone confidence dropped in March for the first time in half a year, spurred by worries over political insecurity after hotly contested elections in Italy which are yet to be concluded.