SCOREBOARD: European scepticism

European markets were hit by Ben Bernanke's QE comments, while Wall Street fell modestly despite positive housing and employment data.

In US economic news overnight, new home sales rose by 2.3 per cent in April to a 454,000 annual pace. The median sales price of a new home jumped 14.9 per cent from a year ago. US jobless claims fell by 23,000 to 340,000 last week, while US Markit flash manufacturing fell from 53.2 to 52.2 in May.

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