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Winnow
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Markets

Post by Winnow »

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Friday the Dow dropped 535 points.

I'm looking at futures right now and they show the Dow down 456 points for Monday. That's nuts. That's similar to after 911 crisis nuts.

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World markets getting spanked overnight.

There's time before the market opens for the futures to ease up but it's been a nasty few days and Monday so far is shaping up to be ugly. Hope not. Market correction is due, but not 500 point plunges a day.

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Winnow
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Re: Markets

Post by Winnow »

Asian markets suffered major losses on Monday, extending a sell off that has touched nearly every corner of the globe.

The benchmark Shanghai Composite opened dramatically lower, shedding 8.5% in early trading and wiping out all gains made this year. Many companies listed in Shanghai, including some large state-owned firms, fell by the maximum daily limit of 10% within the first hour of trading.

The smaller Shenzhen Composite also declined more than 7.5%.

In Japan, the Nikkei was 3.2% lower in early trading, and Australia's ASX All Ordinaries was down 3.6%. Seoul's KOSPI Composite lost 2.5%. Asian currencies were trading lower against the U.S. dollar.

Three factors continue to weigh on markets:

1. Concerns that China's economy is slowing faster than analysts had anticipated.

2. Uncertainty over when the U.S. Federal Reserve will raise its benchmark interest rate.

3. The effect of exceedingly cheap oil -- crude is now trading near $40, its lowest point in more than six years.
If Dow does open 400 points lower Monday, that will be the lowest since Feb 2014.

18 months gone in two weeks. Futures -506 as I go to bed.

Guess no need for the Fed to raise interest rates in September.

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Aslanna
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Re: Markets

Post by Aslanna »

Thanks, Nixon.
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Winnow
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Re: Markets

Post by Winnow »

-703 before open

edit: -852 wow

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Re: Markets

Post by Aslanna »

Probably a good day to pick up bargains.. If I knew anything about that stuff. And my job wasn't ending in 6 months.
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Re: Markets

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Aslanna wrote:Probably a good day to pick up bargains.. If I knew anything about that stuff. And my job wasn't ending in 6 months.
Not a good time (yet). Craziness on markets. Was down over 1000 near the open, since then it's been up and down hundreds of point swings. I'd wait for a little stabilization.

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Re: Markets

Post by Aslanna »

You gotta strike while the iron is hot!
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Re: Markets

Post by Winnow »

Aslanna wrote:You gotta strike while the iron is hot!
yeah but this may dive another few thousand points. Bargain hunting not great so far. Trying to "catch a falling knife" not good!

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