http://finance.yahoo.com/news/asian-stocks-fall-further-global-sell-off-063511803--finance.html
NEW YORK (AP) — A sell-off in U.S. stocks is accelerating as major indexes around the world fall sharply for a second day on growing evidence that China's economy is slowing. The new bout of global selling followed news of a survey showing manufacturers on the mainland continue to contract. Investors are also worried about more turmoil in Greece after the resignation of its prime minister.
KEEPING SCORE: The Dow Jones industrial average fell 284 points, or 1.7 percent, to 16,706 as of 11:11 a.m. Eastern time. The Standard & Poor's 500 index dropped 35 points, also 1.7 percent, to 2,000. The Nasdaq skidded 104 points, or 2.1 percent, to 4,773.
TECH CORRECTION?: The Nasdaq is now about 8 percent off its recent high of 5,218.86 on July 20. That puts it within shooting range of what traders call a "correction," or a fall from a high of more 10 percent.
BROAD DROP: All 10 sectors of the S&P 500 fell, led by a 1.9 drop in information technology shares.
CHINA JITTERS: In China, a preliminary version of a gauge of business activity, the Caixin purchasing managers' index, fell to an unexpectedly low 47.1 points. Numbers below 50 show a contraction.
The devaluation of the yuan last week has shaken confidence in the world's No. 2 economy. The Shanghai Composite index suffered another steep drop of 4.3 percent on Friday.
THE QUOTE: "China has been on a mission to keep up the illusion of a gradual slowdown, but dealers aren't buying it anymore," said David Madden, market analyst at IG.
OH, DEERE: Deere & Co. fell $6.09, or nearly 7 percent, to $84.56 after it cut its full-year outlook. It said it expects weakness in the agriculture and energy sectors to continue to hurt its equipment sales.
EUROPE DOWN: In Europe, France's CAC-40 declined 2.2 percent while Germany's DAX fell 1.9 percent. In Britain, the FTSE 100 index was down 2.1 percent.
GREECE BACK, TOO: Greece looks headed for another election on Sept. 20 provided opposition parties can't form a new government. Prime Minister Alexis Tsipras is hoping to capitalize on his personal popularity in the election as he seeks a new mandate to govern. The country earlier this week got its hands on the first tranche of cash from its third international bailout.
ANALYST TAKE: "While the decision to have a new vote is likely to increase political uncertainty in the short term .... the hope is that the more dysfunctional members of his government will get pushed to the sidelines," said Michael Hewson, chief market analyst at CMC Markets.
ASIA'S DAY: Tokyo's Nikkei 225 was off 3 percent, Seoul's Kospi shed 2 percent and Hong Kong's Hang Seng fell 1.5 percent.
ENERGY: A slowdown in China has the potential to significantly crimp demand for oil. The benchmark U.S. crude fell 95 cents to $40.37 per barrel on the New York Mercantile Exchange. It has now been in decline for eight consecutive weeks, the longest streak since 1986. Brent crude, which is used to price international oils, shed $1.26 cents to $45.35 in London.
CURRENCY: The euro rose 0.4 percent to $1.1326. The dollar was also 0.6 percent lower at 122.35 yen.
Originally posted by KazetNagorraYes there would. If there was an answer the day before, then no, there wouldn't be crashes (or at least they would happen the day before 🙂 )
If there was an answer to that question other than "who knows?" there wouldn't be any crashes.
In fact, there are crashes precisely because enough people answer 'yes this is the crash'.
Originally posted by twhiteheadWell we can recognise a crash when it happens but then we seem to have difficulty remembering that it ever happened. Ask any neoliberal about the 2008 crash and they deny it ever took place. Economists said it could not happen, then briefly noticed that it was happening and demanded that governments rescue them with public money, then acted as though it maybe had not happened after all, and the problem was all that public money that got spent, and now are acting as though slashing and burning public spending will magically prevent the banks from another collapse.
Yes there would. If there was an answer the day before, then no, there wouldn't be crashes (or at least they would happen the day before 🙂 )
In fact, there are crashes precisely because enough people answer 'yes this is the crash'.
Originally posted by finneganIt's all Reagans fault! 😠
Well we can recognise a crash when it happens but then we seem to have difficulty remembering that it ever happened. Ask any neoliberal about the 2008 crash and they deny it ever took place. Economists said it could not happen, then briefly noticed that it was happening and demanded that governments rescue them with public money, then acted as though it m ...[text shortened]... ugh slashing and burning public spending will magically prevent the banks from another collapse.
Originally posted by whodeyThe short answer is "NO" The DJIA has been on a steady rise for the last 5 years, there is going to be a few bumps along the way. You want to see a real crash? Remember when the markets were losing 700-900 pts. a day under "W"? THAT's a crash.
http://finance.yahoo.com/news/asian-stocks-fall-further-global-sell-off-063511803--finance.html
NEW YORK (AP) — A sell-off in U.S. stocks is accelerating as major indexes around the world fall sharply for a second day on growing evidence that China's economy is slowing. The new bout of global selling followed news of a survey showing manufacturers on the m ...[text shortened]... ENCY: The euro rose 0.4 percent to $1.1326. The dollar was also 0.6 percent lower at 122.35 yen.
Originally posted by bill718If it does crash, it should propel Trump into the White House.
The short answer is "NO" The DJIA has been on a steady rise for the last 5 years, there is going to be a few bumps along the way. You want to see a real crash? Remember when the markets were losing 700-900 pts. a day under "W"? THAT's a crash.
Just say'in.
Originally posted by EladarI think Obama has done a decent job with the economy, not great, but decent. As far as blaming the economy on "W", I think we're a few years past that. As far as a crash goes, I very much doubt it. The last few major economic hurdles are the long term unemployed, and the national debt, even these are showing signs of improvement. those betting on a crash may be disappointed.
Does it matter? It is all fault if anything bad happens. Obama is doing everything possible to fix it, but just look at what Bush left him.
(Yes, that was sarcasm for those morons who didn't already know)
Originally posted by bill718Record levels of non participation and signs of recovery. Similar economic numbers under a Republican and you sing a different tune.
I think Obama has done a decent job with the economy, not great, but decent. As far as blaming the economy on "W", I think we're a few years past that. As far as a crash goes, I very much doubt it. The last few major economic hurdles are the long term unemployed, and the national debt, even these are showing signs of improvement. those betting on a crash may be disappointed.
Originally posted by EladarIMO the effect a President has on the US economy is exaggerated; however this article shows that the economy under Obama has outperformed the economy under Reagan.http://www.forbes.com/sites/adamhartung/2014/09/05/obama-outperforms-reagan-on-jobs-growth-and-investing/
Record levels of non participation and signs of recovery. Similar economic numbers under a Republican and you sing a different tune.
Originally posted by no1marauderIsn't it obvious that the US economy is doing so much better now than during the late 80's and early 90's.
IMO the effect a President has on the US economy is exaggerated; however this article shows that the economy under Obama has outperformed the economy under Reagan.http://www.forbes.com/sites/adamhartung/2014/09/05/obama-outperforms-reagan-on-jobs-growth-and-investing/
(Once again sarcasm just in case you are an idiot and can't see it for yourself)
Originally posted by EladarI guess reading the article was too hard for you. Like most right wingers, you don't take account of facts which contradict your pre-existing ideological beliefs and dogmas.
Isn't it obvious that the US economy is doing so much better now than during the late 80's and early 90's.
(Once again sarcasm just in case you are an idiot and can't see it for yourself)
