Top Scoops

Book Reviews | Gordon Campbell | Scoop News | Wellington Scoop | Community Scoop | Search


NEWSFLASH: US Share Markets Bounce Back Monday

US share markets have bounced back strongly this morning (Monday in the US).

After initially falling 25 points on open the leading Dow Jones Industrial indice has closed on 10583 up 277 points (2.7%).

The Nasdaq too had a rough ride initially falling 92 points before climbing back strongly to close on 3539 up 218 points (6.6%).

The Standard and Poors also rose strongly closing on 1401.4 up 45 points (3.31%).

Overnight European Bourses followed in the wake of the chaos in Asian Markets yesterday and at one stage most leading indices were down around 4%. On close however the losses in Europe had softened a little.

The UK's FTSE100 ended down 2.97%, France's CAC closed down just 0.1%, Frankfurt's DAX closed down 0.4%.

At this stage the markets worst hit in this latest share market "correction" have been the same ones hit between 1997 and 1999 during the Asian Economic Crisis.

In Asia yesterday's losses were huge:
- Japan's market fell 7%
- South Korea's market fell 11.6%
- Hong Kong fell 8.6%
- Malaysia fell 6%
- Singapore fell 8.7%
- Indonesia fell 5%

In Central and Eastern Europe:
- Czechoslovakia's market fell 4.7%
- Greece's market fell 9.2%
- Russia's market fell 8.5%
- Turkey's market fell 6.1%

Some bounceback is expected in these markets today but if the history of 1997, 1998 is any guide the losses will linger longer in these markets than in the stronger Western markets.

© Scoop Media

Top Scoops Headlines


Gordon Campbell: On The Brexit Vote Aftermath

So, what happens next? Normally when a major policy like this gets so crushingly rejected – by 230 votes, when Theresa May had reportedly been hoping for a defeat by “only” 70- 100 votes – the PM would resign and/or a fresh election called. More>>

Gordon Campbell: On Our History Of Selling Out The Kurds

For the past 100 years, the West has sold out the Kurds over and over again. So much so that it came as a surprise yesterday when US National Security advisor John Bolton appeared to walk back the latest act of betrayal... More>>


Gordon Campbell: On The Reactionary Politics Of Fear

What do you call a situation where the state tries to create panic among its own people for party political gain? As practiced by Theresa May and her faction of the Conservative Party, this has become a well-honed form of state terrorism… More>>

Viva Scoop 3.0! Rounding Up 2018 And Looking Ahead

2018 has been quite a year for Scoop. We are so thrilled to have successfully met the funding target for the first stage of the ‘Scoop 3.0’ plan raising $36,000. This means we can now proceed with the planning phase for the delivery of this bold vision for a community-owned, participatory, independent newsroom... More>>


  • PublicAddress
  • Pundit
  • Kiwiblog