Top Scoops

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

 

US Share Markets Shed Another 2%

US Share Markets continued their recent run of falls overnight with the market closing on the blue chip Dow Jones index down 2.4% at a new 52 week low, and on the technology rich Nasdaq index down 1.46% at a new two year low.

This morning’s falls followed falls of 2.4% on the Dow Jones and 5% on the Nasdaq yesterday. The falls yesterday were sparked by a Federal Reserve Open Market Committee decision to reduce the Federal Funds interest rate by 0.5% when the markets had wanted a rate cut of 0.75% or more.

The blue chip Dow Jones index closed this morning NZT on 9487.00 points down 233.76 or 2.40% for the day.
(GRAPH LINK: http://quote.yahoo.com/q?s=^DJI&d=5d)

The technology Nasdaq index closed on 1830.24 points down 27.20 or 1.46%.
(GRAPH LINK: http://quote.yahoo.com/q?s=^IXIC&d=5d)

The broader S&P 500 index closed on 1122.14 points down 20.48 or 1.79%.
(GRAPH LINK: http://quote.yahoo.com/q?s=^SPC&d=5d)

Yesterday’s falls in New York were followed by falls in many Asian markets and in all European Bourses overnight.

Japan’s ailing stock market was the notable exception rallying 913 points (7.5%) on the back of a decision by the Bank of Japan to lower interest rates to zero.

Japan’s strong performance led to a bounce back in Hong Kong which had been trading down around 3% for most of the day but which closed at the end of the day down just 0.5%.

European markets performed far worse, German’s DAX closed down 2.77%, France’s CAC down 2.23%, and the UK’s FTSE down 1.88%.

In early trading at 9.30am(NZT) the NZSE40 index is down 7 points or 0.3% on 2082 points.

To view live updates of the state of Asian and European share markets as they open today see…
GRAPH LINK: http://quote.yahoo.com/m2

© Scoop Media

 
 
 
Top Scoops Headlines

 

Commercial Scoop User? Help Scoop Survive (and Thrive!)

The ScoopPro licensing terms require that commercial users of Scoop.co.nz pay a reasonable fee in order to access the Scoop site so that this same information remains free and accessible to the wider public regardless of their disposable income. More>>

Joseph Cederwall: Building a Community Newsroom

A combination of new technology, ideas, institutions and business models and a renewed energy and commitment by the Scoop team, means Scoop aims to be at the forefront of the development of this renaissance that we term ‘News 3.0’. More>>

ALSO:

Scoop 3.0: Saving The News

Scoop Co-Founder Alastair Thompson - One of the saddest aspects of the decline of the news industry, not just here in NZ - but everywhere, is that it often seems invisible, in large part because news is a confidence business... More>>

ALSO:

UK Cabinet Backs Deal: Gordon Campbell On The Latest Roll Of The Brexit Dice

Brexit has left the British public looking like a nation of Wellington bus commuters. In both cases, the unholy mess bears no resemblance to what people were promised or the spin being used to justify it. More>>

Gordon Campbell: On The Democratic Leadership And Trump

On the big picture, the poll predictions were dead right. In the end, the Democratic Party won a clear victory in the House, and lost as expected in the Senate, where it had been defending at least 10 seats in regions that had voted heavily for Trump in 2016. More>>

ALSO: