Markets

Correction on global markets 'not surprising'

Correction on global markets 'not surprising'

After a slight struggle getting past 20,000 the Dow has continued to make new records getting up to 26,500 last month. The S&P 500 slumped 3.8 percent on Thursday, while the Dow dropped 4.2 percent as losses accelerated late in the trading day. Copper lost 1.30% to $7,075.85 a tonne.

Stocks took a huge tumble on Monday, as the Dow plunged nearly 1,175 points, which is the biggest point decline in history during a trading day, Bloomberg reported. It fell 76 cents, or 1.2 percent, to close at $63.39 a barrel in New York Tuesday.

"While volatility in the markets has eased over the last couple of days, it has remained at very high levels-probably a sign of the ongoing nervousness among investors which may leave markets vulnerable to further declines", Craig Erlam, senior market analyst at Oanda said in a note. A 3 percent yield is looked upon by investors as a motive for people to flee the risk of stocks for the relative safety of bonds. He also said 3.05 percent is a key level to watch on the 10-year.

Markets continue to fall during the Great Depression.

"This increased volatility had been one that the market was anticipating at the start of the year, but certainly took its time to arrive and may retain a spot in the market after this week's tumultuous turn".

US market indexes were lower Wednesday.

Overseas markets have mostly calmed down after plunging earlier this week.

U.S. stocks had plunged around 4 per cent on Thursday in another dramatic session, confirming a correction that has thrown the market's almost nine-year bull run off course.

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Akshay Kumar has managed to generate lot of buzz about his upcoming film Padman which is a story of Arunachalam Muruganantham . He says, "We had taken some local actors for the shoot and they had to hold a sanitary pad in their hand for a sequence".

The Dow Jones Industrial Average dropped by 1,032 points on Thursday, or 4.15 percent, closing at 23,860.46. Today, the 10-year bond is about 2.75 percent, not much more than the income an investor could receive from owning an S&P 500 index fund, which sports a dividend yield of about 2 percent.

The technological Nasdaq Composite recorded a decline of 0.9% after stocks of large technology companies retreated. In fact, because Black Monday was a result of trading behavior and not market or economic fundamentals, the S&P 500 index still finished the year with a slight gain.

The Dow recovered some of its early plunge and was down 127 points, or 0.4 percent, at 24,255.

Before Tuesday's rebound, over just a few days the Dow Jones industrials had plummeted 2,271 points or 8.5 percent; the S&P 500 index fell 227 points, or 7.9 percent, and the tech-heavy Nasdaq fell 538 points, or 7.2 percent. Corrections are seen as entirely normal and even helpful in curbing excessive gains during bull markets.

The market's pullback came with concerns about rising bond yields and higher inflation, reinforced by Friday's January U.S.jobs report that prompted worries the Federal Reserve will raise benchmark interest rates at a faster pace than expected this year. Two stocks rose for every one that fell on the New York Stock Exchange.

A 1,000-point drop "is not fun, but it certainly wasn't historic percentagewise", he said. Brent crude, the global standard for oil prices, dropped 15 cents to $65.36 per barrel in London.

In currency trading, the dollar fell to 109.02 yen from 109.54 yen late Tuesday.


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