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Volatile markets: Dow drops 500 points then gains it back
09 Febrero 2018, 11:47 | Dolorita Barahona
Markets Right Now: Asian shares tumble, Nikkei drops 7.1 pct
It can also send bond yields higher, which makes it more expensive for individuals, companies and even the USA government to borrow money.
Global financial markets shivered as Wall Street's slumped with Europe's main bourses down around 2 percent while Japan's Nikkei.N225 dived 4.7 percent, its worst fall since November 2016, to four-month lows.
Stocks swung up and down after indexes started the session 2 per cent lower, underscoring a return of volatility to a market that until recently had been known for the absence of such major shifts.
The pan-European FTSEurofirst 300 index rose 2.02 percent and MSCI's gauge of stocks across the globe gained 0.06 percent.
Britain's 10-year yield fell four basis points to 1.521 percent, the biggest fall in nearly five weeks.
The Dow Jones industrial average jumped as much as 510 points. The Dow is on track for its worst weekly percentage drop since the crisis. The market crash that followed wiped out 96 per cent of its value - it was valued at 1.3 billion yen as of 3 pm in Tokyo on Wednesday, according to a Bloomberg report.
Shares tumbled in Asia on Tuesday after a wild day for US markets that resulted in the biggest drop in the Dow Jones industrial average in six and a half years.
Here's one more trick: During times when stocks decline by 5 percent or more, increase the amounts you're regularly investing, and after similar market increases, scale back those amounts.
On its way there, the Dow took several harrowing turns during the day, opening with a plunge of 567 points coincidentally, the exact same amount it wound up gaining at the closing bell.
Signs of trouble ahead would include high inflation, rapidly rising interest rates and runaway property prices.
The Dow Jones industrial average rose as much as 510 points. It was down 872, or 3.4 percent, to 24,651.
And analyst Laith Khalaf, of Hargreaves Lansdown, pointed out that, despite the heavy falls on Wall Street, the benchmark Dow Jones share index is still 20% up on where it stood this time past year. "Central bank tightening needs to be taken seriously all of the time", said Fritz Folts, chief investment strategist at 3EDGE Asset Management, in Boston.
USA crude oil fell 76 cents, or 1.2 percent, to close at $63.39 a barrel in NY.
The Standard & Poor's 500 index was up 12 points, or 0.5 percent, at 2,662.
Analysts cited higher Treasury bond yields as the catalyst for the drop, coupled with the view that the market surged to unsustainably high levels in December and January in the euphoria over U.S. tax reform.
"The main reason for the decline on the US stock market is that the recent figures released by the USA looked pretty strong", said Lu Zhengwei, chief economist at Shanghai-based Industrial Bank.
Monday's market drop coincided with the swearing in of new Federal Reserve Chairman Jerome Powell. Brent crude, which is used to price global oils, shed 73 cents to $66.89 per barrel. Hong Kong's Hang Seng index lost 2.5 percent. The last market correction ended nearly two years ago.
"Interest rates are rising", Hagensen said.
The Bloomberg Dollar Spot Index fell 0.1 percent.
If the S&P 500 declines 7% in any trading day, all trading on the New York Stock Exchange is halted for 15 minutes.
Stocks started to fall in early trading and extended their losses throughout the morning. Energy companies dropped along with oil prices and technology companies also declined. The company also issued a disappointing forecast. The yield on the 10-year note was as low as 2.04 percent as recently as September.
The Dow Jones industrial average fell 233 points, or 0.9 percent, to 25,295. The Nasdaq composite lost 125 points, or 1.8 percent, to 6,926.
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Markets Right Now: Dow falls another 500, then recovers
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