Markets Plummet As Global Stocks Meltdown

Markets Plummet As Global Stocks Meltdown

Markets Plummet As Global Stocks Meltdown

US stock futures pointed to a third day of losses at the opening on Tuesday, deepening a correction to the stock market's long-running rally that saw the biggest intraday fall in history for the Dow Jones Industrial Average on Monday.

European markets have followed the lead given by the USA and the FTSE 100 is now down just 1.2% having traded as much as 2.7% lower early on.

"We're bouncing around here".

He says it's hard to say right now where the stock market is headed.

In the U.S., however, the recent surge in equities has largely been thanks to volatile technology stocks, the kind of risky assets investors are now looking to dump. US crude oil fell 1.2 percent to settle at $63.39 a barrel, while Brent dropped 1.1% to settle at $66.86.

On Monday, the Dow Jones stock market index fell a record 1100 points. The S&P energy index was up over 1 percent, led by Anadarko Petroleum's 5 percent gain and an increase in oil prices.

United States equity markets staged a comeback yesterday after a sharp sell-off, with Asian and European shares following Wall Street higher in today's trading. That came during a 15-minute stretch where the 30-stock index lost 700 points and then gained them back.

The broader S&P 500 closed down 113.19 points, or 4.10 percent, at 2,648.94, while the tech-heavy Nasdaq Composite Index shed 273.42 points, or 3.78 percent, to close at an about one-month low of 6,967.53.

Declining issues outnumbered advancing ones on the NYSE by a 8.64-to-1 ratio; on Nasdaq, a 6.92-to-1 ratio favored decliners.

During the worst day of the financial crisis in 2008, the market dropped by 800 points. "There would be no need to panic when we start to see swings in the market like we have been", said Corpina.

The indices began to lose momentum in the afternoon, shortly after the 10-year government bond yield rose.

The original trigger for the equities sell-off was a sharp rise in U. S. wages increasing at the fastest pace since 2009. Friday saw losses of 666 points after reports of rising interest rates.

"The market is probably trying to find a bottom", said Bill Lynch, director of investment at Hinsdale Associates.

The index of 30 big-name USA companies ended up at 24,912.

Wholesale gasoline lost 4 cents to $1.81 a gallon.

Often referred to as the Dow, the Dow Jones Industrial Average or DJIA, is the oldest and most watched indices in the world, according to Investopedia.

The FTSE 100's fall took it to two-month lows on Monday, slipping close to the 7,300-mark - having reached almost 7,800 in January.

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