Markets

Markets Right Now: Stocks struggle to stabilize after tumult

Markets Right Now: Stocks struggle to stabilize after tumult

Ripple was down almost 12 percent on Tuesday, Ethereum was down 16.46 percent. South Korea's Kospi had declined 1.5 percent.

Hopes that Wall Street won't repeat the scale of Monday's losses helped limit the selling during European trading hours. The U.S. Senate reached a bipartisan deal Wednesday that would boost spending limits by $300 billion over the next two years.

Furthermore, the London, Paris and Frankfurt indexes tumbled overnight, with falls between 1.5 and 2.5 per cent.

Major U.S. indexes set their latest record highs just two weeks ago.

The Dow Jones Industrial Average shed more than 800 points in a period of 10 minutes - in the course of the afternoon, the Dow fell by 4.6%. The Dow and other indexes have been on a wild ride all week.

The Standard & Poor's 500 index rose 1.5 percent, to close at 2,619. The Nasdaq composite was up 115 at 7,083.

British markets closed Tuesday 1.5 percent lower, ending the day with the lowest close since December 7. The selling spread to overseas markets. At the opening bell, the Dow sank more than 500 points.

Andre Bakhos, Managing Director at New Jersey-based New Vines Capital said "The one thing I could say with confidence is that volatility has suddenly come back into the market". Schutte said that as central banks stop propping up the market, trading will probably be more volatile in the next few years. "There was a big dip last Friday and there's certain points that if the market falls to a certain level, the computer program just automatically says to sell, which is why we saw a very big dip today", said Halverson.




"The fundamentals in the United States look good but valuations are quite high in the equity space".

But Jones noted the market could likely spike again before a correction settles in.

U.S. stocks finished lower on Wednesday after early gains, with investors remaining cautious after the recent market slide and hedging their bets. The S&P 500 index, a broader market gauge, has also slipped into a correction, as it is down 10.2 now.

Japan's benchmark Nikkei 225 index surged as soon as trading began as investors sought bargains, finishing morning trading up 3.1 percent at 22,270.56.

Yields on 10-year U.S. Treasury debt hit a four-year high of 2.885 per cent, having jumped nearly 7 basis points on Friday. It lost 1,032 points, or 4.2 percent, to end the day at 23,860. The yield on the 10-year note was as low as 2.04 percent as recently as September.

The drop in early trading Tuesday marked the third straight day of steep declines. These included Dow members Apple, Home Depot and Chevron, all of which recovered more than four percent.

The swoon began Friday as investors anxious that accelerating inflation and higher interest rates could derail the market's record-setting rally. SPLRCU , down 2.2 percent, led decliners.

Australia's S&P/ASX 200 was up 1.0 percent at 5,889.60. The Nasdaq composite fell 274.82 points, or 3.9 percent, to 6,777.16.


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