World economy talk

[Monseratto]

Happy ghost month...

Stocks plunge 2% on Fed, growth concerns - Yahoo Finance



Greek PM Tsipras resigns, calls for early elections - CNN.com

[kimbon]

Happy ghost month...

Stocks plunge 2% on Fed, growth concerns - Yahoo Finance



Greek PM Tsipras resigns, calls for early elections - CNN.com

Dow YTD is down by 4.66%...
https://ycharts.com/indices/%5EDJI/ytd_return
...China stocks tumble yesterday
China stocks tumble as investors remain cautious | Business | The Guardian

PSE would also be likely to plunge when resumes trading on monday. peso continues weakening vs USD.... Hay naku, dadami ata ang grey hair natin.

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Happy ghost month...

Stocks plunge 2% on Fed, growth concerns - Yahoo Finance



Greek PM Tsipras resigns, calls for early elections - CNN.com

Dow YTD is down by 4.66%...
https://ycharts.com/indices/%5EDJI/ytd_return
...China stocks tumble yesterday
http://www.theguardian.com/business/...emain-cautious

PSE would also be likely to plunge when resumes trading on monday. peso continues weakening vs USD.... Hay naku, dadami ata ang grey hair natin.

[Lady Bathory]

The implied probability of a September rate hike fell from 50% to 24%. Gold is rising on falling rate hike probability.

[kimbon]

sh*t
Asian stocks fall further after global sell-off - Yahoo News

another sh*t
Stocks tumble again as global stock sell-off deepens

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sh*t
Asian stocks fall further after global sell-off - Yahoo News

another sh*t
Stocks tumble again as global stock sell-off deepens

[Lady Bathory]

Strong demand for safe havens drove the 10Y treasury yield down to 2.05%. The dollar continues to fall against the yen and euro as carry trades are unwound. Equities are now adjusting to an economic reality that commodities have been signaling for some time (the global economy is weak).

[Monseratto]

And you thought DJ Stock drop of 358 pts. on thursday was bad...

The Dow Jones industrial average (.DJI) closed down 530.94 points, or 3.12 percent, to 16,459.75, the S&P 500 (.SPX) lost 64.84 points, or 3.19 percent, to 1,970.89 and the Nasdaq Composite (.IXIC) dropped 171.45 points, or 3.52 percent, to 4,706.04.

For the week, the Dow dropped 5.8 percent and the Nasdaq tumbled 6.8 percent.

Better not look at the local bourse on monday...it going to be bloody red...

[dreamur]

Aug 21 (Reuters) - Fears of a China-led global economic slowdown drove Wall Street to its steepest one-day drop in nearly four years on Friday and left the Dow industrials more than 10 percent below a May record.

Wall Street's selloff this week suggested investors are growing nervous about paying high prices for stocks at a time of minimal earnings growth, tumbling energy prices and an expected rate hike by the U.S. Federal Reserve that could gradually usher the end of almost a decade of easy money.

Stocks have seen few large moves this year, staying in a narrow range throughout 2015, but volatility spiked this month once China surprisingly devalued its currency. Weak Chinese manufacturing data on Friday, and another drop in China's stock market, rattled investors' nerves and led to Friday's tumble.

While this month's selloff has been swift, many analysts feel the declines may be close to being exhausted, with a turnaround possibly starting as soon as next week.

"You're definitely witnessing a perfect storm in terms of China timing, people on vacation that affects liquidity, and you've got a lot of questions on the Fed and people are obviously focused on oil," said Andrew Frankel, co-president of Stuart Frankel & Co in New York.

"If you're buying a stock, you're dipping a toe in here."

The Dow Jones industrial average closed down 530.94 points, or 3.12 percent, to 16,459.75, the S&P 500 lost 64.84 points, or 3.19 percent, to 1,970.89 and the Nasdaq Composite dropped 171.45 points, or 3.52 percent, to 4,706.04.

Next week, investors will focus on housing data, which has been strong of late, and the preliminary reading of second-quarter GDP, which could lead investors back towards riskier assets if they point to an improving U.S. economy.

The Russell 2000 index of small-cap stocks also confirmed a move into correction territory, marking a 10-percent decline from its most recent closing high on June 23.

The CBOE Volatility index, Wall Street's so-called fear gauge, touched its highest since October and notched its biggest-ever weekly percentage gain.

The S&P slumped 5.8 percent for the week, its biggest weekly decline since September 2011. The index lost more than $1 trillion of its value this week, according to S&P Dow Jones Indexes. Only 10 S&P 500 components advanced on Friday.

The selloff was broad, with all 10 major sectors in the red. The energy index dropped 2.6 percent as U.S. crude oil dipped below $40 a barrel for the first time since the 2009 financial crisis.

Many investors still anticipate the U.S. central bank will begin raising interest rates by the end of the year, but fewer of them expect a September hike after reading minutes from the Fed's July meeting on Wednesday.

Apple, still by far the most valuable U.S. company, fell 4.6 percent to $107.44, the biggest drag on the S&P and the Nasdaq.

For the week, the Dow dropped 5.8 percent and the Nasdaq tumbled 6.8 percent.

The drag from Apple pushed the technology sector down 4.2 percent. The consumer staples index fell 2.6 percent, moving into the red for the year. Eight of the 10 S&P sectors are now in negative territory for the year.

Six stocks fell for every one that closed higher on the NYSE; on the Nasdaq, the ratio was about 2-1/2 decliners for every 1 advancer.

The S&P 500 posted no new 52-week highs for the first time since Aug. 8, 2011, after S&P downgraded the U.S. credit rating, while there were 75 new lows; the Nasdaq recorded 13 new highs and 276 new lows.

Volume was heavy, with about 10.6 billion shares traded on U.S. exchanges, well above the 6.75 billion average this month, according to BATS Global Markets.

[Lady Bathory]

Last week China dragged down global equities. The trigger is the flash manufacturing PMI which fell to its lowest since 2009. The flash manufacturing PMI is an independent measure of China’s manufacturing growth so it's more reliable than Chinese gov't data. The long expected China slowdown is really emerging now. The scary thing is nobody knows how bad things are going to get. This morning we're seeing offshore RMB depreciating against the dollar which could pressure China to let onshore RMB depreciate. So far China is maintaining onshore RMB under 6.4 to the dollar but who knows how long China can maintain the peg with depreciation pressure from outside.

[Lady Bathory]

Flight to safety drives US 10Y yield to below 2%. Yen and euro rally as carry trades are unwound. The volatility index has gone vertical.

[dreamur]

Flight to safety drives US 10Y yield to below 2%. Yen and euro rally as carry trades are unwound. The volatility index has gone vertical.

What is the expected recovery period?

[Monseratto]

Asian stocks swoon as China stock rout accelerates

Mainland markets in free fall

More than $5 trillion has been wiped off the value of global equities markets since China's shock devaluation of the yuan on August 11 sparked fears the world's second-largest economy is weaker than thought.

The rout in China's benchmark Shanghai Composite index gathered pace early Monday, sinking as much as 8.2 percent to a five-month low of 3,218.5 points, even as authorities allowed pension funds managed by local governments to invest in the stock market for the first time over the weekend. The move could potentially channel hundreds of billions of yuan into the country's struggling equity market.

In Hong Kong, the Hang Seng index tracked the sluggishness in its mainland peers to fall nearly 4 percent at the start of trade, with heavyweights such as HSBC and China Mobile losing more than 3 percent each.

Japan's Nikkei 225 index hit a fresh five-month low of 18,812.4, as the yen climbed against the U.S. dollar amid cooling bets that the Federal Reserve will raise U.S. interest rates next month.

The Topix index lost nearly 4 percent in early trade, bringing the losses from its eight-year peak hit less than two weeks ago to more than 10 percent.

In Southeast Asia, Philippine shares were the biggest losers, down 5.4 percent at its lowest level since December 2014.

Singapore's Straits Times index remained well below the key psychological level of 3,000 points, dropping 2.7 percent to touch a more than three-year low. Meanwhile, Malaysia's FTSE Bursa Malaysia KLCI index retreated 1.7 percent to a three-and-a-half-year low, while the ringgit hit a fresh 17-year low against the greenback.

[Monseratto]

Meanwhile one Singapore dollar=3 Malaysian Ringgit...




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Meanwhile one Singapore dollar=3 Malaysian Ringgit...

[Lady Bathory]

EURUSD is up 500 pips in 4 days. The ECB's ultra-low rates encouraged lots of leveraged carry bets. Risk aversion = unwinding time (see European equities). The euro also gained on the repricing of the dollar due to lowered Fed rate hike expectations.

[CVT]

Significant drops in Asia... Wall Street is jittery... Opening in a few minutes....

[Monseratto]

Bloody Black Monday....

Wall Street in free-fall as traders ditch stocks amid global rout
By Adam Samson
1 hour ago

Wall Street plummeted early Monday -- with the Dow falling more than 1000 points -- as traders aggressively sold stocks and bid-up only the safest asset classes.

The Dow Jones Industrial Average tumbled 1065.4 points, or 6.5%, to 15419, the S&P 500 plunged 97.6 points, or 4.9%, to 1874, and the Nasdaq Composite dived 328 points, or 7%, to 4385.

[Monseratto]

Apple plunges 5% to break below $100 a share - Yahoo Finance

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http://finance.yahoo.com/news/apple-plunges-5-break-below-121027426.html

[dreamur]

Puuulisss stop!

[Lady Bathory]

Dad: did you get wiped out?
Me: nope
Dad: how?
Me: 100% cash since the end of July
Dad: I was hoping you got wiped out so you get a real job
Me: haha

[Lady Bathory]

PSEI trading halted.

[denkatol]

why trading halted