By Cormac Mullen Asian stocks fell Friday following a plunge in their USA counterparts as the dread that gripped equity markets earlier in the week re-emerged, amid concern rising interest rates will drag down economic growth.
The rout marked a stark turnabout in investors' mood from just two weeks ago, when indexes set their latest record highs. That's less than the 10 percent seen as a correction.
But inevitably investors took advantage of the sharp drop in prices to come back into the market, sending the key indexes higher.
In Europe, Germany's DAX fell 1.2 percent, while France's CAC 40 lost 1.2 percent.
US stocks rallied Tuesday as a late surge helped them regain nearly half their losses from the day before, when they had their biggest plunge in 6 ½ years.
Boeing and United Tech rose about 1.5 per cent, providing the biggest boost to the Dow, while Amazon's one per cent rise helped lift the S&P.
The Dow posted a 2.3 percent increase, its biggest daily percentage gain since January 29, 2016, while the S&P 500 rose 1.7 percent, its biggest one-day gain since November 7, 2016, the day before the election of Donald Trump as president.
GETTYMarkets around the world are suffering heavy losses
Asian markets followed Wall Street down after the Dow entered "correction" territory for the first time in two years. Higher interest rates, meanwhile, give central banks more leeway to stimulate the economy; should it fall into a recession, banks can trim rates again.
"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. Three months after, the index was up a bigger-than-usual 4.62%, on average, and six months after, the Dow was 11.02% higher, on average - more than triple its average anytime return!
On Monday, the Dow finished down 4.6 per cent at 24,345.75, while the S&P 500 sank 4.1 per cent, to 2,648.94.
In Tokyo, the Nikkei 225 index rose 1.1 percent.
It's unclear if the global markets are really moving in "lockstep", as some observers have suggested, but uncertainty abounds. The Nasdaq composite fell 274.82 points, or 3.9 percent, to 6,777.16. Even after this week's losses, the S&P 500 index is up 12.5 percent over the past year.
Also Wednesday, U.S. crude oil added 60 cents to $63.99 a barrel in electronic trading on the New York Mercantile Exchange. Strong economic performance and prospects with the then-recent USA tax reforms had fuelled a bull market which saw the measure's value rocket up 1,000 points in 12 days.
The dollar fell to 108.84 yen from 109.42 yen. The euro slipped to $1.2372 from $1.2377. Falls like this have not been registered since August 2011 when investors were fretting over Europe's debt crisis and the debt ceiling impasse in Washington that prompted a USA credit rating downgrade.
Maxwell stars again as dominant Australia reach final
England's attack showed one change from Hobart, with Liam Dawson recalled as second spinner in place of paceman Mark Wood. In 2014, a George Bailey-led side had registered a thumping eight-wicket win over England in a similar chase of 131.
EMUI 8 with Android Oreo lands on Honor 8 Pro in India
We would let you update with every single update made by Samsung in the future related to Android Oreo operating system. To remind you, Samsung Galaxy Note 5 was originally launched back in August, 2015 with Android 5.0 Lollipop on-board.
Paul Ryan praises Pelosi for 'spectacular' Eight-hour speech
House Minority Whip Steny Hoyer urged Democrats to vote no on the budget deal slated for a vote on the House floor late Thursday. As of this writing she is still refusing to support funding of the federal government until the immigration issue is resolved.
Mobile US, Inc. Profit Rises In Q4
By the end of 2018, it is targeting a population coverage of 325 million and a geographic coverage of 2.5 million square miles. Net hurricane losses amounted to United States dollars 40 million for the quarter, and USD 130 million for the full year.
Kim Jong Un invites S. Korea's Moon to Pyongyang
And now, Mr Kim has invited the South Korean leader to a summit in Pyongyang at the "earliest date possible". He added that he "wanted the honor of meeting with the men and women who fled the tyranny of North Korea".
Javier Hernandez says West Ham's Patrice Evra is 'top level'
Former French defender Patrice Evra marked his return to English football by joining West Ham United on a short-term contract. The incident occurred back in November when Evra was named as a substitute in a Europa League clash against Vitoria.
Black History Month a time for reflection
Woodson and ever since 1976 every US president has officially designated February as the month where is celebrated. Only giving a single month, not to mention the shortest one, is unfair towards an entire race of people.