Oil prices slumped on Friday and a global supply surplus increased concerns about Iran under pressure as the market kept the $ 30 a barrel level broke down. In a bear market, with the Shanghai Composite Global markets are sold. Newslook
Traders increasingly disturbed latest Swoon in oil prices and a big selloff in Chinese as the reaction to the 2016 Wall Street that the market storm rolled again, before tumbling 435 points to 400 points after the re- With Dow, stock investors are taking aim at the stock.
So far, the big days of the new year in a replay, Wall Street's rebound yesterday turned out to be short-lived and resumed heavy selling. Latest selloff back key $ 30 a barrel below the level of US production is about 6% slide in crude prices was sent to sparking. Another big stock market bear market territory, put it back in mainland China, where the Shanghai Composite slid 3.6 percent slide in, or more than 20% from recent high investment was angry, he added.
Around 11 pm ET, the Dow Jones industrial average below 16,000 for the first time since August Return, down about 400 points, or 2.5 per cent. Standard & Poor's 500 Index dropped 2.4 percent and the Nasdaq composite index fell about 3.1 percent. Both indexes were off their earlier lows.
The selloff on Wall Street, many investors spooked by the continuing bloodshed throw in the towel, and risk are reduced to pare their positions in stocks that is a sign.
"It is now a near-term bottom feels a bit like a defeat," Barry Bannister, Stifel chief equity strategist, told USA Today.
Investors long weekend may not want to hold stocks as Wall Street closed on Monday for Martin Luther King Jr. Day is the fact that, too, may be driving sales, some Wall Street According profession.
A powerful Wall Street executive before the end of the year, a 10% stock can slide warned.
Black CEO and chairman in appearance Friday on CNBC Lawrence Spy "box Squawk" "bordering on a bear market, a decline in the real market." Features of the current financial situation
"But the pace at which the risk of this happening again is only one, where we're going," the Wall Street forecast earnings per share on Friday reported higher earnings but remember that the money management giant funk, involved in . He said that with oil touching $ 25 per barrel, a 10% decline in financial markets forecast.
"I really believe there is enough blood in the streets, we will have to test the market lower," Fink said. However, such a market balance will fall to a "buying opportunity," he said.
Weak US economic data today has not helped matters. December retail sales dipped 0.1% in December. New York area manufacturing much weaker than expected in December also fell short of estimates and industrial production came in January. Weak points in the fourth quarter GDP growth estimates at least two Wall Street firms to encourage. Barclays now sees growth of 0.4% in the last quarter of 2015 and 1.2% to 0.8% for UBS reduced its estimates.
Bannister of Stifel is spooking investors lays out: "What most investors fear deflation, a fall in the general price level," he says. "Two of the biggest catalyst for deflation China is devaluing its currency and possibly the Fed hiking rates go too fast."
If there is good news, he says, it ", China has in recent days that pretty decisive as to stabilize their currency has continued to move can dissipate" the deflation concerns and the Fed's plan to increase the interest rate reduces the number of years. Bannister Fed hiking rates in 2016 only a half of a percentage point, and it does not predict the full point. "It is positive for the stock market sentiment, will be fed with," he says.
Around 5.50 AM ET Brent crude down 3.8% at $ 29.72 a barrel - the oil on Friday for the second time in a week fell to under $ 30 per barrel. 2003. US production of crude to $ 29.49 Mini Speaker $ 1.71, or 5.5 percent, since crude was trading down for a short time on Tuesday fell under $ 30 per barrel.
Renewed concerns about China's economy led global stocks as the Shanghai Composite Index, December 8, 2014 since, to finish at 2,900.97 at the close down 3.55%.
The Shanghai Composite Index officially entering bear market territory, from its high in December dropped more than 20%.
China's official Xinhua News Agency last month, banks' new yuan loans that fueled economic growth was slowing in a sign for credit, more than a year ago reported that its speed has fallen.
Japan's Nikkei 225 index, Hong Kong's Hang Seng Index dropped 1.5% to 19,520.77, while lost 0.5% to close at 17,147.11.
European shares were lower Friday. Germany's DAX, France's CAC 40 1.6% from 1.3% was lost and Britain's FTSE 100 was down 1.5 per cent.
Reports on consumer sentiment, retail sales and manufacturing in the United States are due Friday. Several large banks, including Citigroup and Wells Fargo also reported quarterly earnings are released.