Monday, August 24, 2015

Stocks Smashed When Morning Comeback Flops

From Investors.com:

Stocks were smashed again Monday after a morning comeback attempt lost steam and the Dow Jones industrial average was 588 points lower when the dust cleared.

Volume was substantially higher on the NYSE exchanges, according to preliminary data in the stock market today.

If the numbers hold up, it will be the fourth straight day of rising downside volume.

The S&P 500 ended down 3.9% and the Nasdaq lost 3.8%.

The Dow fell 3.6%.   At their lowest levels of the day, the Dow was off 6.6%, the S&P 500 5.4% and the Nasdaq 8.8%.

The sell-off followed the Shanghai composite, which dropped 8.5% overnight and sent global markets reeling.

Oil settled down 5.5% at $38.24 a barrel.

The dollar was weaker.   The euro was stronger.

The yield on the 10-year Treasury note fell below 2% during the day.

Fed funds futures rose, signaling a growing perception that the Federal Reserve will not raise interest rates in September...
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Link: http://news.investors.com/investing-stock-market-today/082415-767902-stock-market-today-smashed-dow-down.htm?ref=HPMStory

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