Economy

Volatile market a good time to brush up on financial terms

Volatile market a good time to brush up on financial terms

The S&P 500, the index that investors pay the most attention to, is in a correction, down 10.2 percent from its recent high.

"Certainly, by any standards, it's not a bear market and not technically counted as a correction, which is usually measured as a 10 percent fall from the high".

He said indications of "inflation risk on the horizon" - including higher-than-expected jobs and wage growth last week amid higher labor costs in manufacturing and non-manufacturing - was fueling the market's nose dive.

Following relatively little change on Wednesday, the index once again experienced a drop Thursday, closing at 23,860, a decrease of 1,032 or about 4 percent.

In a volatile week for global investors, Japan's Nikkei 225 index slid 2.8%, while China's Shanghai Composite slumped by 4.1%.

European markets have opened in positive territory, with the FTSE 100 index up 0.72 per cent, within touching distance of the 7,200 points mark, at 11.15am.

He did "played Santa" for the market just around the Christmas a year ago, when he signed the GOP tax bill in law on Friday, capping off a months-long effort to pass the legislation through the Republican-controlled Congress on December 22.

Trump, who has repeatedly praised Wall Street gains during his first year in office, on Wednesday dismissed recent market rout, saying stocks should not be falling amid strong economic news.

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The Dow is still up 21 percent over the past 12 months, and the S&P 500 is up 15 percent.

The benchmark S&P 500 closed 10.4% below its record high on January 26. Experts date the current bull market to early March 2009. The losses were steady, unlike the sharp swings seen over the past few days. The index reached a record high of 26,616 on January 26. "Getting over 3.05 percent would indeed break the 30-year downtrend and be very important to suggesting yields should begin a long-term trend higher".

Despite the big swings, Tuesday's trading looked similar to the patterns that have shaped the market for the past year: investors bought retailers like Amazon and Home Depot and technology and industrial companies and banks, which do better when economic growth is strong. The Dow dropped near 50 percent in both 2008 and 1929 and if that happens this time, we need to start preparing with an individual emergency budget.

In small-caps, the Russell 2000 Index closed at 1,507.97 for a gain of 0.80 points or 0.05%. Brent crude, the benchmark for global oil prices, lost 76 cents, or 1.1 percent, to $66.86 a barrel in London.

Many Wall Street pros are blaming the stock market's recent sell-off on the bond market. Microsoft and JPMorgan Chase each lost 1.7 percent.

While Wednesday's trading lacked the wild swings of the prior two sessions, the Dow industrials moved in a roughly 500-point range, more than three times the average daily swing over the past year.

The closing numbers are displayed after the closing bell of the Dow Industrial Average at the New York Stock Exchange on Wall Street on February 8, 2018 in New York.


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