Gallows humour the only cheer after Dow's worst-ever opening week
IF THE stock market continues the year as it began, the Dow Jones Industrial Average would end up with a sub-zero value.
It was the worst opening week for the blue-chip Dow in its 120-year history, with a loss of 6 per cent as traders in the US reacted to a stock market crash in Shanghai as if it was a harbinger of recession in China and, ultimately, the world. Those fears eclipsed all other market influences, even a surprisingly strong December jobs report.
The Standard & Poor's 500 finished the week down by almost 5 per cent.…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Bitcoin 'halving' has taken place: CoinGecko
Wall Street bonus rules return to regulatory agenda in third try
US: Nasdaq, S&P tumble as Netflix, chip stocks drag
Europe: L’Oreal gains cap third week of declines
China to facilitate Hong Kong IPOs and expand Stock Connect
Global equity funds see surge in outflows as rate cut hopes fade