It was 4 September 2008, another trading session at Wall Street. What was different from any other usual trading session was that the market closed in red, down by 2.99 percent. The Dow Jones Indurtrial Average Index, DJI tumbled like free fall by 344.65 to its closing index at 11,188.23.
The big collapse was believed to be caused by negative retail data and the figures for jobless claims.
Nasdaq, the index reflecting Tech-Stocks in U.S. also saw a very substantial drop. Nasdaq or COMPX, was down by 74.69 or 3.20 percent while the index reflecting broad market, the Standard and Poor 500, S&P 500 (INX), dropped by 38.16 or 2.9 percent.
I think another day of tumbling for the Asia Markets which would probably follow the direction of Wall Street on global economic should slow down worries.
The above are of personal opinion and not at all an inducement to trade.
Leave Your Comments