"The U.S. stock market endured its
worst performance in 18 months on Thursday, driven lower by another
slump in Chinese shares and heavy selling by technical traders.
The
global rout started in China, where sharp declines in energy and
property stocks pushed the Shanghai Composite down more than 3 percent.
That selling soon spread to European and U.S. markets, where the
Standard & Poor's 500 index moved further below a closely watched
trading
level.
Investors, facing screens full of red, retreated to their usual places of safety: bonds, gold and cash.
"The
emerging markets really got slammed overnight and that quickly spread
to the rest of the world," said J.J. Kinahan, chief strategist at TD
Ameritrade.
The
Dow plunged 358.04 points, or 2.1 percent, to 16,990.69. The S&P
500 lost 43.88 points, or 2.1 percent, to 2,035.73 and the Nasdaq
composite lost 141.56 points, or 2.8 percent, to 4,877.49." yahoo
No comments:
Post a Comment