bloomberg.com
U.S. stocks plunged, driving the Standard & Poor’s 500 Index to the biggest nine-day decline since the equity bull market began in March 2009, as concern the global economy is weakening intensified.
The S&P 500 dropped 3.2 percent to 1,219.48 at 2:37 p.m. in New York. The benchmark gauge for U.S. equities fell for the eighth time in nine days, to the lowest level on a closing basis since Dec. 1. The more than 10 percent drop since April 29 means the index has entered what is known as a correction. The Dow Jones Industrial Average retreated 334.22 points, or 2.8 percent, to 11,562.22 today, erasing its 2011 gain.
“It’s unbelievable,” David Joy, Boston-based chief market strategist at Ameriprise Financial Inc., said in a telephone interview.
His firm oversees $693 billion in assets. “It’s nervousness. The emotional aspect of this is ticking higher. It’s left everybody with this mindset that things are not good. The situation in Europe is getting everyone concerned. We had the impact of the Japan intervention in the currency market. The flight-to-quality trade is going to pick up.”
Stocks tumbled from Hong Kong to London and Sao Paulo as the yen dropped by the most since October 2008 against the dollar after Japan sold its currency to stem gains that threaten the nation’s economic recovery. The euro fell against the dollar after European Central Bank President Jean-Claude Trichet said policy makers will offer banks additional cash to ease tensions in financial markets.
“The market’s essentially pricing in a greater risk of a recession,” New York-based Kevin Shacknofsky, who helps manage about $6 billion for Alpine Mutual Funds, said in a telephone interview. “It’s the cyclical, economically sensitive parts of the economy that are getting hurt the most.”
Energy and raw-material shares led the declines in the S&P 500, falling at least 5.1 percent. Chevron, the second-largest U.S. oil company, slid 4.7 percent to $97.98. Alcoa, the largest U.S. aluminum producer, sank 6.4 percent to $13.35. Freeport- McMoRan, the world’s largest publicly traded copper producer, retreated 6.1 percent to $47.55.
#1 by dinkic on avgust 5th, 2011
Triše je objavio odluku da se nastavi kupovina obveznica na tržištu duga, ali ta intervencija nije donela željeni smirujući efekat među investitorima koje resteruje i rastuća kamata na dve današnje emisije dužničkih obveznica Španije.
Sve glavne evropske berze su danas opale za više od 3 odsto. Indeks u Parizu je izgubio 3,90 odsto što je najveći pad te berze u poslednje dve godine. Pad te berze traje već devet dana uzastopno, i prvi je od 2002.
Današnji pad indeksa Berze u Londonu je 3,43 odsto, a Berze u Frankfurtu 3,40 odsto. Na Berzi u Njujorku, indeks Dau Džons je izgubio više od dva odsto.
„Tržište ide nadole. To se mora završiti pre no što dođe do stabilizacije“, rekao je Mejr Benamram iz berzanske kuće Aurel BGC.
Indeks berze u Milanu gde je trgovanje bilo prekinuto na nekoliko sati da bi se tržište smirilo, na kraju je opao za 5,16 odsto. Indeks Berze u Madridu je opao za 3,89 odsto, a švajcarske berze za 3,61 odsto.
Mnogi analitičari ipak smatraju da je otkup obveznica za račun ECB, što pomaže najslabijim državama, uslov za smirenje tržišta.
Evropska centralna banka nije kupovala državne obveznice od maja. ECB je odlučila da zadrži svoju ključnu stopu na 1,5 odsto što će pomoći bankama da budu likvidnije.
Triše je „pokušao da podrži tržište, ali ne dovoljno da bi uverio investitore“, rekao je Valdemar Braun-Teremin, menadžer firme Turgot Aset Mendžment.
Evro je nastavio da pada u odnosu na američki dolar, i dospeo ispod praga od 1,42 dolara za jedan evro. Zlato je međutim postiglo novi rekord cene od 1.681,65 dolara za jednu uncu, a cena nafte je naglo pala.
U zoni evra, strah od zaraze raste. Italija i Španija su ponovo pod pritiskom tržišta i njihove vlade su se mobilisale da zaustave paniku, čak i pošto je Brisel isključio bilo kakav razgovor o njihovom spasavanju.
Italijanski premijer Silvio Berluskoni je posle sastanka sa socijalnim partnerima najavio „pakt“ o povećanju privrednog rasta da bi učvstio tržište do kraja septembra.
„Jasno je da kriza više nije ograničena samo na periferiju zone evre“, priznao je predsednik Evropske komisije Žoze Manuel Barozo u pismu poslatom u sredu liderima Evropske unije.
Trezor Španije je u četvrtak objavio odluku da otkaže narednu emisiju obveznica, zakazanu za 18. avgust. Španija je do sada emitovala 3,3 milijarde evra obveznica po naglo rastućim kamatnim stopama: 4,813 odsto za trogodišnje obveznice (ranije: 4,037 odsto) i 4,984 odsto za četvorogodišnje (ranije: 2,862 odsto).
I u SAD, znaci usporavanja privrede sve više podstiču investitore da budu oprezni.
#2 by aleksandar r. on avgust 5th, 2011
Pa, brate, to ti je dokaz da se PROGNOZE WallStreetJournal-a i slicnih NIKADA NE UZIMAJU OZBILJNO. Oni pisu ciljano i nalaze se na strani NYSE.
Pocelo je i te kako. Prati kako ce se razvijati. Sada sledi veca samarcina nego 2008. Ili neki malo ozbiljniji rat. Vec dugo tipujem na Iran, a „prica se“ da Izrael planira da u septembru bombarduje njihova pogranicna nuklearna postrojenja.
#3 by Andrew Rummer on avgust 8th, 2011
PSA Peugeot Citroen, which was today downgraded by Morgan Stanley to “underweight,” led carmakers lower, tumbling 8.3 percent to 20.55 euros. Daimler AG (DAI) sank 5.5 percent to 39.67 euros and Volkswagen AG (VOW) retreated 5.8 percent to 109.15 euros.
“The downgrade is just one factor in a very broad issue — this is becoming a synchronized global growth slowdown,” said Ian Harnett, heard of European strategy at Absolute Strategy Research Ltd. on Bloomberg Television. “Markets on both sides of the Atlantic are discounting not only a recession, but actually a very aggressive recession.”
#4 by benedikt on avgust 8th, 2011
Gold shot up $51.80, or 3 percent, to $1,703.60 in Monday morning trading after peaking earlier at a record high of $1,718.20 per ounce.
Still, adjusted for inflation, an ounce of gold remains below its 1980 peak of $850, which translates into about $2,400 in today’s dollars.