Stock markets across the world have dropped by amounts that will certainly cause a large sell-off when the US opens at 9.30. Analysts blame the Federal Reserve’s announcement about bond purchases and a weak China PMI number.
It is just as likely the drops are based on a maturing concern that major economies are already in a double dip recession which could hobble consumer and business spending for years, and increase unemployment above already high levels.
The DAX is off 3.6%, the FTSE by 4.1%, and the CAC 40 by 4.1%
These sell-offs follow a drop in Asia which took the Hang Seng down by 4.9% and the Nikkei down 2.1%
Douglas A. McIntyre
It’s Your Money, Your Future—Own It (sponsor)
Are you ahead, or behind on retirement? For families with more than $500,000 saved for retirement, finding a financial advisor who puts your interest first can be the difference, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors who serve your area in minutes. Each advisor has been carefully vetted and must act in your best interests. Start your search now.
If you’ve saved and built a substantial nest egg for you and your family, don’t delay; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.