The markets worry investors.
The stock indexes in North America have reached a new annual low Thursday on fears of prolonged global recession and falling demand for oil.
The S & P / TSX fell 765 points to 7724, substantially lowering the hollow annual 8451 points reached Wednesday. This is a decrease of 9.02% which all sectors have contributed.
"It's really a very strange day," said Carlos Leitao, strategist and chief economist at Laurentian Bank Securities. He contends that the "sharp decline" is due to "expectations of strong recession, which he said are" not appropriate ".
These fears cause oil prices to decline, and thus the Canadian securities energy (-14.53%). He added that the financial (-12.24%) have played a role in the fall of the TSX, partly because of the "surprising" results of TD Bank, which announced charges of 500 million.
The Canadian dollar fell below 80 cents U.S.. He lost 2.6 cent to 77.09. Oil continued its descent into hell. The black gold fell U.S. $ 4 to U.S. $ 49.62. Gold has advanced U.S. $ 12.7 an ounce to U.S. $ 748.7.
Extreme volatility in the U.S.
The U.S. indices have been ambivalent throughout the day, rising steadily from red to green. The Dow Jones finally lost 444 points (5.56%) in 7552. The S & P 500 fell 54 points (6.71%) at 752. Meanwhile, the Nasdaq fell by 70 points (5.07%), reaching 1316.
All U.S. indices finished a low year. Carlos Leitao contends that the confusion surrounding the rescue plan for the automotive industry in the afternoon added to the confusion and uncertainty for investors, and therefore affected the markets that ranged from red to green.
According to him, the leading indicator for October and applications for U.S. unemployment have also reacted U.S. markets. The Conference Board has lowered its assessment on the future growth of 0.8%, while applications for unemployment reached a peak in 16 years last week.
Europe and Asia in the red
In Europe, the FTSE in London lost 130.69 points (-3.26%) in 3874, the Paris CAC 40 dropped 107.47 points (-3.48%) at 2980 points. The German DAX fell by 133.89 points (-3.08%) at 4220 points.
In Asia, reductions were made. The Japanese Nikkei index fell 4.7%, while the Hang Seng lost 4.54% in Hong Kong.
"We have moved beyond bad apprehensions," said Miles Remington, sales of securities in Asia at BNP Paribas Securities in Hong Kong. "People expect any good news and there is none."
The stock indexes in North America have reached a new annual low Thursday on fears of prolonged global recession and falling demand for oil.
The S & P / TSX fell 765 points to 7724, substantially lowering the hollow annual 8451 points reached Wednesday. This is a decrease of 9.02% which all sectors have contributed.
"It's really a very strange day," said Carlos Leitao, strategist and chief economist at Laurentian Bank Securities. He contends that the "sharp decline" is due to "expectations of strong recession, which he said are" not appropriate ".
These fears cause oil prices to decline, and thus the Canadian securities energy (-14.53%). He added that the financial (-12.24%) have played a role in the fall of the TSX, partly because of the "surprising" results of TD Bank, which announced charges of 500 million.
The Canadian dollar fell below 80 cents U.S.. He lost 2.6 cent to 77.09. Oil continued its descent into hell. The black gold fell U.S. $ 4 to U.S. $ 49.62. Gold has advanced U.S. $ 12.7 an ounce to U.S. $ 748.7.
Extreme volatility in the U.S.
The U.S. indices have been ambivalent throughout the day, rising steadily from red to green. The Dow Jones finally lost 444 points (5.56%) in 7552. The S & P 500 fell 54 points (6.71%) at 752. Meanwhile, the Nasdaq fell by 70 points (5.07%), reaching 1316.
All U.S. indices finished a low year. Carlos Leitao contends that the confusion surrounding the rescue plan for the automotive industry in the afternoon added to the confusion and uncertainty for investors, and therefore affected the markets that ranged from red to green.
According to him, the leading indicator for October and applications for U.S. unemployment have also reacted U.S. markets. The Conference Board has lowered its assessment on the future growth of 0.8%, while applications for unemployment reached a peak in 16 years last week.
Europe and Asia in the red
In Europe, the FTSE in London lost 130.69 points (-3.26%) in 3874, the Paris CAC 40 dropped 107.47 points (-3.48%) at 2980 points. The German DAX fell by 133.89 points (-3.08%) at 4220 points.
In Asia, reductions were made. The Japanese Nikkei index fell 4.7%, while the Hang Seng lost 4.54% in Hong Kong.
"We have moved beyond bad apprehensions," said Miles Remington, sales of securities in Asia at BNP Paribas Securities in Hong Kong. "People expect any good news and there is none."
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