Another Rough Day For The Markets

It's Officially a Stock Market Correction -- Here's What You Need to Do

US markets recover as volatility eases, but concerns remain

While the markets could see another day or two of declines, Money Morning Chief Investment Strategist Keith Fitz-Gerald says that panicking is the worst mistake you can make right now.

The broad-based S&P 500 sank 3.8 percent to 2,581.00, while the tech-rich Nasdaq Composite Index plunged 3.9 percent to 6,777.16. Meanwhile, perceived safe havens - including the Japanese yen and Swiss franc - drew demand amid the turmoil. On a percentage basis, Monday's 4.6 per cent decline was not even in the top 20.

The only positive sign for now is that United States futures are in the green zone on Friday morning.

But this week's market slide has demonstrated that old saying on Wall Street is true - "you buy on the rumor and sell on the news".

The broader S&P 500 lost 34 points, or 1.3 percent, to 2,647. It will most likely follow the regional and global trend.

Martin, of Globalt Investments, said he didn't see anything specific moving the market lower Thursday.

Andre Bakhos, Managing Director at New Jersey-based New Vines Capital said "The one thing I could say with confidence is that volatility has suddenly come back into the market".

Pressure on U.S. stocks again came from the Treasury market, where another weak auction put gave bond bears ammunition, sending the 10-year yield as high as 2.88 per cent. Equity investors took the signal to mean interest rates will push higher, denting earnings and consumer-spending power.

Senate leaders announce two-year budget deal
Her speech is supporting Democrats' attempt to legalize Dreamers and she wants Republicans to act in support of this, too. Ms Pelosi was advocating on behalf of undocumented immigrants who came to the U.S. as children, known as "Dreamers".

Tuesday, with the Dow sitting down roughly 100 points, or 41 basis points, Apple was one of the biggest gainers of the day, up 2.61% to $160.58 at the time of writing. That's also a big change: the market has been stable in the past year because every time it inched lower, investors swooped in looking for bargains and soon sent them higher again.

Benchmark U.S. crude lost 77 cents, or 1.3 percent, to $60.38 per barrel on the New York Mercantile Exchange. The tumult started last Friday as investors anxious about signs of rising inflation.

In corporate news, shares of Twitter soared 12.15 percent to 30.18 USA dollars apiece on Thursday, after the social network delivered better-than-expected quarterly results and reported its first-ever quarter of profitability.

Japan's Nikkei 225 index skidded 6.1 percent to 21,296.03 by early Tuesday afternoon.

In emerging markets, the South African rand fell 0.7 per cent and the Chinese yuan and Polish zloty 0.2 per cent.

Fears about the bond market, inflation and interest rates seized investors again Thursday and drove the Dow, the S&P 500 and the Nasdaq all into the red for the year.

The Dow was down 501 points, or 2 percent, to 24,397. DXY last rose 0.05 percent, with the euro up 0.19 percent to $1.239.

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