United States
Is this the era, which was being assumed to be a dusk of the recession, turning out to be the dawn of a new one?
The pervasive 3% fall in Dow Jones, S&P 500 Index and NASDAQ – showcased a nightmare and a further alarm exposing the after effects of the recession and the slowdown. It is quite evident that the slowdown is still showing its effects in every nook and corner of the financial and economical scenario.
Gold prices and stock markets have risen, whereas the dollar has plummeted, as markets anticipate more stimulus measures by the United States Federal Reserve. Markets on Wall Street closed strongly, with the Dow Jones ahead by three percent, and the Nasdaq and S&P also rebounding.
A sigh of relief was breathed by investors on Tuesday, August 09, when the major US indices, DJIA, Nasdaq and S&P 500 had bounced back strong from their Monday losses. But it had to be short-lived! For, on Wednesday morning again, the markets slipped down terribly to give up all that was gained the day before.
The Dow Jones Industrial Average Index fell by 520 odd points to wipe out Tuesday gains which accounted for 430 points on the index.
It’s good news in the US markets as the indices open strong on Tuesday morning trade. Dow Jones Industrial Average started the day with considerable gains at 10,810 and has been moving up since then. Same is the case with S&P 500 and Nasdaq as investor confidence seems to be returning.
Second day after the S&P announcement of US downgrade and the Asian markets continued to bleed following the heavy losses in US markets on Monday. Although the situation looked like a complete sell off in the morning, Asian indices managed to recover back some of the losses before the close of day.
Japan’s Nikkei started the day more than 2 percent down and went deeper to levels of 8,656.
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