Carnage with Global Stocks
Fears of the US market, the world’s biggest economy, hitting a recession have had every other international market anxious, causing share prices to collapse around the world. Each market suffered its worst since their respective worst days. Asian markets hung about in the red, trading was temporarily suspended in Seoul and Bombay, Wall Street (which was closed yesterday – Monday – in observance of the Martin Luther King day) still has to catch up, European shares slid down 6 per cent yesterday, London’s FTSE Protected content a 5.5 per cent plunge, though is recovering slightly since Monday’s disastrous market display (£77 billion from company values suffered as a result!) And the horror stories carry on. Well, the FTSE Protected content now down more than 13 per cent since the beginning of the year.
And until something happens in New York, all anyone can do is just sell, sell, sell. And the FTSE Protected content still expected to fall, fall, fall.
It seems rather bleak, but do you think that there might be any room for good buying opportunities?