NEW YORK (MarketWatch) — The SP 500 has plunged 48 points, or 2.6%, to 1,829.62 on Wednesday. If it closes at this level, it will be its biggest one-day percentage drop in 3 years. The benchmark index is more than 9% below its record close, reached on Sept 18.
From the technicals, such as the bearish death cross, to the fundamentals, such as the Shiller CAPE ratio, the market has been screaming “sell” from all corners.
Interconnected worries over deflation, a potential rerun of the eurozone debt crisis and some surprisingly rotten U.S. economic data shock stock-market investors.
NEW YORK (MarketWatch) — The Nasdaq Composite has entered “correction” territory, which many view as a drop of at least 10% from significant high, for the first time in two years. The index was down 2.4% at 4126 in recent trade, or 10.3% below the Sept. 2, 14-year closing high of 4598.19. The last correction was seen in November 2012. Meanwhile, the SP 500 was down 9.4% from its Sept. 18 record closing high of 2011.36 and the Dow industrials are down 8.1% from there all-time closing high of 17279.74 seen Sept. 19.
NEW YORK (MarketWatch) — The Dow Jones Industrial Average has dropped 430 points, or 2.6%, to 15,871.50. If that holds, it will be its biggest one-day drop since Aug 10, 2011. The blue-chip index is nearly 8% below its closing high, reached on Sept 19.
SolarCity wants to sell bonds to the masses—and maybe snap some more customers along the way.
Wal-Mart Stores Inc. will halve the growth of supercenters at Walmart U.S., its biggest unit, to devote more spending to online operations.
Time Warner premium cable network HBO to launch stand-alone streaming offering early in 2015.
Making the “hardest trade” is often the right one, because it’s hard to go against the crowd when everybody’s feeling the same way.
A new study says bigger weddings lead to more divorces.
NEW YORK (MarketWatch)– Mohamed El-Erian said Wednesday’s rally in the Treasury market is a key example of what happens when technical trading patterns take hold of the market. El-Erian, who is chief economic adviser at Allianz SE and former CEO of Pimco, told CNBC that he was “stunned like everybody else,” to see the sharp plunge in Treasury yields, but “this is what happens when you get technical overshoots.” The 10-year Treasury note yield dropped as much as a third of a percentage point on Wednesday, but recovered to trade 21 basis points lower on the day at 1.995%. El-Erian noted that despite concerns about global growth, it would be difficult for the Federal Reserve to reinstate easing programs like the bond-purchases it is currently wrapping up. “It is very hard for the Fed to change its balance sheet approach,” he said on the television network. Read: What this wild market is telling us: RIP inflation
Don’t expect the Fed to start another round of asset purchases given the recent concern about the health of the global economy, economists said.
The energy sector has e
The stock-market decline has yet to run its course. Keep a watchful eye on the performance of defensive and interest-rate-sensitive assets — they may be an early warning of a longer-term trend which may wreak havoc with your portfolio