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Millevolt

Here we go! Market carniage continues...

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From Business Insider

Following the steep falls seen in US and European markets on Friday, Asian shares have been hosed in early Monday trade.

The Nikkei in Japan has sunk 2.07% to 19034.1, with the index now at its lowest level since early April. Since hitting an August 11 high of 20946.9, the index has now lost 9.21%.

In Australia, the losses are even greater with the benchmark ASX 200 currently off 2.20%. At 5100.5, it’s at the lowest level since February 6, 2014. From this year’s high of 5996.9 it’s lost 15% – 11% alone since August 4.

The KOSPI in South Korea is the relative outperformer, only losing 0.53%.

Having fallen by more than 3% on Friday, US stock futures are also under pressure. In early trade they’re lower by between 0.6-0.7%.

Chinese stocks, likely to be the centre of attention again in Asia, will resume trade at 11.30am AEST.

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Good evening!

The weekend is over and stocks are resuming their slide. 

Shortly after futures opened on Sunday night, Dow futures were down as much as 102 points, S&P 500 futures were off as many as 11 points, and Nasdaq futures were down around 30. 

These moves, however, are muted compared to the turmoil seen in markets last week, when the Dow lost more than 1,000 points and officially entered a "correction" after falling more than 10% from its most recent high. 

Overall, the stock market had its worst week in 4 years and people are pointing the finger all over the place. 

In his big preview of this week's market events, Business Insider's Sam Ro summed up the questions surrounding the most recent market action, writing:

What's causing the sell-off? Maybe it's worries about China slowing. Maybe it's the prospect of higher interest rates fueled by tighter monetary policy from the Fed. Maybe it's renewed turmoil in Greece and how it threatens Europe's lackluster economy. Maybe it's the ominous global economic warning signals from tumbling commodity prices. Maybe valuations were a little stretched and it had just been too long since we had seen a sell-off. Maybe it's everything. Maybe it's nothing.

Via investing.com, here's a look at the quick drop in Dow and S&P 500 futures early Sunday night. 

investing.com

 

 

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