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Good Morning Friends,
How was weekend? It was exclent for me. I was at matar for free medical camp organize by manav parivar. My weekend was exclent. Y’day was the first day of 5 days Diwali festival. It was Dhanteras. I am going to write one full post on Dhanteras soon.
It’s Diwali all around. All are expecting something good at Dall Stree, the place were Bombay Stock exchange located. All eyes seem to be on Dalal Street that will open in a short while after two days and just a day before Diwali.
Friday saw one of the most devastating days in the history of the exchange. The Sensex sunk to the lowest level since November 2005, closing 11 per cent down.
There was panic and carnage in the world markets as well. The big question is whether the markets will see another day of mayhem.
I was reading finance news and I just got shock with the news Dow Jones fall below 9000 level. Read the news I found on msnbc.
A runaway train of a sell-off turned the anniversary of the stock market peak into one of the darkest days in Wall Street history Thursday, driving the Dow Jones industrials down a breathtaking 679 points and deepening a financial crisis that has defied all efforts to stop it.
Stocks lost more than 7 percent, $872 billion of investments evaporated, and the Dow fell to 8,579. When the average crashed through the 9,000 level for the first time in five years in the final hour of trading, sellers had only begun to hit the gas pedal.
As bad as the day was, even worse was the cumulative effect of a historic run of declines: The Dow suffered a triple-digit loss for the sixth day in a row, a first, and the average dropped for the seventh day in a row, a losing streak not seen since 2002.
“Right now the market is just panicked,” said David Wyss, chief economist at Standard & Poor’s in New York. “Nobody wants to take on any risk. Everybody just wants to get their money and put it under the mattress.”
It all took place one year to the day after the Dow closed at its record high of 14,164. Since that day, frozen credit, record foreclosures, cascading job losses and outright fear have seized the market and sapped 39 percent of its value.
Paper losses for the year add up to an staggering $8.3 trillion, according to figures measured by the Dow Jones Wilshire 5000 Composite Index, which tracks 5,000 U.S.-based companies representing almost all stocks traded in America.
news from msnbc
Good Evening friends, Finance is my field of interest and stock market is something I love to invest money. i read following news on web which is a bitter fact as on today. Investors from all over world had lost $10 trillion so far this year. The world stock market remains on down side majority time of the year. Read following news from Indian Express website.
In a tight bear hug since the beginning of this year, stock market investors across the world have lost more than 10 trillion dollars — an amount more than 10 times of the entire investor wealth in India.
All 52 equity markets of the world have suffered a loss of USD 10.5 trillion so far this year, leading rating agency and financial data provider Standard and Poor’s said on Friday.
The worldwide loss this year is 11.7 times of the total market valuation of all the listed companies in India, which currently stands at around 900 billion dollar. Indian stock market valuation has nearly halved so far this year.
Year-to-date, all 26 developed markets have lost ground while nearly all the 26 emerging markets have suffered loss. Jordan, was the only country that managed to return positive YTD returns (up 0.96 per cent).
“September was the worst month for emerging markets since August 1998,” Silverblatt said, as all the 52 markets were down during the month, resulting in a loss of USD 4.1 trillion loss in equity. In the third quarter all the 52 markets posted a loss of USD 5.8 trillion which amounted to a year-to-date loss of USD 10.5 trillion.
The fall was more severe in emerging markets, as they fell by 27.98 per cent, while developed markets lost 21.62 per cent during the third quarter of this year, according to Standard & Poors Senior Index Analyst Howard Silverblatt.
The US was down by 8.85 per cent, while Russia was off by 45.52 per cent. The Philippines was the only market that reported positive returns during the third quarter (0.04 per cent).
For September, emerging markets lost 18.76 per cent while developed markets fell 14.80 per cent. The US continued to perform better than other markets with a loss of 9.29 per cent during the month, Silverblatt said.
As per Standard & Poors Index Services, some of the stock markets that witnessed an erosion of over 50 per cent in their valuations so far this year include — Pakistan (52.18 per cent), India (50.34 per cent), Ireland (51.66 per cent) and Iceland (69.17 per cent).
Among the BRIC peers India suffered the maximum loss, while for Brazil it was the minimum. Brazil reported a loss of 31.09 per cent, Russia (46.85 per cent) and China (46.35 per cent).
Other major losers include — The United States (19.47 per cent), Japan (23.24 per cent), The United Kingdom (32.02 per cent), Germany (33.75 per cent) and France (30.32 per cent)….
news from indianexpress