Posted on 01/24/2014 4:13:44 PM PST by mandaladon
U.S. stocks fell sharply and Treasuries rallied on Friday, with the Dow Jones Industrial Average tumbling triple-digits for a second session and posting its worst week since November 2011, as investors pulled money from emerging markets and other assets viewed as risky.
As Wall Street's faith in some of the world's largest developed countries unraveled, currencies of those nations were hit, with Turkey's lira falling to a record low against the dollar, and Argentina's peso down sharply against the U.S. currency.
"We've touched off by what's going on around the world, so to speak, and are reallocating assets from some of the emerging markets into what is thought of as more reliable," said JJ Kinahan, chief strategist at TD Ameritrade. "It's a safe parking spot," Kinahan added of fixed income. "It appears this is a wait-and-see equity market that lacks near-term conviction, which is understandable after the strong returns of 2013. The market priced in a lot of positive economic news in 2013, and we recently have seen readings that point to some uncertainty," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. "Emerging-market currencies have been coming under pressure causing some to erroneously point out it is because of the Fed taper. It is more because of political instability in countries like Argentina and Turkey, which is just another reason to stay underweight EM," Nick Raich, CEO at the Earnings Scout, wrote in emailed research.
(Excerpt) Read more at cnbc.com ...
Now this is what I see as quantitative easing...
Now this is what I see as quantitative easing...
Ya see, I keep getting this confused with that
other thing Obama brought us...qualitative easing.
If this continues tomorrow, I’ll tentatively say we are entering another downturn.
And that brought up that Obama still has three years left in office.
The mass depression that the thought caused led to the massive sell off.
“If this continues tomorrow, I’ll tentatively say we are entering another downturn.”
I can guarantee there won’t be any major changes tomorrow.
Do you mean the trajectory will continue, or it will stagnate?
He means that tomorrow is Saturday and the markets are closed.
I’m so confused... :^)
Don’t Worry . . . Be Happy.
*facepalm* forgot it was Friday
So long sad times
Go long bad times
We are rid of you at last
Howdy gay times
Cloudy gray times
You are now a thing of the past
Happy days are here again
The skies above are clear again
So let’s sing a song of cheer again
Happy days are here again
Altogether shout it now
There’s no one
Who can doubt it now
So let’s tell the world about it now
Happy days are here again
Your cares and troubles are gone
There’ll be no more from now on
From now on ...
Happy days are here again
The skies above are clear again
So, Let’s sing a song of cheer again
Happy times
Happy nights
Happy days
Are here again!
LOL!
What if it’s unchanged tomorrow?
I think it will be more centric to him.
Barrycoin perhaps.
Yes - one day it would drop 100 point because of fears over China. The next day it would gain 150 points because of the rosy outlook for nuclear energy in the Middle East...
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