Global Markets Slide, Setting the Stage for Another Drop on Wall St.

Stocks were particularly hard hit in Asia, where no market was spared a sweeping sell-off. Stocks in Shanghai, Tokyo, Seoul and Hong Kong dropped 4 percent or more in a punishing session of trading.

In Europe, major stock indexes fell less drastically ‘ by about 1.5 percent ‘ only because markets had already been on a downward trend for several months.

Futures markets that track the expected performance of stocks in the United States suggested the sell-off could continue.

‘The global economy and markets are in a delicate situation,’ said Carsten Brzeski, chief economist at ING Bank in Frankfurt. ‘While the status quo is still good, risks are increasing.’

In case you are keeping track:

China Shows Its Pull Selling Dollar Bonds in `Very Weak’ Market

[email protected]: ASX to open in the red as global markets slide

Global markets were shaken overnight by the global bound rout, setting up the ASX to open sharply lower this morning.

1. Bond-rout spreads: The global bond rout carried through the overnight session, though it must be said the selling pressure eased through-out the evening. The price action centred around a lot of catch-up in other sovereign bond markets, as traders realigned their positions to reflect the ongoing dynamic in US Treasuries.

Yields on 10 Year German Bunds were up around 5 points for the session, and 10 Year Gilts added over 9 points; while the BOJ (during Asian trade) signalled their comfort with slightly higher yields in the face of a weaker Yen, with 10 Year JGB yields floating to 0.15 per cent. The yield on benchmark 10 Year US Treasury burst through 3.20 per cent in early North American trade, before better sense prevailed and settled the yield slightly above the opening price of 3.18 per cent.

  • Publisher: The Sydney Morning Herald
  • Date: 2018-10-04T21:38:53+00:00
  • Author: Kyle Rodda
  • Twitter: @smh
  • Citation: Web link

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Turkey went on a building spree as its economy boomed. Now the frenzy is crashing to a halt.

ISTANBUL ‘ Inside the Ozdilek Park mall, Dogukan Altin arrives for his shift at a men’s clothing store. Today is a national holiday and almost everyone has the day off. But almost no one has come to Ozdilek.

‘It’s generally just empty. There’s too many malls,’ says Altin, 34, sporting a close-cropped beard along with a dark tie and white shirt. ‘Because there’s three malls right next to each other, none of them make any money.’

The redundant shopping centers, on a main street in the Levent business district, symbolize Turkey’s deeply unbalanced economy.

FTSE 100 slumps again with bond yields in focus; US jobs data misses forecasts

FTSE 100 closed firmly in the red Friday as sterling gained and US stocks tumbled and miners took a hit.

The UK blue – chip index finished down 99.8′ points at 7,318, while FTSE 250 was also lower – off 170 points at 19,918.

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The UK pound is up 0.62% against the Euro at the time of writing, while it is’ up 0.57% against the US dollar.

Fiona Cincotta, senior market analyst at City Index, said: “The FTSE is looking as if it could revisit the dip in mid-September if the current selloff continues.

“The London share index clocked a 1.15% decline Friday, more than most other European and US indices, as the selloff in US government paper continues.

  • Publisher: Proactiveinvestors UK
  • Twitter: @proactive_uk
  • Citation: Web link

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18 Great Things to Do in Tucson This Weekend: Oct. 5

SAHBA Home & Garden Show. You want a new pool, a chance to look at new driveway and garage options or a sampling of kitchen and bathroom remodeling ideas? How about just some wall art, lotion or candles? You definitely want to buy a pool if you’re living in Tucson, right? You can get all of this and more at the SAHBA Home Show, where dreams become reality and bland living rooms

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Fashion! General contracting! Landscaping, solar and wrought iron! Financial services to help you figure out how to pay for all of it! 10 a.m. to 6 p.m. Friday, Oct. 5 and Saturday, Oct. 6 and 10 a.m. to 5 p.m. Sunday, Oct. 7. Tucson Community Center, 260 S Church Ave. $8 adults, free for kids 12 and under, discounts for military and seniors. Check for a $2-off coupon. Details Here.

  • Publisher: Tucson Weekly
  • Author: Brianna Lewis
  • Twitter: @tucsonweekly
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