From stocks to oil, everything's falling today as global rout deepens

Traders on the floor of the New York Stock Exchange yesterday as the Dow closed down by 4.6 per cent

Traders on the floor of the New York Stock Exchange yesterday as the Dow closed down by 4.6 per cent

'With other central banks winding down their quantitative easing policies, investors are worrying about the end of the cheap money era which has underpinned market confidence and valuations over the past few years, ' says Scott. Meanwhile, perceived safe havens - including the Japanese yen and Swiss franc - drew demand amid the turmoil. The recent rout has wiped about US$4 trillion (RM15.6 trillion) off world equities.

The only positive sign for now is that USA futures are in the green zone on Friday morning.

However, signs that Wall Street will stabilize when it opens later helped ease the selling pressure during European trading hours.

The Dow Jones industrial average jumped as much as 350 points in morning trading, erasing an early plunge of more than 500.

All major indexes in Europe fell: the UK's FTSE 100 dropped 1 per cent, France's CAC 40 0.8 per cent and Germany's DAX 0.6 per cent. It will most likely follow the regional and global trend.

"Seemingly the only hope for the markets at the moment is that investors suddenly decide that the sell-off has been a bit overdone", said Connor Campbell, a financial analyst at Spreadex. When bond yields rise, those stocks become less appealing to investors seeking income. The ASX 200 fell 3.20 percent, the Shanghai Composite was down 3.38 percent and South Korea's Kospi was 1.54 percent lower just before the closing bell. "But the fundamentals of this economy are very strong and they're headed in the right direction". It's down 83.48 points, or 5.4 per cent, for the week.

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The wild swings Tuesday marked the third day of volatility in global markets.

United States equities suffered its second sell-off in a week to hit 2018-lows with the Dow Jones and S&P 500 both entering what is deemed correction territory.

Japan's Nikkei 225 index skidded 6.1 percent to 21,296.03 by early Tuesday afternoon.

FedExFDX.N and UPS UPS.N dropped more than 1 percent after the Wall Street Journal reported Amazon.com IncAMZN.O will be launching its own delivery service. German 30-year yields rose to two-year highs at 1.429 per cent. Falls like this have not been registered since August 2011 when investors were fretting over Europe's debt crisis and the debt ceiling impasse in Washington that prompted a USA credit rating downgrade. The Nasdaq has lost 9.7 percent of its value in the same span, falling short of the 10 percent threshold that defines a stock correction. DXY last rose 0.05 percent, with the euro up 0.19 percent to $1.239.

Friday's US payrolls report showed wages growing at their fastest pace in more than eight years, fueling expectations for both inflation and interest rates would rise more than previously forecast.

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