Consecutive decline in U.S. stock, S&P 500 also enters in Bear Market
American Stock Exchange is now entirely in terms of the bear market, after both main index fell by over 20 percent from October onwards. Reason for sales made to each dark forecasts of the impact of the mortgage crisis on the profits of banks and financial system as a whole. Shares of financial companies celebrated their biggest decline for the last six years, the index, tracking their performance, fell by 5.2 percent.
During the session yesterday the broad index S&P 500 decreased by 2.3 percent to 1 244.69 points. This is the lowest level of the index for the past two years and is 20 percent below the measured record levels in October. The other main Dow Jones index gave up 2.1 percent with up to 11 147.44 points, an away 21 percent of its value in October.
Mortgage lenders Fannie Mae and Freddie Mac has gone to negative moods in the financial sector because of expectations that will take them over 70 billion dollars, to deal with problems. Their papers are cheaper by 13 per cent and 24 per cent and reached its lowest levels since 1992 onwards. Shares of Cisco Systems Inc. celebrated their biggest drop in September 2006 onwards, the market capitalization of Bank of America fell by 6.3 percent, that of Citigroup - to 5.5 percent, etc.
According to Bloomberg estimates of profits included in the S&P 500 companies recorded a decrease on average by 11 percent in the second quarter of the year. Particularly serious are expected to decline in the financial sector - 60 percent.
Fifth consecutive decline for exchanges in Asia Mass panic scope and exchanges in Eastern Europe 2008 - year of the bear market, world drop in economic growth Exchanges in Asia red again. New bankruptcy among Japanese companies in construction sector and lower ratings representatives of regional economy Dow Jones wiped their initial gains U.S. shares of the green, S&P 500 by 10 percent weekly rise Red start of the month for Asian markets High jump in the markets in the U.S. with substantial growth The euro board to new peaks Record stock market falls in 2008 The data on employment pressed U.S. state indices, the serial drama data on the labor market in the U.S. What not to buy in a bear market New tumbled in sales of cars in Europe U.S. shares erased their initial gains. The outlook for long-term credit rating of Russia is “negative” and Gold-currency reserves of Russia decreased by 50 billion dollars Real estate market in Spain from stagnation to decline The price of oil to a record for the last 17 years fall Exchanges in Romania, Austria, Iceland and Ukraine stopped trading Inflation in Europe at lower level than nine months. Europe is in recession officially Oil remained at low levels to the limit of 100 dollars The bear market goes global Expect to 30% decline in housing prices in Spain Shares of the week - storms Wells Fargo & Co. Auctions of stock and commodity markets have supported gold US new home sales at 17-year-low Hong Kong creates a market for servicing China The euro fell against the U.S. dollar. Avoid the currencies set a high income under pressure Google disappoints the market despite the 35% growth in profits for quarter Over 80 percent of Russian companies feel threatened by financial crisis Price of oil will not stop - marks a record after record A solid fund for a shaky market Australia with the weak economic growth of eight years Housing market sees another fall Bernanke: Inflation will be reduced Dynamic week of oil market Another bank failure in U.S. The Bank Silver State closed its banking business Japan’s industrial output plunges Online web searches in October AAA sees holiday travel decline Bought Subdivisions and of Lehman in Europe and the Middle East ‘08 stock picks: How low can they go? Taking stock Oil ended the week with a drop of over 11 percent Stock mutual funds take in $10.4 billion Merrill Lynch strongly disappointed investors off assets for $ 9.4 billion dollars Strong data on the labour market in Germany Daimler refuses to buy Chrysler Credit 2008: Year of the freeze The Federal Reserve reduced the basic rate Middle East oil fell to 122.10 dollars for a barrel Lehman Brothers bankruptcy