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 Exchanges in Asia red again. New bankruptcy among Japanese companies in construction sector and lower ratings representatives of regional economy 2008 - year of the bear market, world drop in economic growth Dow Jones wiped their initial gains Red start of the month for Asian markets U.S. shares of the green, S&P 500 by 10 percent weekly rise High jump in the markets in the U.S. with substantial growth The euro board to new peaks New tumbled in sales of cars in Europe 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. 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 What not to buy in a bear market Exchanges in Romania, Austria, Iceland and Ukraine stopped trading The price of oil to a record for the last 17 years fall Inflation in Europe at lower level than nine months. Europe is in recession officially China’s exports in record decline US finance stocks decline sharply Oil remained at low levels to the limit of 100 dollars Real estate market in Spain from stagnation to decline China’s exports see sharp decline Shares of the week - storms Wells Fargo & Co. The bear market goes global Expect to 30% decline in housing prices in Spain Auctions of stock and commodity markets have supported gold The euro fell against the U.S. dollar. Avoid the currencies set a high income under pressure Over 80 percent of Russian companies feel threatened by financial crisis Killer car deals out there…somewhere US new home sales at 17-year-low Hong Kong creates a market for servicing China Price of oil will not stop - marks a record after record Australia with the weak economic growth of eight years Google disappoints the market despite the 35% growth in profits for quarter US ‘renews’ Microsoft share probe Sharp decline in US retail sales Online web searches in October Bond prices fall Bernanke: Inflation will be reduced Danger: high levels of company stock Housing market sees another fall Bought Subdivisions and of Lehman in Europe and the Middle East A solid fund for a shaky market Oil ended the week with a drop of over 11 percent Debt prices keep falling Stock investment with a no-loss guarantee Another bank failure in U.S. The Bank Silver State closed its banking business Corporate gloom hits Tokyo shares Dynamic week of oil market Daimler refuses to buy Chrysler