Good Heavens!! Dow Jones has gone crazy and in no time at all.Out of nowhere Dow Jones dipped 1000 points suddenly.Here is a chart demonstrating the sudden dip in Dow Jones
This sudden dip in the markets has evidently resulted from the growing economic troubles brewing in Europe with uncertainty about Greece adding fuel to the fire.Looks like the optimism about the economy recovering again has been void of any real substance. Banking systems in several European nations including Italy, Spain, Ireland, Portugal and Britain could be stung as sovereign debt woes intensify.
Can’t help sharing an amazing cartoon i saw today on the prevailing conditions with economic uncertainty in various European countries
Given the situation now, i doubt if things are really fixed.However, the DOW has recovered well and is making the journey back to the top.
Will NIFTY bear the brunt of the DOW Jones bloodbath?
As they say, bad news travels real fast. Even though the DOW JONES crash has been more knee-jerk than a continuing down-side, i wonder if the already struggling NIFTY will take the negative news in its stride and witness another day of decline.As it is, NIFTY has broken the 5100 levels already and given the situation of global markets right now, i doubt if NIFTY will be in any mood to show any upside.
It’s not DOW JONES alone which has seen a decline.All the major international indicies have seen a decline today with,
Hong Kong’s Hang Seng losing 1%
Japan’s Nikkei losing 3.3%
FTSE in London losing 1.5%
DAX in Frankfurt losing 0.8%
All in all, Friday has the all the makings of turning out to be painful day for the Indian Stock Markets
UPDATE: Looks like the dip was largely attributed to Trading Errors at a large firm. More details at Reuters. Thanks to @saithilak for the hat-tip
You think otherwise? Will NIFTY go against the tide and snap its losing streak