In this mad, mad world of interest rates and oil up one day, down the next, we have another big down day today, following yesterday's big up day, which in turn followed Friday's BIG down day. Today it's ostensibly about oil, with the latest demand figures down and crude itself dropping nearly 3%. Is that enough to explain European and US bourses falling out of bed? As you'll read below, I suspect there may be more to this market than just interest rate and oil price changes.
The Global Dow index lost 1.36%, and US indices look like they'll end up in that same general area. A few minutes before closing time, the Dow Industrials are down 250 points. The precious metals aren't having a good day either; gold is down $9, silver and platinum down 22 - cents and dollars, respectively. Mining shares, according to XAU, are down 5%. ... Log in or subscribe to continue reading.