Stocks took a decided turn to the downside today, with 17 out of the 19 major world markets and indices in the red on the Wall Street Journal’s website. It’s hard to put a finger on the cause or causes, though concerns about inflation (on both sides!), the latest on Mueller’s Russia investigation, and plain old profit taking were among the factors cited. In any event, the Asia Dow fell by 1.18%, and the STOXX 600 dropped 0.39% (though the Europe Dow slumped 1.45%). In the Americas, only Brazil’s exchange was higher.
The precious metals and crude oil had another tough day. West Texas Intermediate Crude (WTIC) gave up another 0.7% to $44.41/bbl. amid talk of US fracking boosting supplies and OPEC’s inability to counter that effectively. Gold lost $6, to $1255; silver fell by 12 cents to $16.80, and platinum dropped $13 to $924. Related stocks lost ground as well; ... Log in or subscribe to continue reading.