Asian markets struggled to reverse their sickening slide today, but failed, as Japanese and Chinese markets added a couple more percentage points on the downside.
In Europe, however, signs of further monetary easing sent the euro lower, but stock prices higher. The STOXX 600 gained nearly 2% on the day.
As for the US, the expected bounce off of the summer's lows sent stock prices higher, aided by a big rally in the beleaguered oil market. Coming into the close, the Dow is up about 1%. Crude traded above $30/bbl., although it is having trouble staying there.
Gold and silver finished about unchanged. The mining shares were able to move higher on the day after trading quite a bit lower in the morning.
A Negative and Fearful Davos
By Benjamin J. Butler
South Korea but vicariously at Davos…
Truth be told, this is the most negative, fearful environment I’ve experienced at Davos since 2009, right after the financial crisis hit. But it ... Log in or subscribe to continue reading.