The US economy seems to be doing just fine, as the Institute for Supply Management services index rose to 54.5 in March, up from 53.4 in February. But it wasn't enough to overcome weakness and worry in Japan and Europe. Orders for Germany’s manufacturing sector, a key to Europe's economy, fell 1.2% in February instead of rising slightly as expected. And IMF director Lagarde urged world economies to start growing faster, or else risk nasty consequences for not doing so.
At day's end, Japanese stocks lost a heft 2.5%, just a shade less than Germany's DAX was down. US stocks fared better, giving up just 1%. Still, 130 points lower on the Dow catches one's attention, and the day's action points to lower prices in the US again tomorrow.
Gold and silver benefited once again as perceived safe havens, with gold finishing up $15 and silver gaining 22 cents. The mining shares ... Log in or subscribe to continue reading.