World stock markets headed south today, beginning with Tokyo's Nikkei Index, down a mere 0.37%. Shanghai lost 0.81%, and European markets added onto that, down over 1%.
Oil prices continue to be a big concern, and after negative comments by Iran and Saudi Arabia, prices dropped sharply. Near the close, US oil futures were down 5%, after being up earlier in the session.
News of solid home prices supported US markets, but that was offset by the worst consumer confidence numbers in 7 months. Added to oil's woes and out of breath after an 800 point Dow run in a couple of weeks, stocks gave in to bearish forces. The big three US indices are all down more than 1% as the closing bell approaches.
Gold showed good strength today, as world economic problems are more and more seen as positive for the yellow metal and its little buddies. Remember when weak ... Log in or subscribe to continue reading.