Miners rally though, despite the falls, lead by carmakers and retailers
We’re taking a helluva beating! Shares in Japan were deposed from their records, scored in the beginning of the week.
Pretty same bleak picture in Europe where shares continue with the biggest drop since August, scored on Thursday. Carmakers and retailers lead the retreat, but miners scored a bit better, which could be owed to the pause in the materials rout.
One of the worst performers though was Leonardo SpA. It plunged after cutting it’s sales forecasts. Oil kept above 57 buck a barrel.
Global shares reached historic heights in the beginning of the week as synchronised growth coincided with speculation of a meaningful tax reform in the US. Alas, so far to no avail.
Healthcare and energy shares in S&P took some hits, gettin the whole index to fall back
Third red day for US indices in a row… US stocks limped to the finish line of the week, posting a decline. Volatility made an unexpected return to the markets.
Can you imagine: The S&P 500 made it’s first weekly retreat since early September… You can kinda guess it was coming to ‘im. Let’s hope it ain’t here to stay.
Among the key culprits are healthcare and energy stocks. The former are wondering how to approach Amazon as a potential competitor. The latter are stuck with oil below 57 buck and strife in the Middle East.
On the other side of the pond, carmakers got the Stoxx Europe 600 to it’s biggest two-day drop since August. Most of the industry sectors there declined.
Stocks in Asia fell as well. But just before that they got up to a rally that hit 2-year highs.