GLOBAL PLUNGE
Joe Weisenthal and Myles Udland
BusinessInsider.com
Oct. 10. 2014
The global market plunge continues.
On Thursday we saw the Dow give up more than 300 points, and markets around the world took the lead from the US overnight.
In Asia, Hong Kong’s Hang Seng fell 1.9%, while Japan’s Nikkei index lost more than 1%.
In Europe, stocks are red across the board.
The DAX in Germany is seeing the biggest losses, currently down about 1.7%, while stocks in London and Paris are both down more than 0.8%.
In the US, stocks opened mixed, but have turned lower, with the Dow down about a point, the S&P 500 down 6 points, and the Nasdaq is down 48 points.
And while stocks have made a bit of a rebound over the last couple hours, oil has has had no such luck, as oil is still trading well below $85 a barrel and has now entered a bear market after falling more than 20% from its high earlier this summer.
On Friday, traders and market watchers are looking at a number of technical indicators, with UBS’ Art Cashin noting that if the S&P 500 breaks below 1,925, it could “cascade” towards 1,900 or 1,905.
