December 14th To 18th: A Week Of Reckoning For Global Stocks If The Fed Hikes Interest Rates?
Source - The Economic Collapse Blog
Are we about to witness
widespread panic in the global financial marketplace? This week is
shaping up to be an absolutely critical week for global stocks. Coming
into December, more than half of the 93 largest stock market indexes in
the world were down more than 10 percent year to date,
and last week stocks really started to slide all over the world. Here
in the United States, the Dow Jones Industrial Average is down about 600
points over the past week or so, and at this point it is down more than
1000 points from the peak of the market. That brings us to this week,
during which the Federal Reserve is expected to raise interest rates for
the very first time since the last financial crisis. If that happens,
that could potentially be enough to accelerate this “slide” into a
full-blown crash.
And just look at what is already
happening. Trading for stocks in the Middle East has opened for the
week, and we are already witnessing tremendous carnage…
Following Friday’s further free fall in crude oil prices, The Middle East is opening down notably. Abu Dhabi, Saudi, and Kuwait are lower; Israel is weak and UAE and Qatar are tumbling, but Dubai is worst for now. Dubai is down for the 6th day in a row (dropping over 3% – the most in a month) extending the opening losses to 2-year lows. The 11% drop in the last 6 days is the largest since the post-China-devaluation global stock collapse. Leading the losses are financial and property firms.
Things in Asia look very
troubling as well. As I write this, the Japanese market has just
opened, and the Nikkei is already down 508 points.
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