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The Dollar Strengthens Slightly; Dow, NASDAQ & S&P 500 Plunge

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The Dollar Strengthens Slightly; Dow, NASDAQ & S&P 500 Plunge

January 14
14:56 2014

asian shares.jpg 1Tokyo, Tuesday, January 14 – More than a few Asian stock markets went down on January 14, being guided by Japan, for the reason that investors got their indications from a large sell-off in the United States.

With the key benchmarks all plunging in excess of 1 percent, US stocks had their most terrible day until now in 2014. At the same time as a few analysts blamed brutal winter and recognized that one feeble month doesn’t set a trend, self-belief among investors was weakened by a pathetic US job report that was released a week earlier.

Investors fear that outlooks for additional profits may be inadequate in the short-term subsequent to solid augment in stock markets in 2013. With the Nikkei 225 plunging by 2.4 percent to 15,522.79, stocks of Japan continued trading post a holiday on January 13.

Apart from benchmark Shanghai Composite Index of China that toted up 0.6 percent to 2,020.94, Hang Seng of Hong Kong, Kospi of Seoul and S&P/ASX 200 of Australia skidded. The first two slipped by 0.2 percent to 22,850.88 and to 1,945.96, respectively, while the latter one plummeted by 1.5 percent to 5,214.10.

The Federal Reserve has stated that it will make a preliminary $10 billion slash to its $85 billion of monthly bond buying that have held financial upturn by maintaining interest rates low. By 1.1 percent, the Dow Jones industrial average descended to 16,257.94 on the first working day of this week. Story was no different for the NASDAQ composite, which skidded to 4,113.30 by 1.5 percent. By 1.3 percent, the Standard & Poor’s 500 went down to 1,819.20.

On one hand, in electronic trading on the New York Mercantile Exchange, benchmark crude for delivery in the coming month was higher by 20 cents to reach at $92, while on the other hand, by 92 cents, the contract slipped to end at $91.80 the previous day. During the evening hours trading yesterday, the greenback reinforced a little bit from 103.21 yen to 103.38 yen.

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