Overseas Trading: Europe, Asia Slide; Nikkei Hits Bear Market

Sliding crude prices and currency concerns have led to a global sell-off

by Josh Selway

Published on Jan 20, 2016 at 8:40 AM

A day after bourses enjoyed strong data-induced gains, things turned ugly again in Asia as oil futures explored new 12-year lows beneath $28 per barrel. Most notably, Japan's Nikkei fell 3.7% to officially enter bear-market territory. Also worrying investors was a reduced global growth forecast from the International Monetary Fund (IMF), on top of currency concerns, resulting in a 3.8% loss for the Hang Seng index. China's Shanghai Composite dropped just over 1%, with the People's Bank of China (PBOC) stating it plans to add over 600 billion yuan to financial markets by early next month. In South Korea, the Kospi fell by 2.3%. 

The sell-off is extending to Europe, with stocks flirting with new annual lows. At last check, France's CAC 40 was off 3.3%, London's FTSE 100 was down 3.1%, and in Germany, the DAX had given back 2.9%. 


160120OS




A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!


  
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


Huge New Legal Marijuana Market Has Shortage Crisis
250 million Europeans have access to medical marijuana. There's already a shortage....
J M Smucker Stock Jammed by Ugly Sales Outlook
J M Smucker's fourth-quarter profits and revenue were better than Wall Street expected
NIO Rises on Record-Breaking Deliveries
Nio stock hit a record high in vehicle deliveries for May
The Next Big Player in U.S. MJ Boom
Most pure-play marijuana stocks in the U.S. trade on the Over-the-Counter stock exchange.