US Markets Take Sharp Dive; World Markets Follow

Details

Category: Business/Financial News

Published on Sunday, 03 August 2014 14:12

Written by Janet Walker

The Dow Jones Industrial continued its downward trend falling sharply over the past week unable to rebound from the previous week long tumble as a lackluster July jobs report did little to bolster investor confidence.

Matching the two week tease that sent the DOW soaring above 17,000, the DOW has now been on a nonstop two week slide, tumbling, losing 42% and 69.93 points by Friday's close.

Closing at 16, 493.57, the Bureau of Labor Statistics report released on Friday August 1, 2014 sent skittish investors on a selling spree spreading fear through the exchange resulting in a bloody cap to a abysmal week.

On Monday, July 28, 2014, the DOW opened at 16,946.59 and immediately dropped and never recovered throughout the week, plummeting to recent lows and continued the downward trend until the closing bell stopped the slide.

Tuesday, July 29, was no better and the remainder of the week left investors shaking their heads and holding their breath. The Friday close stopped the slide at 16,946.59, a somewhat better close then the previous week with a loss of only -69.93 and -0.42%.

Losers for the week included 3M (-0.78/-0.55%) with a closing price of $140.11 per share, Boeing Company (-0.10/-0.08%) with a closing price of $120.38 per share.  Exxon Mobile Corporation closed at $98.80 per share (-0.14/-0.14%), Microsoft Corp, (-0.29/-0.67%) at 42.87 per share and Ford closed down at $16.81 per share with a loss of (-0.21/-1.23%).

On the Watch list GE closed up at $26.46 per share, with a gain of (+0.20/+0.80%).

The NASDAQ fared better than the DOW fluctuating throughout the week. The July Job report did not infuse confidence in investors and Friday began down and the announcement added to the deflation and the NASDAQ stayed down closing at 4352.64. Although not as bad as the previous week, the NASDAQ closed down with a loss of -17.13/-0.39%.

The slide at the S&P 500 began on Tuesday and investors might as well gone home, as it never recovered tumbling, stumbling and falling on Tuesday, and sank throughout the remainder of week and closing at 1925.52 with a loss of (-5.52/-0.29%).

World Markets

The World Markets followed the U.S. Markets closely as investor, globally, are facing economic concerns over Israel/Gaza War and the U.S. July Jobs Report from the Bureau of Labor Statistic did little to bolster world market and investor confidence. With six of the ten major markets, closed last week with a loss, including the DOW, London FTSE 100, France CAC 40, IPC Mexico, DAX Germany, BSE Sensex India, all remained down for a second straight week. The three major Asian Market Indices also fell and closed down.

Nikkei 225

The Japanese Nikkei fell sharply from its recent upward trends. Falling steadily throughout the week, the Nikkei 225 closed at its lowest levels recently at 15,523.11 posting a loss of -97.66/0.63%.

FTSE 100

London Markets mirrored the U.S. Markets falling throughout the week closing at 6679.18 with a net loss of        -50.93/-0.76%.

Hang Seng Index

The Hong Kong Markets mirrored the global markets plummeting to recent lows and finished the week at 24532.43 with a net loss of -224.42/-0.91%.