David Kirkpatrick

October 23, 2008

Stocks still very volatile

Filed under: Business — Tags: , , , , , , , — David Kirkpatrick @ 2:00 pm

The markets are just crazy volatileright now. Anyone doing any serious trading has either a lot to gamble with, or just gets a sick thrill out of outrageous risk.

From the link:

Fears of a global recession slammed Wall Street on Wednesday. The Dow finished the session down 514 points – its seventh-worst point loss ever.

The glum mood, sparked by weak corporate profits and falling oil prices, hit global stocks. Major markets in Asia dropped. Japan’s Nikkei finished the session 2.5% lower. European shares also fell in Thursday afternoon trading.

The Labor Department’s weekly report on jobless claims gave investors another reason to be nervous. Claims rose 15,000, to 478,000, for the week ended Oct. 18, which was worse than expected. A consensus of economists surveyed by Briefing.com had expected claims to rise to 465,000.

RealtyTrac, an online marketer of foreclosed properties, added to the market malaise Thursday with a report showing that more than 81,000 homes were foreclosed in September.