Market Routs Continue on Black MondayBy Lex Yaranu | Wednesday, August 26th, 2015
$490 billion! That is the value of the selloff that occurred on August 24, 2015 across stock markets, commodities markets and currency markets. Market players have heard the term Black Monday before, only that this year, Black Monday seems to have come very early.
– India’s stock exchange closed the day at levels not seen in seven years.
– The DOW fell 588 points, making this day the worst day of the year for the biggest American stock exchange.
– The South African Rand plunged to its lowest level ever against the US Dollar.
From Hong Kong to Cairo, Dubai to Mumbai, Saudi Arabia to Russia, the story is the same. Markets are now officially in panic mode. Once again we have been reminded that all takes for a jam-packed room to empty out in minutes in a state of utter confusion is for someone to scream “fire!” People have looked at the situation in China, the impact it has had on the Asian region and the commodities markets, and a few people have screamed fire. Now the panic seems to have caught on globally with the DOW entering its fifth losing day in a row. Each day seems to have been worse than the previous one. At a point, the Dow plunged 1,000 points on Black Monday trading, then recovered before losing ground again to close 588 points lower.
It is left for binary options traders to study the market events very closely as they cover all trading asset classes. These news crate trading opportunities, which the trader can capitalize on from advice given by the relevant professionals.Published in News & Analysis