Wild ride continues at Wall Street

Prompted by a global market selloff

After a volatile day of trading prompted by a global market selloff, Wall Street continued to be volatile throughout the day with major indexes in Asia and Europe also affected.

At the time of writing, the Dow was down 0.31 per cent to 24,269.69. The Nasdaq and S&P 500 were both down again after trading more than one per cent higher earlier today.

Investors remain fearful over the prospect of rising interest rates, which could bring an end to the bullish market.

Earlier today, markets in Germany, France, Italy and Spain were all down by more than 3 per cent. London’s FTSE 100 also lost 3.5 per cent, “with every constituent falling and financial stocks hit hardest at the sector level”, according to the Financial Times. It lifted slightly after US markets opened, trading down 1.98 per cent.

Yesterday, Wall Street suffered its worst percentage fall since August 2011 when Dow Jones dropped as much as 6.2 per cent in the trading last night.

The White House also admitted that it was worried. ‘We’re always concerned when the market loses any value, but we’re also confident in the economy’s fundamentals,’ an official stated yesterday.


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