Dow plunges more than 800 points in worst drop since February, Amazon and tech shares lead the rout
- The tech sector had its worst day in seven years, leading the Dow to its worst day in eight months.
- “People are getting out of the high-flying tech names right now,” says Larry Benedict, CEO of The Opportunistic Trader. “I think people are under-hedged; there could be more pain ahead.” Read More @ https://www.cnbc.com/2018/10/10/us-markets-bond-yields-and-data-in-focus.html
Trump says the Federal Reserve has ‘gone crazy’ by continuing to raise interest rates
- “I think the Fed is making a mistake. They are so tight. I think the Fed has gone crazy,” the president said after walking off Air Force One in Erie, Pennsylvania.
- The U.S. central bank has raised interest rates three times this year and is largely expected to hike once more before year-end.
- Fears about rapidly rising rates helped cause the Dow Jones Industrial Average to drop more than 800 points Wednesday.
- “Actually, it’s a correction that we’ve been waiting for for a long time, but I really disagree with what the Fed is doing,” the President added. Read More @ https://www.cnbc.com/2018/10/10/trump-says-the-federal-reserve-has-gone-crazy.html
TRADE WAR CONTINUES – Mnuchin warns China against devaluing currency, says yuan agreement must be part of trade deal
- Treasury Secretary Steven Mnuchin tells the Financial Times he wants to include an agreement on currency in the China trade deal.
- “The renminbi has depreciated significantly during the year,” he said. “We are going to absolutely want to make sure that as part of any trade understanding we come to that currency has to be part of that.” Read More @ https://www.cnbc.com/2018/10/10/mnuchin-warns-china-against-weakening-its-currency.html
WHAT IS THE PSEI CHART SAYING TODAY? – MORE FALLS AHEAD.
We are expecting the PSEI to fall to 6000 before bargain hunting starts – be patient and don’t rush into the market. Remember buying Stocks is like buying an Asset – you need to catch the right price!!
WHAT IS BARGAIN HUNTING?
Investors often fall prey to value traps when they go hunting for a bargain. These “bargain” stocks may appear promising, but at the end of the day they are a big letdown for investors and they don’t go anywhere. In my next this article, we’ll show you how to hunt down a valuable stock without getting stuck in a value trap. – meantime be patient.
For more information on how to trade the Philippine Stock Exchange please do call the following centres:
- Sharon (Mindanao Team) – +639176511344
- Jonyrl (Visayas Team) – +63917 – 7770757
- Sarry (Luzon Team) – 310-0195
If you parents are poor I can understand but if your children are poor there is no reason – Ashok.
Article by: Ashok