S&P 500

[Iron]

According to the Telegraph:

'The S&P 500 has sunk below its closing low for the year, reached on August 8. It crossed that 1,119 points threshold a few minutes ago, and is currently trading at 1,108.55'.

And it's down 20% from its high this year...

Jeff

[superfrank]

Shares fall as Greece says it will miss deficit targets
http://www.bbc.co.uk/news/world-europe-15145292

Hardly a revelation that was it?! Greece is falling apart and doesn't stand a chance of meeting silly targets.

[Iron]

According to the Telegraph, 'Greece is also reportedly asking for the next bailout loans in mid-November, contradicting earlier claims that the country will run out of money this month'.

That news won't exactly fill the markets with confidence...

Jeff

[Iron]

The Telegraph reports that:

'The US stock market has gone into a bear market according to Reuters - the S&P 500 is down more than 20pc since its recent high on April 29'.

And it looks like the FTSE is heading for the same fate; the Telegraph also say that:

'The FTSE 100 high of this year was 6,091.33 in February, so that would mean it has to hit 4,879.06 to qualify as a bear market. It's currently at 4,924.26'.

Jeff

[superfrank]

most stock markets are very closely correlated so I don't see how you can say one is in a bear market and another not.

[Iron]

According to the Telegraph, 'the accepted definition of a bear market is a drop of 20pc over at least a two-month period'.

Jeff

most stock markets are very closely correlated so I don't see how you can say one is in a bear market and another not.

[superfrank]

load of old bolux!

[superfrank]

U.S. Stocks Jump as S&P 500 Gains 4.1% in Final Hour
http://www.bloomberg.com/news/2011-10-0 ... r-low.html

I caught a chunk of this on FDAX... when these sort of moves happen in the last hour you've just got to jump on board.

[Iron]

Well done!

The markets seem even crazier than usual lately, drifting and streaming heavily at the tiniest piece of news!

Jeffb