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US Markets close in red; Asian markets mixed

January 9th, 2008

The US Stock Markets closed in the red. NASDAQ is down by 58 points. Dow Jones Industrial Average is down by about 238 points. S&P 500 is down 25 points while the NASDAQ 100 is down by over 2.41% slipping 47.11 points. This is the 8th day that NASDAQ is falling. Much of the downfall is attributed to the financial sector stocks. Even the heavy weight blue chip stocks felt the heat today. American Express Co. (AXP) down 2.9%, Citigroup Inc. is down 4%, and J.P. Morgan Chase (JPM) fell by 4%. Countrywide Financial Corp is the biggest loser with a drop of 17%.

on the other hand, the Asian markets opened in the red and took a recovery route though the markets are currently trading marginally in the red. All Ordinaries, Hang Seng, Nikkei 225, NZSE 50, Straits Times, Seoul Composite are all marginally in the red and taking a recovery course. Shanghai Composite, Jakarta Composite, KLSE Composite and Taiwan Weighted are in the green. The Japanese Government Bonds have hit a 1 month high.

Entry Filed under: Equity Markets, Global Markets