Saturday, 10 November 2018

Stocks fall, oil in bear market

Markets fell on Friday.

The S&P 500 fell 0.9 percent, the STOXX Europe 600 fell 0.4 percent and the Nikkei 225 fell 1.1 percent.

“Though the mid-term elections are over, worries that the U.S.-China trade war will drag on for the long term are lingering,” said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities.

Oil fell. West Texas Intermediate crude fell 1.7 percent, its ninth consecutive decline, leaving it 20.6 percent below its recent peak and in bear market territory.

“Oil being down could be a sign that the global economy is in a tough spot,” said Willie Delwiche, investment strategist at RW Baird.

And it is not just oil. Gasoline, copper and platinum have also been declining.

“When you get these signals, it's hard to see equities continue to move up on their own,” said Komal Sri-Kumar, president of Sri-Kumar Global Strategies.

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