All the official explanations avoid mentioning politicai events in the United States as a cause for this ‘correction’. According to them nothing is happening.
So they have to look for another ‘explanation’
Global markets remain volatile as week of drama comes to a close
Dow, S&P 500 and Nasdaq Composite recover some ground after fierce sell-off
9 February, 2018
London’s FTSE 100 slipped on Friday after yet another fierce sell-off across US and Asian stocks, fuelled by concerns that global interest rates may rise faster than previously expected.
The UK’s benchmark stock index ended the session down around 1.3 per cent having already suffered a more than 1 per cent fall on Thursday after the Bank of England held interest rates steady at its regular policy meeting but indicated that they may rise again soon.
That sent the pound sharply higher, which in turn weighed on equities. A vast proportion of FTSE 100 revenue is generated outside of the UK, meaning that a strong pound tends to send the index lower.
Elsewhere, China’s main stock index fell by just over 4 per cent on Friday after the US’s Dow Jones Industrial Average declined 4.1 per cent on Thursday and the S&P 500 lost 3.7 per cent. Earlier in the week the Dow was hit by a record 1,175-point loss triggered by better than expected US jobs data that sent US bond yields higher as it introduced the prospect of higher inflation.
On Friday, however, the US indices showed signs of tentatively stabilising.
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