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08 Febrero 2018, 07:45 | Azura Castelo
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Many in the markets had been anticipating some sort of correction following the steady gains over the past year or so, which have pushed some indexes, notably on Wall Street, to a series of record highs.
The Dow posted a 2.3 percent increase, its biggest daily percentage gain since Jan. 29, 2016, while the S&P 500 rose 1.7 percent, its biggest one-day gain since Nov. 7, 2016, the day before the election of Donald Trump as president.
U.S. stocks swooned Friday and Monday as investors worried that accelerating inflation and higher interest rates could derail the market's record-setting rally.
The pan-European FTSEurofirst 300 index rose 2.31 percent and MSCI's gauge of stocks across the globe gained 1.06 percent. Shares in London plunged for a sixth day and by the largest amount since the Brexit vote. Japan's Nikkei 225 index fell 2.55% on Monday, the biggest drop in 14 months.
However, some investors say the market is over-stretched in the context of rising bond yields as central banks withdraw their easy money policies of recent years. The Dow's 777-point plunge in September 2008 was equivalent to 7 percent, far bigger than Monday's decline.
Technology shares fell 1.0 per cent, dragging on the Nasdaq, while energy dropped 1.1 per cent as oil prices slumped. Investors who had bet on an extended period of market calm have been the worst affected. On Wall Street, it's the equivalent of giving someone a time out. Chancellor Angela Merkel's conservative Union bloc and the center-left Social Democrats are still in talks about extending their alliance of the past four years.
The Dow Jones industrial average fell as much as 567 points shortly after the opening bell, then jumped as much as 367 points in the first half-hour of trading.
Earlier in the day, European and Asian markets also fell. Historically, the stock market has gained 8 percent, on average, in a year. At the same time, the U.S. deficit is growing and would be bumped up even more by the Senate budget deal, if it passes Congress. "It's going to be a volatile ride for the next several trading sessions", said Chad Morganlander, portfolio manager at Washington Crossing Advisors in Florham Park, New Jersey. "So, whenever you get these big drops, it offers a great buying opportunity, especially a twenty percenter". That can help you benefit during times of volatility because when you regularly invest a set amount, you'll buy at varying price levels, and your purchase prices may average out to be lower than if you invested all at once.
The broader Standard & Poor's 500 index was down 5 points, or 0.2 percent, at 2,643. On Tuesday, major companies reported another round of strong profits, with General Motors, BP, Allergan, health-care companies and others beating analysts' expectations.
Analysts suggest that Monday's rout was caused by fears that the era of cheap money was drawing to a close with renewed inflationary pressures. The euro was trading at $1.2384.
Despite the turbulence, Tuesday's trading looked similar to the patterns that have shaped the market for the last year: investors bought companies that do well when economic growth is strongest.
Britain's FTSE 100 lost 1.5 percent while France's CAC 40 slid 1.5 percent.
"It's over in terms of the severe down move we've seen but reminds us that we're kind of in an aftershock phase", said Rick Meckler, president of investment firm LibertyView Capital Management.
Investment adviser Edward Yardeni, author of forthcoming book "Predicting the Markets", said there have been 60 panics in the bull market that dates to March 9, 2009.
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