Wall Street Got Off To Another Rocky Start

Market volatility

What is now being described as a "bloodbath", sudden turmoil gripped global markets triggered by the biggest ever one-day points fall in America's Dow Jones. That meant Tuesday was likely to be one of the most watched days on the markets in years.

Often referred to as the Dow, the Dow Jones Industrial Average or DJIA, is the oldest and most watched indices in the world, according to Investopedia.

The Dow was little changed at 24,334 as of 10:49 a.m.

The Nasdaq Composite added 139.40 points, or 2 per cent, to 7,106.93.

That following a surprise late rally on Wall Street last night that saw the Dow jump by 567 points - its biggest gain since Donald Trump was elected USA president.

The sell-off wiped out the Dow and S&P 500 gains for the year, and left the Nasdaq barely in positive territory for 2018.

Bond yields turned higher after a sharp drop Monday. That's less than the 10 percent drop that is known on Wall Street as a "correction".

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Peter Kenny, independent market strategist, said large investors probably led the rebound as they picked up beaten-down stocks when the Dow entered correction.

The volatility seen for most of the session came as traders seemed to question the near-term outlook for the markets.

About 11.5 billion shares changed hands in USA exchanges, well above the 7.6 billion daily average over the last 20 sessions.

The decline appears to have been touched off by Friday's unemployment report, which showed that wages grew significantly in January. This sends it directly to a four-year high. The dollar index last rose 0.13%, with the euro up 0.06% to $1.2384. Perhaps it lulled you into saving more and investing more - just in time for the market to stumble a bit. The rout then swept across Asia, with Hong Kong's Hang Seng Index down 4.2% and Japan's Nikkei slumping 4.7%.

The S&P energy index.SPNY was up more than 1 percent, led by Anadarko Petroleum's (APC.N) 5 percent gain and an uptick in oil prices.

WALL STREET: U.S. stocks saw a late surge that helped them regain nearly half their losses from the day before.

Stephen Schwarzman, the chairman and CEO of financial firm Blackstone, warned recently of a potential "reckoning" in markets. "When the feds start talking about raising interest rates like they have been doing for the past year it puts a damper on a lot of our expectations about how the economy is going to do I the next few years", said Nishimoto. Short-term corrections are also viewed by technical analysts to be inevitable as stocks trend upwards in a bull market.

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