Welcome

Thank you for visiting paducahsun.com, the online home of The Paducah Sun.

Calendar
June 2012
S M T W T F S
27 28 29 30 31 01 02

Click here to submit an event.

Stocks fall on emerging-market fears

Associated Press

NEW YORK - Stock markets fell across the globe on Monday, but at least it wasn't another rout on Wall Street.

Shaky economies and plunging currencies in the developing world fueled a worldwide sell-off as fearful investors pushed prices lower across Asia and Europe.

In the U.S. and other rich countries with healthier economies, investors also retreated, although the selling was more modest.

Major indexes in both Hong Kong and Tokyo fell more than 2 percent. The selling then spread to Europe and the U.S., as stocks slipped across the board, but the declines were much less than on Friday, when the American market ended its worst week since 2012.

Jack Ablin, chief investment officer at BMO Private Bank, said he wasn't surprised that the U.S. losses were limited.

"We have an accelerating economy, low inflation and accommodative monetary policy," he said. "The world isn't falling apart."

The Dow Jones industrial average slipped 41.23 points, or 0.26 percent, to 15,837.88. The Standard & Poor's 500 index fell 8.73 points, or 0.5 percent, to 1,781.56. The tech-heavy Nasdaq was down the most in the U.S., falling 44.56 points, or 1.1 percent, to 4,083.61.

The market turbulence was set off last week by a report from China on a downturn in its manufacturing, more evidence that the world's second-largest economy is slowing. That's a big problem for Brazil, South Africa and other developing countries that have come to depend on exports to that country.

Adding to the troubles: The decision by the U.S. Federal Reserve last month to scale back its bond-buying stimulus for the American economy, which has helped keep interest rates low. Money that had flooded emerging markets looking for higher returns outside the U.S. has begun to come back now that rates may rise, battering those markets.

Despite Monday's widespread selling, analysts say the troubles in China and elsewhere in the developing world are unlikely to derail a global economic recovery that appears to be gaining momentum. Growth in the world's wealthy economies is expected to pick up the slack.

Comments made about this article - 0 Total

Comment on this article

Your comment has been submitted for approval
captcha 43ab76f2d32b496395a6ac2796b78b19
Top Classifieds
  • HAPPY JACK® MITEX®: Kills ear ... Details
  • GREAT Dane puppies. Avail. 7/17. Wi ... Details
  • FREE: 1 yr. oldPit Bull270-627-3400. Details
  • UKC TOY RAT TERRIER pups, $175519-346 ... Details
  • HAVANESE PUPS AKC Home Raised, Best H ... Details
  • RUNNING, fixable, junk vehicles, equi ... Details
  • Farm AuctionSaturday, July 11th, 2015 ... Details
  • PILLOWTOP Mattress Sets, NEW in plast ... Details
  • '86 Conn, 68x14, 3 bdrm., 2 ful ... Details
  • 2445 HOLT ROADCommercial space, 800 s ... Details
  • Look @Our Website www.drakecreek.info Details
  • FAIRHURST BLDG.Office space available ... Details
  • 3BR, 1Ba, 251 Cedar Ln. Symsonia, KY ... Details
  • IGLOO - 21st and Old Mayfield Rd. Mu ... Details
  • SEEING is believing! Don't buy p ... Details
  • Gulf Stream Sun Voyager 2003 37 ft. V ... Details
  • JOE'S BACKHOESERVICE Install &am ... Details
This Week In Photos
Most Popular
  1. Ohio community seeks clues after 6 women vanish
  2. Carroll among policymakers at education conference
  3. Purchase sports memos
  1. Candidates invade 4th parades
  2. Appeal filed against Dollar General
  3. Panama drops out of Trump's pageant
  1. McDonald's: Fewer Happy Meal orders opting for soda
  2. Ohio community seeks clues after 6 women vanish
  3. Carroll among policymakers at education conference
Discussion

Check out these recently discussed stories and voice your opinion...