Even though it looked like the Market’s Tuesday performance was moving in the upward direction, it seems that charts continue to be in the red and the US Stock Markets Continue To Crash.
The price of crude oil continues to decline, trading at below $30 a barrel and bringing other stocks down with its decline.
The biggest loser at the moment seems to be Dow Jones favorite IBM. The S&P 500 as well didn’t perform as was forecast, falling by 2.5%.
CNBC reports that: More than 1,000 NYSE-listed stocks hit 52-week lows in the first 20 minutes of trading…
It seems that the falling prices of oil are taking its toll on investors as Markets are seeing performances that haven’t been this low since August 2014.
European markets as well are performing dismally, trading at least 3% lower.
Asian markets, too, seem to continuing last week’s bearish trend as the Nikkei closed down 3.7%.
Even though the Dow Jones was performing in the red, Goldman Sachs was performing better than expected. Nonetheless, their profits fell for this last quarter of the financial year.
Nearly 30 stocks declined for every advancer on the New York Stock Exchange, with an exchange volume of 346 million and a composite volume of nearly 1.5 billion in mid-morning trade.
For more on today’s market performance, visit CNBC.com.