Financial markets are starting 2016 on a bleak note and China is at the center of it.
Stocks crumbled around the world, with emerging markets falling the most since August, as slowing manufacturing triggered a selloff that halted equity trading in Shanghai. Asian currencies weakened with metals and credit markets, while bonds jumped and the yen rallied on demand for haven assets. Brent crude traded higher, rising as much as 3.3 percent after Saudi Arabia and Bahrain cut ties with Iran.
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The NYSE is currently down 303 in pre-market trading after dropping 179 points in the last trading session. Oil is up as stated above due to Middle East tensions precipitated by Saudi Arabia’s executions. Gold is up $10.00 $16.00 per ounce.
David DeGerolamo
