Global Markets Mixed After Big Sell-Off

Following last night's surprise event, which was China's HSBC PMI dropping into contraction territory for the first time since July, which in turn sent Asian market into a tailspin, the most relevant underreported news was a speech by International Monetary Fund Deputy Managing Director Naoyuki Shinohara who said that "As long as steady progress is being made toward the 2% target, we do not see a need for additional monetary accommodation in Japan." He added that while exit from unconventional monetary policy "is still very likely some way off for the euro area and Japan, I

Starting with the Asian markets this morning, it appear the roller coaster ride for markets continued overnight. Asian equities started the day trading weaker but shortly after the open though, all of Asia bounced off the lows following the previously noted surge in Chinese A-shares soaring more than 5% in a matter of minutes in what was initially described as a potential “fat finger” incident.

Once again it is all about central banks, with early negative sentiment heading into Asian trading - following the disappointing announcement from the PBOC about "ample liquidity" leading to the 6th consecutive drop in the Shanghai Composite while the PenNikkeiStock index tumbled yet again -  completely erased and flipped as Mario Draghi spoke, although not to explain his involvement with the latest European derivative window-dressing scandal, but

To some, today is Martin Luther King day and as a result the US markets are closed, especially since today is also the day when Obama celebrates his second inauguration with Beyonce, Kelly Clarkson and James Taylor at his side (hopefully not on the taxpayers' dime).

US equity index futures suggested a lower Wall Street opening on Wednesday as investors looked to earnings reports and data on durable goods orders to gauge the economic outlook

US equity index futures suggested a lower Wall Street opening on Wednesday as investors looked to earnings reports and data on durable goods orders to gauge the economic outlook

Equitymaster submits: After being mired in losses for four consecutive days, Indian stock markets languished in the red in today's trading session as well. Although the morning session saw some attempts being made to push into the positive, these proved futile as the indices closed well into the red in the final trading hour. While the BSE-Sensex closed lower by around 156 points (down 0.8%), the NSE-Nifty closed lower by around 36 points (down 0.6%).