S&P 500-2,043.81 Down 35.80(1.72%)
From Barron's Stocks to watch:
Stocks are crumbling today as concerns about the state of global growth continue to grow.
The S&P 500 has dropped 1.8% to 2,043.08 at 3:02 p.m. today, while the Dow Jones Industrial Average has fallen 300.17 points, or, 1.7%, to 17,048.56, its lowest since October 29.The Nasdaq Composite has tumbled 2.4% to 4,897.34, its biggest drop since June.
Evercore ISI’s Dennis DeBusschere and team offer a checklist of events that could slow the selloff in risk assets:...MORE
Risk-on market factors (cyclicals, value, higher beta) continue to make new lows and point to slowing economic growth and downside risk to the overall market. Unless emerging market currency pressures subside, our global growth checklist improves or the Fed swings to a more dovish stance than currently expected (pushing out hikes into sometime next year), equity markets should remain under pressure. Earnings growth is expected to accelerate in the U.S. and Europe in 2016, which has helped limit downside so far. Rest of world markets should remain under more pressure than the U.S.Capital Economics’ David Rees thinks the concerns about emerging markets are overblown:
…EM equities continued to tumble on Thursday. But taking a step back, we see at least four reasons not to get too carried away....
Broadest Measure of "US Equities Testing Major Support"