Translated by Ollie Richardson for Fort Russ
8th January, 2016
The world market caused increased hysterics after the Dow Jones index at the beginning of the year reached a record low in the past 119 years, dropping more than five percent, reports CNN.
The index had lost 911 points, the worst figure since 1897. It was the worst four-day slump in the beginning of a year in the entire history of estimates, according to FactSet. The NASDAQ Index had fallen 6 per cent and was the worst in 16 years – since 2000.
“Investors started the year in a state of panic,” commented the head of investment advisory firm Yardeni Research to CNN on the stock market crash in the U.S. The deterioration in the U.S. stock market occurred on the background of the collapse of the stock market in China and the reduction of the Central Bank’s official rate of the Chinese currency to its lowest since August last year. Also, the drop in world oil prices caused a panic among market players causing a record low for the last 12 years.