Daily Market Update
with JJ Kinahan

5 min read

Worry Starts To Grow Amid Geopolitical Rumblings, Earnings Misses

(Thursday Market Close) Geopolitics stormed back into the picture in a big way Thursday, helping to wipe out much of the market’s recent comeback and raising new concern about whether the recent softness might end up getting more prolonged. There’s a little more worry creeping into the market than there was a week ago.

Today’s losses seem a little more foundational than last week, when a lot of the sell-off likely reflected profit taking. This time, bad news from all over the world and even from U.S. earnings reports ganged up to send major indices down 1.2% to 2%, back to levels not far from last week’s lows. Nasdaq (COMP) got the worst of it, falling more than 2%, while the other major indices fell more than 1% but finished off their mid-session lows.

Some Context

In the face of these losses, it’s important to keep things in perspective. From a percentage basis, the losses over the last week aren’t incredibly huge. Sometimes people see the big losses in the Dow Jones Industrial Average ($DJI) and blow them out of proportion. The moves aren’t that outrageous, but the raw numbers are big compared with 10 or 15 years ago. Also, some technical support does appe

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Daily Market Update

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