North American stock markets are expected to fall today following Tuesday’s rally following three consecutive days of deep losses. Asian markets were mostly positive overnight with the Hang Seng gaining more than 3 percent – European stock markets however, were mostly flat by the mid-point of the trading day.
By 9 am in New York, Dow futures were down 1.3 percent as was the S&P 500 futures index as traders prepare for what is expected to be another volatile day.
“We are clearly in an extremely volatile period here,” said Paul Mendelsohn, chief investment strategist at Windham Financial Services in Charlotte, Vermont. “There is a lot of money shifting, moving around in here, and that is just going to bring in tremendous volatility.”
Source: Reuters