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Aug 24, 2015

China share plunge smacks world markets; S&P, Nasdaq in correction

NEW YORK, Aug 24 (Reuters) – A near-9 percent dive in China
shares sent world stocks and commodity prices tumbling on
Monday, and U.S. stocks ended a volatile day with the S&P 500
and Nasdaq composite indexes sliding into correction territory.

After dropping more than 1,000 points, or almost 7 percent,
at Wall Street’s open, the Dow Jones industrial average
cut its losses but still finished down 3.6 percent. The Standard
& Poor’s 500 index closed down 3.9 percent for the day
and was 11 percent lower than its May record high.

Aug 24, 2015

China stock plunge smacks global shares, U.S. stocks dive

NEW YORK, Aug 24 (Reuters) – World stock markets plunged on
Monday after a near-9 percent dive in China shares and a tumble
in oil prices, while U.S. stocks were on track to end the day
with steep losses even after a striking comeback in a volatile
day.

After dropping more than 1,000 points, or almost 7 percent,
at Wall Street’s open, the Dow Jones industrial average
cut losses but was still off almost 4 percent in afternoon
trading. The Standard & Poor’s 500 index was down 4
percent and appeared to be on track for correction territory, or
a 10-percent drop from its May record high.

Aug 24, 2015

China stock plunge hits world markets, but U.S. stocks stabilize

NEW YORK, Aug 24 (Reuters) – World stock markets plunged on
Monday after a near-9 percent dive in China shares, but
commodities and the dollar pared losses and U.S. stocks staged a
striking comeback in a volatile session after European markets
closed.

After dropping more than 1,000 points, or almost 7 percent,
at Wall Street’s open, the Dow Jones industrial average
eased losses and was off less than 2 percent in afternoon
trading. The benchmark Standard & Poor’s 500 index was
down 2 percent after earlier approaching correction territory,
or 10 percent off its record high.

Aug 24, 2015

China stock plunge hits world stocks, dollar; U.S. stabilizes

NEW YORK, Aug 24 (Reuters) – World stock markets plunged on
Monday, after a near 9 percent dive in China shares and a sharp
drop in the dollar and major commodities sent investors rushing
for the exits.

After dropping more than 1,000 points, or almost 7 percent,
at Wall Street’s open, the Dow Jones industrial average
eased losses but was still off more than 1 percent at midday.
The Standard & Poor’s 500 index was down by a similar
margin after the U.S. benchmark earlier dropped nearly 10
percent below its record.

Aug 24, 2015

Great fall of China sinks world stocks, dollar

NEW YORK (Reuters) – World stock markets plunged on Monday, as a near 9-percent dive in China shares and a sharp drop in the dollar and major commodities sent investors rushing for the exit.

The Dow Jones Industrial Average dropped more than 1,000 points as Wall Street opened, and the benchmark Standard & Poor’s 500 index slid more than 2.5 percent, a drop that puts it nearly 10 percent below its record high.

Aug 8, 2015

Shipping: Oil tankers sheltered from gas, dry bulk weakness

By Sinead Carew

(Reuters) – Maritime stocks have broadly fallen this year as weak demand for some commodities and goods in Asia and oversupply of ships have hurt much of the industry, with one notable exception: Oil tankers have been doing a booming business and their shares are up as much as 50 percent year to date.

Growth in oil tanker shares can run a bit longer, analysts and investors say, though they see weakness in dry bulk, liquid natural gas and container shipping extending into 2016 or beyond.

Aug 7, 2015

Wall St Week Ahead-Shipping: Oil tankers sheltered from gas, dry bulk weakness

Aug 7 (Reuters) – Maritime stocks have broadly fallen this
year as weak demand for some commodities and goods in Asia and
oversupply of ships have hurt much of the industry, with one
notable exception: Oil tankers have been doing a booming
business and their shares are up as much as 50 percent year to
date.

Growth in oil tanker shares can run a bit longer, analysts
and investors say, though they see weakness in dry bulk, liquid
natural gas and container shipping extending into 2016 or
beyond.

Jul 24, 2015

Energy sector may prove expensive even if results beat estimates

By Sinead Carew

(Reuters) – The battered energy sector may begin to brighten a little as companies report second-quarter results, but barring a big increase in the price of oil, the sector won’t be able to sustain even current share prices going forward, analysts and investors say.

Oil prices have fallen at a much steeper clip than energy shares in the 13 months since June 23, 2014 – when oil prices hit a nine-month peak – keeping valuations high even as share prices have plunged. The S&P energy sector .SPNY has fallen about 30 percent since then while oil prices have fallen 50 percent.

Jul 24, 2015

Wall St Week Ahead-Energy sector may prove expensive even if results beat estimates

July 24 (Reuters) – The battered energy sector may begin to
brighten a little as companies report second-quarter results,
but barring a big increase in the price of oil, the sector won’t
be able to sustain even current share prices going forward,
analysts and investors say.

Oil prices have fallen at a much steeper clip than energy
shares in the 13 months since June 23, 2014 – when oil prices
hit a nine-month peak – keeping valuations high even as share
prices have plunged. The S&P energy sector has fallen
about 30 percent since then while oil prices have fallen 50
percent.

Jul 9, 2015

REIT rate hike fallout fears may be overdone

By Sinead Carew and Chuck Mikolajczak

(Reuters) – After a meteoric rise in 2014, shares in many real estate investment trusts (REITs) have crashed back to earth this year as the market braces for a U.S. interest rate hike, but the reversal in sentiment may have gone too far.

REIT shares peaked at the end of January, and have fallen 12.3 percent since on fears that the Federal Reserve’s first interest rate hike in years could hurt the sector. Rising rates increase the costs for REITs that have to borrow heavily for new investments. Furthermore, yield-hungry investors who buy REITs for their high dividends during times of low bond yields often abandon them once bond yields start to rise.

    • About Sinead

      "Sinead is a telecommunications industry correspondent. Her coverage area spans U.S. service providers, cellphone makers and chip makers. Before joining Reuters in 2002, she covered technology and telecoms for various trade publications."
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