Stock Market Set to Plummet at Start of September
August 31, 2009 by Hot Stocks To Buy · 1 Comment
Stocks usually perform poorly in September and from the looks of overseas markets and US futures, the market is set to start off September tumbling down.
Shanghai’s main index plummeted 5.7% (-163, 2,697) and the Hang Seng lost over 1.8%. In Tokyo the Nikkei 225 stock index was down .4% (-38, 10,495).
Currently the XETRA-DAX is trading down .85% (-47, 5,470) and the CAC-40 is down over .6% (-22, 3,671).
US Futures are down sharply:
- S&P 500 - 8.00
- NASDAQ - 14.25
- Dow Jones -67
The stock market looks to open down sharply, it will be a challenge for the market to fight off the early fall. Due to be released in today’s economic calendar is the Chicago PMI and Motor vehicle sales data.
