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21 Aug 2015
Wall Street plunges on Friday, worst week in years
FXStreet (Córdoba) - Stocks tumbled in the US on Friday and extended weekly losses. On Friday stocks worldwide dropped sharply. The weekly results stocks in the US was the worst in years.
Fears over global growth weighed on US stocks that continued to slide on Friday. The Dow Jones finished with a decline of 3.12% or 530 points, the Nasdaq plummeted 3.52% and the S&P 500 lost 3.18%. Considering Thursday decline, the Dow Jones suffered the worst 2-day slide since the financial crisis. Expectations that the Federal Reserve will not raise rates in September increased but did not help risk appetite.
Crude oil finished sharply lower again and lost 2.60% ending slightly above $40 a barrel. Gold rose further on Friday and finished the week with a gain of $50, near $1160 an ounce.
In the forex market, risk aversion favored the yen that rose pushing USD/JPY to 122.00 but the euro and the Swiss franc were the top performers. The Canadian dollar was the worst among commodity currencies while many Latin-American currencies reached record lows (MXN, COP) against the US dollar.
Fears over global growth weighed on US stocks that continued to slide on Friday. The Dow Jones finished with a decline of 3.12% or 530 points, the Nasdaq plummeted 3.52% and the S&P 500 lost 3.18%. Considering Thursday decline, the Dow Jones suffered the worst 2-day slide since the financial crisis. Expectations that the Federal Reserve will not raise rates in September increased but did not help risk appetite.
Crude oil finished sharply lower again and lost 2.60% ending slightly above $40 a barrel. Gold rose further on Friday and finished the week with a gain of $50, near $1160 an ounce.
In the forex market, risk aversion favored the yen that rose pushing USD/JPY to 122.00 but the euro and the Swiss franc were the top performers. The Canadian dollar was the worst among commodity currencies while many Latin-American currencies reached record lows (MXN, COP) against the US dollar.