13 December 2014

What happened to the Santa Rally?

The Guardian reports:
Global stock markets continued to tumble on Friday, pushing the FTSE 100 to its worst weekly fall in more than three years. Since Monday,£112bn has been wiped off the value of Britain’s leading companies.
Investors headed for the exits amid growing fears about the Chinese economy, the tumbling price of oil, and the prospect of another eurozone crisis prompted by political uncertainty in Greece.
The FTSE 100 finished at 6300.63 on Friday, its lowest level since 20 October. The index was down 161 points on the day and 442 points, or 6.6%, on the week.
It was the biggest weekly decline in percentage terms since August 2011, when recession fears and worries about America’s debts stalked the markets.
Fingers well and truly burned.  But I suppose that it's a buying opportunity ...


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