JEWISH KING JESUS IS COMING AT THE RAPTURE FOR US IN THE CLOUDS-DON'T MISS IT FOR THE WORLD.THE BIBLE TAKEN LITERALLY- WHEN THE PLAIN SENSE MAKES GOOD SENSE-SEEK NO OTHER SENSE-LEST YOU END UP IN NONSENSE.GET SAVED NOW- CALL ON JESUS TODAY.THE ONLY SAVIOR OF THE WHOLE EARTH - NO OTHER.
1 COR 15:23-JESUS THE FIRST FRUITS-CHRISTIANS RAPTURED TO JESUS-FIRST FRUITS OF THE SPIRIT-23 But every man in his own order: Christ the firstfruits; afterward they that are Christ’s at his coming.ROMANS 8:23 And not only they, but ourselves also, which have the firstfruits of the Spirit, even we ourselves groan within ourselves, waiting for the adoption, to wit, the redemption of our body.(THE PRE-TRIB RAPTURE)
CHINA DEVALUES CURRENCY FOR AMERICAN INTEREST RATE RISE SPECULATION
http://israndjer.blogspot.ca/2015/08/i-believe-this-china-devaluing-of-its.html
http://israndjer.blogspot.ca/2015/08/asian-stock-markets-crash-badly-to.html
http://israndjer.blogspot.ca/2015/08/stock-market-crash-was-inevitable-and.html
http://israndjer.blogspot.ca/2015/08/imf-its-premature-to-say-china-is.html
http://israndjer.blogspot.ca/2015/08/10-currencies-that-may-follow.html
http://israndjer.blogspot.ca/2015/08/11-chinese-banks-ask-for-bailouts.html
http://israndjer.blogspot.ca/2015/08/north-korea-threatens-us-what-china.html
http://israndjer.blogspot.ca/2015/08/what-kinda-story-is-this-america-used.html
http://israndjer.blogspot.ca/2015/08/112-now-dead-722-injured-in-china-port.html
http://israndjer.blogspot.ca/2015/08/china-devalues-currency-for-3rd-day.html
http://israndjer.blogspot.ca/2015/08/china-currency-wars-angers.html
http://israndjer.blogspot.ca/2015/08/china-devalues-currency-for-second-day.html
http://israndjer.blogspot.ca/2015/08/china-devalues-its-currency-stocks-fall.html
GREECE NEWS
http://israndjer.blogspot.ca/2015/08/typhoons-fires-koreas-talk-planned.html
http://israndjer.blogspot.ca/2015/08/tsipras-resigns-for-greece-elections.html
http://israndjer.blogspot.ca/2015/08/china-says-it-arrested-15000-people-for.html
http://israndjer.blogspot.ca/2015/08/russia-and-nato-rehearsing-for-war.html
http://israndjer.blogspot.ca/2015/08/at-least-56-dead-720-injured-in-chinese.html
http://israndjer.blogspot.ca/2015/08/greece-lenders-clinch-bailout-deal.html
HOARDING OF GOLD AND SILVER
JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
REVELATION 18:10,17,19
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.(IN 1 HR THE STOCK MARKETS WORLDWIDE WILL CRASH)
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.
EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed:(CONFISCATED) their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
LUKE 2:1-3
1 And it came to pass in those days, that there went out a decree from Caesar Augustus, that all the world should be taxed.
2 (And this taxing was first made when Cyrenius was governor of Syria.)
3 And all went to be taxed, every one into his own city.
REVELATION 13:16-18
16 And he(THE FALSE POPE WHO DEFECTED FROM THE CHRISTIAN FAITH) causeth all,(IN THE WORLD ) both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(MICROCHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark,(MICROCHIP IMPLANT) or the name of the beast,(WORLD DICTATORS NAME INGRAVED ON YOUR SKIN OR TATTOOED ON YOU OR IN THE MICROCHIP IMPLANT) or the number of his name.(THE NUMBERS OF HIS NAME INGRAVED IN THE MICROCHIP IMLPLANT)-(ALL THESE WILL TELL THE WORLD DICTATOR THAT YOUR WITH HIM AND AGAINST KING JESUS-GOD)
18 Here is wisdom. Let him that hath understanding count the number of the beast:(WORLD LEADER) for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM (6006006)OR(60020202006)(SOME KIND OF NUMBER IMPLANTED IN THE MICROCHIP THAT TELLS THE WORLD DICTATOR AND THE NEW WORLD ORDER THAT YOU GIVE YOUR TOTAL ALLIGIENCE TO HIM AND NOT JESUS)(ITS AN ETERNAL DECISION YOU MAKE)(YOU CHOOSE YOUR OWN DESTINY)(YOU TAKE THE DICTATORS NAME OR NUMBER UNDER YOUR SKIN,YOUR DOOMED TO THE LAKE OF FIRE AND TORMENTS FOREVER,NEVER ENDING MEANT ONLY FOR SATAN AND HIS ANGELS,NOT HUMAN BEINGS).OR YOU REFUSE THE MICROCHIP IMPLANT AND GO ON THE SIDE OF KING JESUS AND RULE FOREVER WITH HIM ON EARTH.YOU CHOOSE,ITS YOUR DECISION.
REVELATION 6:5-6
5 And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand.
6 And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine.(A DAYS WAGES FOR A LOAF OF BREAD)
DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.
UPDATE-AUGUST 25,2015-07:00AM
THE 1,089 POINTS DROPPED YESTERDAY. WAS THE BIGGEST EVER INTRADAY DROP IN HISTORY. AND ALSO YESTERDAY. THE WORLD STOCK MARKETS LOST 2.7 TRILLION DOLLARS. AND OVER NIGHT THE CHINESE STOCK MARKET DROPPED ANOTHER 7.6%. BUT THE STOCK MARKETS ARE SKYROCKETING IN EUROPE AND AMERICA TODAY IN THEIR FUTURES. THE DOW IS CURRENTLY UP 600 POINTS. I CAN NOT UNDERSTAND THIS TURNAROUND TODAY. CHINAS DOWN 7%. BUT MOST OF THE MARKETS ARE HIGH. WHAT MAKES TODAY SO DIFFERENT FROM THE LAST WEEK. IS MY QUESTION. THE MARKETS SHOULD ALL BE DOWN 3 OR 4%. NOT UP LIKE TODAY-WHILE CHINA S MARKET IS DOWN 7.6%. CHINAS CENTRAL BANKS HAS CUT INTEREST RATES. AND ALSO THE CHINESE CENTRAL BANKS ARE PUMPING 23 BILLION DOLLARS INTO THE STOCK MARKET. THE CHINESE STOCK MARKET IS THE LOWEST IN THE LAST 8 YEARS. TOKYO IS DOWN 4% TODAY. ONE OF THE RARE DOWNERS TODAY ALSO.
DOW MARKET TUESDAY-AUG 25,2015
09:30AM-222.21
09:45AM-297.40
10:00AM-321.89
10:15AM-333.08
10:30AM-261.21
10:45AM-297.74
11:00AM-284.78
11:15AM-394.71
11:30AM-370.86
11:45AM-351.58
12:00PM-342.27
12:15PM-338.36
12:30PM-358.77
12:45PM-327.27
01:00PM-298.64
01:15PM-311.57
01:30PM-227.35
01:45PM-226.45
02:00PM-237.98
02:15PM-229.09
02:30PM-249.67
02:45PM-251.67
03:00PM-305.89
03:15PM-163.50
03:30PM-103.59
03:45PM-26.17-
04:00PM-204.91- 15,666.44 1.29% - MY 666 DAY PERDICTION DAY HAPPENED TODAY
HIGH TODAY +441 LOW TODAY -219 POINTS - 660 POINT TURN AROUND FROM HIGH.THIS WAS THE BIGGEST TURN AROUND SINCE 2008.
September, But There's One Big Wild Card Ahead-Pay close attention to Fischer-Luke Kawa-August 25, 2015 — 2:56 PM EDT-bloomberg
Citi is sticking with its call that the Federal Reserve will hike its policy rate next month.The bank's economists, led by William Lee, interpreted the Federal Reserve's July minutes differently from other institutions, claiming that monetary policymakers' increased concerns about financial stability cemented the case for a hike in September.Others institutions have recently pushed back their estimated dates for liftoff in light of international developments and volatility in financial markets emanating from China's decision to devalue the yuan.Federal funds futures rates imply that the probability of a rate hike has slipped below 30 percent, down substantially from roughly 50 percent last week.So what could move Citi off its September call? China could theoretically serve as a "bunker buster" - but for now, it doesn't look like a big enough deal.However, Fed Vice Chair Stanley Fischer's appearance at the forthcoming Jackson Hole economic policy symposium is the "key wild card," says Lee."If he shows signs of worrying that the transitory downward pressures (commodity and energy prices and the appreciating dollar) are feeding through and becoming entrenched in wages and domestic prices—THAT would be a big event," the economist writes. "His concern would suggest reduced confidence in reaching the Fed inflation target in the medium term."
Relief Rally Evaporates in U.S. Stocks as China Anxiety Bubbles-Anna-Louise Jackson Joseph Ciolli-Updated on August 25, 2015 — 4:07 PM EDT-bloomberg
A rebound that took the Dow Jones Industrial Average up more than 440 points disappeared as traders said trepidation over what will happen in China’s market made holding on to stocks too risky for most investors.The 30-stock index slid 1.3 percent to 15,665.77 at 4 p.m. in New York, down 4 percent from its highest point. The peak-to-trough retreat matched Monday’s selloff, when concern about global growth ignited the worst selloff in four years. The Standard & Poor’s 500 Index went from up 2.9 percent to down 1.4 percent, with most of the selling concentrated in the final two hours of trading.“We just saw a crazy evaporation of gains after being up the majority of the day,” said Stephen Carl, principal and head equity trader at Williams Capital Group LP. “People are nervous about the potential volatility that could erupt or resurface in the market. They’re not sure what’s going to happen overseas, and that uncertainty is winning out.”The unwinding disappointed bulls who earlier in the day staked hopes on China’s efforts to inject stimulus into its economy. The central bank today cut interest rates for the fifth time since November and lowered the amount of cash banks must set aside in an attempt to stem the country’s biggest stock market rout since 1996 and a deepening economic slowdown.“There’s still some technical damage that needs to be corrected, and there’s still some selling that needs to take place, which is probably why we’re off intraday highs,” said Terry Morris, a senior equity manager who helps oversee about $2.8 billion at Wyomissing, Pennsylvania-based National Penn Investors Trust Co. “We’re not just going to slingshot back up.”-More Swings-After a day of wild swings, the S&P 500 lost 3.9 percent Monday. That capped a 7 percent two-day retreat, the most since December 2008, sending the index into its first correction since 2011. JPMorgan Chase & Co. today recommended buying at these levels. The Chicago Board Options Exchange Volatility Index slid 15 percent Tuesday to 34.85. The gauge, know as the VIX, surged as much as 90 percent Monday to touch the highest level since January 2009 before closing at a nearly four-year high. Investors continued to watch economic reports for clues on the timing of an interest-rate increase by the Federal Reserve. Data today showed purchases of new homes rebounded in July, bolstering signs the real-estate market is picking up. A separate report showed consumer confidence climbed more than forecast in August, reaching the second-highest level in eight years on more favorable views of the labor market. Traders are now pricing in a roughly one-in-four chance the central bank will act at its September meeting, from about 48 percent just before the yuan devaluation, as the rout in equity markets has shaken confidence that the global economy will be strong enough to withstand higher U.S. rates.Fed Bank of Atlanta President Dennis Lockhart said Monday he still expects a rate raise this year, while cautioning that a stronger dollar, a weaker Chinese yuan and falling oil prices complicate the outlook.
PBOC's Zhou Under Pressure to Ease Monetary Policy Further-Bloomberg News-Updated on August 25, 2015 — 4:09 PM EDT-bloomberg
Zhou Xiaochuan probably isn’t finished yet.Even after cutting interest rates for the fifth time since November and telling banks they can hoard less cash, the People’s Bank of China governor remains under pressure to do more to support the world’s No. 2 economy amid the biggest slide in stocks since 1996.“A circuit breaker is needed to dispel excessive pessimism and restore confidence,” says Frederic Neumann, co-head of Asian economics research at HSBC Holdings Plc in Hong Kong. “Further support measures in the coming weeks and months will be needed.”Equities rallied around the world on Tuesday after the PBOC said it will cut the one-year lending rate by 25 basis points to 4.6 percent and lowered the required reserve ratio by 50 basis points for all banks. In the U.S., a gain of as much as 2.9 percent in the Standard & Poor’s 500 Index was erased in late trading, resulting in a 1.4 percent loss at 4:07 p.m. in New York. Zhou swung into action two weeks since a devaluation of the yuan and a deceleration in his economy ignited fears about the outlook for global growth.“This is a positive development that will help curb investor anxiety about a pronounced slowdown in China’s growth,” said Tim Condon, the head of Asian research at ING Groep NV in Singapore. “It should curb contagion to global markets.”Shane Oliver, head of investment strategy at fund manager AMP Capital Investors Ltd. in Sydney, is among those predicting further reductions in rates and the reserve ratio. He anticipates China will cut its benchmark lending rate to 4 percent by year-end, using an arsenal unavailable to counterparts such as the Federal Reserve which already run key rates near zero.-Further Easing-“China’s monetary policy is way too tight,” Oliver said. “Further easing in both interest rates and the reserve ratio will be needed.”The fresh easing reinforces efforts by policy makers to deliver on Premier Li Keqiang’s 2015 growth goal of about 7 percent. That is being jeopardized by deflation risks, over-capacity and a debt overhang, which leave the economy poised for its slowest expansion since 1990. Industrial production, investment and retail data all trailed analysts’ estimates in July.-Surprise Devaluation- The easier conditions for banks may have been necessitated by a need to offset a drying up of liquidity in markets following the surprise decision of Aug. 11 to devalue the yuan. The PBOC subsequently bought its currency to stabilize the exchange rate and curb capital outflows. China Merchants Securities Co. estimated the policy action is the equivalent of releasing 700 billion yuan ($109 billion) into the financial system.“If the central bank keeps defending the yuan, the cut is apparently not enough and it has to do more,” said Yao Wei, a Paris-based China economist at Societe Generale SA.The economy still faces downward pressure and the task of stabilizing growth, adjusting its structure, pushing reforms and improving living standards is very challenging, the PBOC said in a Q&A-style statement released after the move. Given volatility in global financial markets, “we need to use monetary policy tools more flexibly,” it said.China has halted intervention in the stock market so far this week as policy makers debate the merits of an unprecedented government campaign to support share prices, according to people familiar with the situation. Some officials argue that falling stocks will have a limited impact on the world’s second-largest economy and that the costs of supporting the market are too high, said one of the people, who asked not to be identified because the deliberations are private.-Changed Tack-“With the government’s efforts to prop up equity prices through direct purchases in tatters, policymakers have changed tack,” said Mark Williams, chief Asia economist at Capital Economics Ltd. in London. “The move may halt the market slide but we suspect the primary motivation is to shore up confidence in the state of the wider economy.”Before Tuesday’s move, Zhou had already this year lowered the required reserve ratio twice, with an additional move targeted to certain banks. Officials are also acting to boost lending including at the country’s policy banks.Tuesday’s shift drew comparisons with past crisis-fighting efforts from the Fed and other key central banks to act aggressively to protect economies from slowdowns and financial markets from selloffs.“It is really no different from any other central bank,” said Roberto Perli, a partner at Cornerstone Macro LLC in Washington and a former Fed economist. “When things get hairy, it eases.”
China A-Share ETFs Pare Gains in U.S. Trading Amid Volatility-Nikolaj Gammeltoft-August 25, 2015 — 4:08 PM EDT-bloomberg
Exchange-traded funds tracking China’s A-shares pared gains of as much as 5.2 percent in U.S. trading, halting a rally earlier in the day spurred by policy makers cutting interest rates for a fifth time since November in an attempt to shore up growth.The Deutsche X-trackers Harvest CSI 300 China A-Shares ETF almost erased its rally, rising 0.1 percent to $30.13 on Tuesday in New York. The Market Vectors ChinaAMC A-Share ETF rose 0.7 percent to $37.81 after gaining as much as 4.7 percent. A Bloomberg gauge of most-traded Chinese equities in the U.S. rose 3 percent.The ETFs retreated in the last hour of trading as U.S. stocks slumped after erasing a 2.9 percent morning rebound as volatility continues to roil equity markets.The one-year lending rate will drop by 25 basis points to 4.6 percent effective Wednesday, the Beijing-based People’s Bank of China said on its website Tuesday. The one-year deposit rate will fall by 25 basis points to 1.75 percent. Policy makers also lowered the required reserve ratio by 50 basis points for all banks to cover funding gaps.
China's Central Bank Injects $23.4 Billion as Yuan Intervention Drains Funds-Bloomberg News-Updated on August 25, 2015 — 8:12 AM EDT
China’s central bank injected the most funds via open-market operations in six months and cut lenders’ reserve ratios, adding cash as it buys yuan to prop up the exchange rate and tries to arrest a stock-market slide.The People’s Bank of China also reduced the one-year lending and deposit rates by 25 basis points each to 4.6 percent and 1.75 percent, respectively. The authority earlier auctioned 150 billion yuan ($23.4 billion) of seven-day reverse-repurchase agreements, more than the 120 billion yuan that matured. In addition, it gauged appetite for loans under its Medium-term Lending Facility, after extending 110 billion yuan last week.“The injections through open-market operations and MLF failed to bring borrowing costs lower,” said Kenix Lai, a foreign-exchange analyst at Bank of East Asia Ltd. “That’s why the PBOC has had to make such an aggressive move. It was unexpected to have them cutting both interest rates and RRR.”The cost of one-year interest-rate swaps, the fixed payment to receive the floating seven-day repo rate, reversed gains to drop three basis points to 2.51 percent as of 7:40 p.m. in Shanghai, data compiled by Bloomberg show.The overnight repurchase rate climbed one basis point to a four-month high of 1.86 percent in Shanghai before the PBOC move, according to a weighted average compiled by the National Interbank Funding Center. The yield on 10-year notes due July 2025 was little changed at 3.48 percent, according to National Interbank Funding Center prices.-Treasury Deposits-The PBOC sold 60 billion yuan of three-month treasury deposits on Tuesday on behalf of the Ministry of Finance at 3 percent, the least since 2010, data compiled by Bloomberg show. It will auction another 60 billion yuan on Aug. 28, according to a statement on its website.“In the process for the exchange rate to approach the equilibrium level, there will volatility in liquidity, and the shortfall needs to be filled,” The PBOC said in a statement Tuesday. “RRR cuts can serve the purpose.”In Hong Kong, the de facto central bank injected yuan liquidity into lenders amid rising money-market rates, Reuters reported, citing people it didn’t name. A Hong Kong Monetary Authority spokesperson said in an e-mail that the HKMA noticed offshore yuan liquidity had been tight and that lending rates were elevated recently.Yuan deposit rates in Hong Kong fell, with the one-week interbank savings rate dropping to 7.93 percent. It jumped as much as 840 basis points earlier to 22.9 percent, the highest in data going back to 2010.For more, read this QuickTake: China’s Managed Markets-Major banks have been seen selling dollars toward the close of onshore trading in Shanghai on most days since a surprise yuan devaluation on Aug. 11. The intervention removes funds from the financial system and risks driving borrowing costs higher unless the monetary authority releases additional cash. China’s foreign-exchange reserves will drop by some $40 billion a month for the rest of this year, according to the median of 28 estimates in a Bloomberg survey this month.(An earlier version of this report corrected the scope of the PBOC injections in the first paragraph)
Chinese Stocks Crash Again to Extend Biggest Plunge Since 1996-Bloomberg News-Updated on August 25, 2015 — 7:15 AM EDT
Chinese shares plummeted to extend the steepest four-day rout since 1996 on concern the government is abandoning market support measures.The Shanghai Composite Index tumbled 7.6 percent to 2,964.97 at the close, sinking below the 3,000 level for the first time in eight months. The gauge has dropped 22 percent in four days since Aug. 19. More than 700 stocks fell by the 10 percent daily limit in Shanghai on Tuesday, including PetroChina Co., the nation’s biggest company by value. Hours after the market closed, the central bank cut interest rates and lowered the amount of cash banks must set aside.Speculation around the government’s intentions has escalated since Aug. 14, after China’s securities regulator signaled authorities will pare back the campaign to prop up share prices as volatility falls. The China Securities Regulatory Commission made no attempt to reassure investors after Monday’s plunge, unlike a month ago when officials issued two statements shortly after an 8.5 percent drop.“It’s panic selling and an issue of confidence,” said Wei Wei, an analyst at Huaxi Securities Co. in Shanghai. “The government won’t step in to rescue the market again as it’s a global sell-off and it’s spreading everywhere now. It’s not going to work this time.”Tuesday’s drop is the seventh decline of more than 6 percent for the benchmark gauge in the past three months.The CSI 300 Index declined 7.1 percent, with gauges of energy, technology and material companies sinking more than 8 percent. PetroChina, long considered a favorite holding of state-linked rescue funds, closed at its lowest level since December.-1987 Crash-The Hang Seng Index rebounded 0.7 percent after a gauge of price momentum dropped to the lowest level since the October 1987 stock-market crash. The Hang Seng China Enterprises Index lost 0.9 percent to the lowest close since March 2014.Unprecedented government intervention has failed to stop a more than $4.5 trillion rout in mainland equities since June 12 amid concern the slowdown in the world’s second-largest economy is deepening. Officials have armed a state agency with more than $400 billion to purchase stocks, banned selling by major shareholders and told state-owned companies to buy equities.When the Shanghai Composite tumbled 8.5 percent on July 27, the regulator issued statements shortly after the market closed saying it would probe the sell-off and underlining the government’s commitment to supporting equities. The CSRC hasn’t made any statements since Monday’s tumble.“The regulator probably thinks the market slump this time hasn’t impacted the broader financial system, or they think the situation is still controllable,” said Xue Hexiang, a senior strategist of Huatai Securities Co.-State Support-China has halted intervention in the stock market so far this week as policy makers debate the merits of the government campaign to prop up share prices, according to people familiar with situation.On Aug. 14, the regulator said China Securities Finance Corp., the state agency tasked with supporting share prices, would no longer add to holdings unless there’s unusual volatility and systemic risk, although it would remain in the stock market for years to come.Officials should wind down the stock market support program even if prices continue to decline, according to a front-page commentary in the state-run Economic Information Daily on Tuesday.Some 17 percent of listed shares traded on mainland bourses were halted from trading Tuesday, little changed from Monday. About 40 percent were suspended during the depths of last month’s rout.Stock Valuations-Industrial & Commercial Bank of China Ltd., the nation’s second largest company, fell 5.1 percent in an 11th day of declines. Agricultural Bank of China Ltd. slid 9 percent. Futures on the CSI 300 sank by the 10 percent daily limit.The intervention sparked concern among Chinese traders that the government was trying to shore up the market at levels unjustified by weaker economic outlook. Stocks on mainland bourses traded at a median 61 times reported earnings on Friday, according to data compiled by Bloomberg. That’s the most among the 10 largest markets and more than three times the 19 multiple for the Standard & Poor’s 500 Index.China’s economic growth slowed to 6.6 percent in July, according to Bloomberg’s monthly GDP tracker. The nation’s first major economic indicator for August signaled a further deterioration as a private manufacturing index fell to the lowest level in six years.-Interest Rates-“We believe that Chinese policy makers have many tools to address the slowing economy,” said Michelle Leung, chief executive officer of Xingtai Capital Management Ltd. in Hong Kong. “There is a political debate over which tools to use.”The one-year lending rate will drop by 25 basis points to 4.6 percent effective Wednesday, the People’s Bank of China said on its website. The one-year deposit rate will fall by 25 basis points to 1.75 percent.The central bank added the most funds to the financial system in open-market operations since February on Tuesday as currency-market intervention to prop up the yuan strained the supply of cash.The People’s Bank of China auctioned 150 billion yuan ($23.4 billion) of seven-day reverse-repurchase agreements, according to traders at primary dealers required to bid at the auctions. That compares with 120 billion yuan maturing Tuesday, which leaves a net injection of 30 billion yuan.(A previous version of the story was corrected to fix the scope of central bank injections.)
ECB ready to act if inflation outlook changes materially: Constancio-reuters-aug 25,15
MANNHEIM, Germany-The European Central Bank is confident that its asset purchases will lift inflation back to its target but stands ready to take additional measures in case of a material change in the inflation outlook, the bank's vice president said on Monday."I am confident that full implementation of the private and public sector asset purchase programs, as announced, will lead to a sustained return of inflation rates towards levels consistent with our definition of price stability," Vitor Constancio told a conference."As always, the Governing Council stands ready to use all the instruments available within its mandate to respond to any material change to the outlook for price stability," Constancio added.The ECB is buying 60 billion euros worth of assets each month as part of its quantitative easing program to lift inflation back to its target of just under 2 percent.(Reporting by John O'Donnell and Francesco Canepa; Writing by Balazs Koranyi; Editing by Janet Lawrence)
Tue, Aug 25, 2015, 7:12 AM EDT - U.S. Markets open in 2 hrs 18 mins-Global bond yields, European stocks surge after China cuts rates-Reuters-YAHOONEWS
LONDON, Aug 25 (Reuters) - European equities and global bond yields jumped higher on Tuesday after the world's second largest economy China cut interest rates and banks' reserve requirements.The pan-European FTSEurofirst 300 was up 4.5 percent at 1024 GMT and on track for its best one-day gain since May 2010. Battered mining stocks were the big beneficiaries, with Glencore shares up around 9 percent and Anglo American up more than 6 percent.U.S. stock index futures held earlier gains.Yields on German bonds -- the euro zone benchmark -- rose more than 10 basis points to a two-week high of 0.68 percent , while U.S. and British equivalents rose 8 bps to 2.08 percent and 1.89 percent, respectively .The U.S. dollar extended gains against most major currencies. It rose 1.3 percent against the safe-haven yen , which traded at 119.96 to the dollar, while the euro dropped 1 percent to trade at $1.15.(Writing by John Geddie; Reporting by London markets team, editing by Nigel Stephenson)
Beijing cuts interest rates as world markets rebound, Shanghai slumps-Kirk Spitzer, USA TODAY 6:55 a.m. EDT August 25, 2015-USA TODAY
As an investor it’s hard not to panic as stocks continue to plunge. Adam Shell of USA TODAY with five tips on keeping your cool. Michael MondayTOKYO — European markets bounced back and U.S. stock futures rocketed higher Tuesday as China cut interest rates for the fifth time since November in an effort to boost its slowing economy.Dow, Nasdaq and S&P 500 stock index futures were all up over 3%. European stocks rose sharply.France's CAC 40 index added 3.5% and Germany's DAX index was up 3.1%.The People's Bank of China said the rate for a one-year loan will be cut 0.25 percentage point to 4.6% and the one-year rate for deposits will fall to 1.75%.The announcement was made after the close of Chinese and other Asian markets, which were volatile Tuesday as Chinese stocks plunged again and Tokyo markets also fell sharply after earlier rebounding.The Shanghai composite index declined 7.6% to 2,964.97.The index is now below the psychologically important 3,000 level.On Monday, China's benchmark plummeted 8.5%, triggering a wave of major stock markets losses worldwide, including the Dow, which fell 3.6%.Global markets plunge as China tumbles 8.5%.China's smaller Shenzhen composite index also saw sharp declines, falling over 7%.In Tokyo, the benchmark Nikkei 225 index reversed early gains before falling nearly 4%. That followed a 4.6% plunge Monday to the lowest level seen since late February."Relief, bargain-hunting and the realization that Fed interest rates could be lower for longer are all likely contributors to this morning’s better tone," said Jane Foley, an analyst at Rabobank in London, in comments emailed before China cut rates.Some analysts nevertheless cautioned that the drop in China share prices reflects a necessary market correction."Investors are overreacting about economic risks in China," Capital Economics said in a research note Tuesday. "A combination of poor data and policy inaction in China may have triggered today's market falls but the bigger picture is that we are witnessing the inevitable implosion of an equity market bubble."The volatility followed Monday's continued downdraft on Wall Street as the Dow — which was briefly down more than 1,000 points — finished with its second drop of more than 500 points in as many days. The broader Standard & Poor's 500-stock index tumbled into official correction mode for the first time since 2011.Hong Kong's Hang Seng, which lost 4.6% Monday, rose 0.7% on Tuesday. Sydney's S&P ASX 200 advanced 2.7% and Seoul's Kospi index added about 1% after shedding 3% the previous day.China is facing a slowdown in economic growth, the banking system is short of cash, and investors are pulling money out of the country."More (government) measures are needed to activate the market, like reducing taxes and restoring confidence in the real economy," said Xiao Lei, a senior market analyst at Shiji Jinhang, in Beijing.The steep loses for Chinese stocks came amid reports that Beijing may be censoring negative media coverage of China's financial markets.George Chen, managing editor of Honk Kong's South China Morning Post, shared on Twitter an apparent image of a directive from the Chinese government ordering the removal of five critical articles from mainland China news portals. USA TODAY could not independently verify the authenticity of the order from Beijing.However, for several hours Monday night and Tuesday morning, people in China searching for the term "stock crash" on Chinese search engines were told that "in accordance with the relevant laws, regulations and polices, some search results have not been displayed."Contributing: Greg Toppo in McLean, Va., Hannah Gardner in Beijing and Kim Hjelmgaard in Berlin
China stock slide continues, hits Europe-By EUOBSERVER-AUG 24,15
Today, 09:28-Chinese shares plummeted more than 8% within an hour of trade on Monday, signaling that a global equity sell-off continues. European stocks were set to drop sharply too at the opening bell on Monday. European shares already suffered their largest one-day fall in nearly four years on Friday.
Greek rebel MPs get three days to form government-By EUOBSERVER-AUG 24,15
Today, 09:28-The group of 25 rebel Syriza MPs, lead by former energy minister Panagiotis Lafazanis, will Monday be given a formal chance to form a new Greek government under the constitutional procedure triggered by PM Alexis Tsipras’s resignation. It is unlikely however the new party, Popular Unity, will find enough support.
S&P 500 Futures Rise After Steepest Two-Day Slump Since 2008-Bloomberg By Adam Haigh-aug 24,15
U.S. equity-index futures advanced after the steepest two-day drop in more than six years pushed the Standard & Poor’s 500 Index into a correction.Contracts on the S&P 500 due in September rose 0.7 percent to 1,883.25 as of 9:32 a.m. in Sydney on Tuesday. Futures on the Dow Jones Industrial Average added 0.7 percent, while those on the Nasdaq 100 Index climbed 0.6 percent.“They’re up for now, but futures can get swamped by what happens in Asia today,” Matthew Sherwood, head of investment strategy at Perpetual Ltd. in Sydney, which manages about $22 billion, said by phone. “Only a fool would say that the worst is behind us. People might be thinking this could represent a buying opportunity, but the danger there is trying to catch the falling knife.”More from Bloomberg.com: Trump's Net Favorable Rating Among Hispanics at -51: GallupNew Zealand’s S&P/NZX 50 Index, the first Asia-Pacific market to open, fell 2.3 percent in Tuesday morning trading. Futures on indexes from Sydney to Hong Kong signaled further declines.After a day of wild swings, the S&P 500 lost 3.9 percent Monday to cap a 7 percent two-day retreat, the most since December 2008, and enter its first correction since 2011.
Asia Wakes to U.S. Meltdown, Futures Are Mixed on What Comes Next-Emma O'Brien Adam Haigh-Updated on August 24, 2015 — 7:50 PM EDT-bloomberg
A cautious rebound in U.S. stock-index futures was met with skepticism by investors, with Asian markets bracing for further losses after the global selloff sent the Standard & Poor’s 500 Index into a correction. While futures on the S&P 500 rallied with U.S. oil in early Tuesday trading, contracts on Japanese stocks were mixed and those tracking Chinese indexes signaled another slump. The risk-off vibe was maintained in currency markets, with New Zealand dollars extending losses, while the yen pulled back from a seven-month high. Copper futures retreated for a third day.“No one enjoys watching markets implode like this, but there’s not much you can do about it, that’s the problem,” James Lee, managing director and head of securities at First NZ Capital Ltd., said by phone from Auckland. It looks likely “that we carry on the recent trend and if we do, it will be a rough day.”Markets are battling through their most unsettling period since the global financial crisis, with trillions of dollars wiped off the value of equities and commodities to currencies at multi year lows amid concern China’s slowdown could derail the world economy. The rout gathered momentum on Monday as Chinese stocks plunged, shrugging off government support measures to tumble the most since 2007. Oil is being dogged by concerns over demand.Futures Diverge-S&P 500 and Dow Jones Industrial Average futures added 1.1 percent as of 8:47 a.m. Tokyo time with both indexes now in correction territory. Nikkei 225 Stock Average futures rallied 1.6 percent in Chicago and were bid down 2.4 percent in the Osaka pre-market. Futures on the Shanghai Shenzhen CSI 300 Index sank 9.9 percent in most recent trading. Oil in New York rose 0.4 percent, barely denting last session’s 5.5 percent tumble, while copper on the Comex lost 0.4 percent. The kiwi lingered near a six-year low.The U.S. experienced a seesaw session Monday, with the S&P 500 erasing more than four-fifths of a 5 percent slide before succumbing to losses again and ending the day down 3.9 percent, its steepest one-day drop in four years. The index is now 11 percent below its May peak.Futures on Australia’s S&P/ASX 200 Index signaled more losses, sinking 3.7 percent after the gauge dropped to its lowest level in two years. Kospi index futures declined 0.6 percent, while contracts on the Hang Seng Index in Hong Kong fell 2.1 percent.Chinese futures foreshadowed more pain for the market seen as the nexus of the current rout. Futures on the FTSE China A50 Index decreased 1.4 percent in recent trading, after the 8.5 percent retreat in the Shanghai Composite Index shook investors. Contracts on the Hang Seng China Enterprises Index, which tracks mainland Chinese stocks in Hong Kong, sank 2.2 percent.-Asian Epicenter-“There is no getting away from the fact that this is going to be such a key session,” Chris Weston, chief markets strategist in Melbourne at IG Ltd., said in an e-mail. “It is Asia that is at the epicenter of this concern. If traders are going to buy Japanese, Australian and Hong Kong equities today and add risk assets in general to their portfolio, then we are going to need to see stability.”Oil drove the Bloomberg Commodity Index to its lowest level since August 1999 Monday, with West Texas Intermediate crude sliding to a 6 1/2-year low. WTI climbed to $38.37 a barrel in early Tuesday trading, ahead of an update Wednesday on the state of U.S. crude stockpiles.Copper futures due in December fell to $2.2380 a pound after touching a six-year low last session. Gold for immediate delivery fell a second day, losing 0.2 percent to $1,152.45 an ounce after slipping 0.5 percent Monday.The Dow Average lost 588 points, or 3.6 percent, Monday in a day of violent swings. The gauge plunged almost 1,100 points in the first five minutes of trading before roaring back to trim its loss to less than 300 points. The Nasdaq 100 Index sank nearly 10 percent at the open, only to close lower by 3.8 percent.-Surging Volumes-The Chicago Board Options Exchange Volatility Index jumped 45 percent to 40.74, the highest level since October 2011, as about 14 billion shares traded on U.S. exchanges, the most in more than four years and the second-highest value traded ever, according to Credit Suisse Group AG.Some prominent money managers and forecasts said the selling has gone too far, too fast. Jonathan Golub, chief market strategist at RBC Capital Markets, says the bloodbath in biotechnology and tech stocks is temporary, and investors should buy back the best performers of 2015.Laszlo Birinyi, the investor whose bullish calls have repeatedly come true since 2009, says that while the selloff lashing global equities is painful, its cause is no mystery -- and that’s a reason for optimism.“When the issues are on the table, the market will do what it has to to adjust and come out OK on the other end,” Birinyi, the president of Birinyi Associates in Westport, Connecticut, said in an interview on Bloomberg Radio’s “Surveillance” with Michael McKee. “That other end may be a while, and it may not be fun getting there.”Doug Ramsey, the chief investment officer of Leuthold Weeden Capital Management LLC, whose quantitative research into market breadth, valuation and investor sentiment foreshadowed the drubbing in American stocks last week, says the selling will worsen.
CHINA DEVALUES CURRENCY FOR AMERICAN INTEREST RATE RISE SPECULATION
http://israndjer.blogspot.ca/2015/08/i-believe-this-china-devaluing-of-its.html
http://israndjer.blogspot.ca/2015/08/asian-stock-markets-crash-badly-to.html
http://israndjer.blogspot.ca/2015/08/stock-market-crash-was-inevitable-and.html
http://israndjer.blogspot.ca/2015/08/imf-its-premature-to-say-china-is.html
http://israndjer.blogspot.ca/2015/08/10-currencies-that-may-follow.html
http://israndjer.blogspot.ca/2015/08/11-chinese-banks-ask-for-bailouts.html
http://israndjer.blogspot.ca/2015/08/north-korea-threatens-us-what-china.html
http://israndjer.blogspot.ca/2015/08/what-kinda-story-is-this-america-used.html
http://israndjer.blogspot.ca/2015/08/112-now-dead-722-injured-in-china-port.html
http://israndjer.blogspot.ca/2015/08/china-devalues-currency-for-3rd-day.html
http://israndjer.blogspot.ca/2015/08/china-currency-wars-angers.html
http://israndjer.blogspot.ca/2015/08/china-devalues-currency-for-second-day.html
http://israndjer.blogspot.ca/2015/08/china-devalues-its-currency-stocks-fall.html
GREECE NEWS
http://israndjer.blogspot.ca/2015/08/typhoons-fires-koreas-talk-planned.html
http://israndjer.blogspot.ca/2015/08/tsipras-resigns-for-greece-elections.html
http://israndjer.blogspot.ca/2015/08/china-says-it-arrested-15000-people-for.html
http://israndjer.blogspot.ca/2015/08/russia-and-nato-rehearsing-for-war.html
http://israndjer.blogspot.ca/2015/08/at-least-56-dead-720-injured-in-chinese.html
http://israndjer.blogspot.ca/2015/08/greece-lenders-clinch-bailout-deal.html
HOARDING OF GOLD AND SILVER
JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
REVELATION 18:10,17,19
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.(IN 1 HR THE STOCK MARKETS WORLDWIDE WILL CRASH)
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.
EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed:(CONFISCATED) their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
LUKE 2:1-3
1 And it came to pass in those days, that there went out a decree from Caesar Augustus, that all the world should be taxed.
2 (And this taxing was first made when Cyrenius was governor of Syria.)
3 And all went to be taxed, every one into his own city.
REVELATION 13:16-18
16 And he(THE FALSE POPE WHO DEFECTED FROM THE CHRISTIAN FAITH) causeth all,(IN THE WORLD ) both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(MICROCHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark,(MICROCHIP IMPLANT) or the name of the beast,(WORLD DICTATORS NAME INGRAVED ON YOUR SKIN OR TATTOOED ON YOU OR IN THE MICROCHIP IMPLANT) or the number of his name.(THE NUMBERS OF HIS NAME INGRAVED IN THE MICROCHIP IMLPLANT)-(ALL THESE WILL TELL THE WORLD DICTATOR THAT YOUR WITH HIM AND AGAINST KING JESUS-GOD)
18 Here is wisdom. Let him that hath understanding count the number of the beast:(WORLD LEADER) for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM (6006006)OR(60020202006)(SOME KIND OF NUMBER IMPLANTED IN THE MICROCHIP THAT TELLS THE WORLD DICTATOR AND THE NEW WORLD ORDER THAT YOU GIVE YOUR TOTAL ALLIGIENCE TO HIM AND NOT JESUS)(ITS AN ETERNAL DECISION YOU MAKE)(YOU CHOOSE YOUR OWN DESTINY)(YOU TAKE THE DICTATORS NAME OR NUMBER UNDER YOUR SKIN,YOUR DOOMED TO THE LAKE OF FIRE AND TORMENTS FOREVER,NEVER ENDING MEANT ONLY FOR SATAN AND HIS ANGELS,NOT HUMAN BEINGS).OR YOU REFUSE THE MICROCHIP IMPLANT AND GO ON THE SIDE OF KING JESUS AND RULE FOREVER WITH HIM ON EARTH.YOU CHOOSE,ITS YOUR DECISION.
REVELATION 6:5-6
5 And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand.
6 And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine.(A DAYS WAGES FOR A LOAF OF BREAD)
DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.
UPDATE-AUGUST 25,2015-07:00AM
THE 1,089 POINTS DROPPED YESTERDAY. WAS THE BIGGEST EVER INTRADAY DROP IN HISTORY. AND ALSO YESTERDAY. THE WORLD STOCK MARKETS LOST 2.7 TRILLION DOLLARS. AND OVER NIGHT THE CHINESE STOCK MARKET DROPPED ANOTHER 7.6%. BUT THE STOCK MARKETS ARE SKYROCKETING IN EUROPE AND AMERICA TODAY IN THEIR FUTURES. THE DOW IS CURRENTLY UP 600 POINTS. I CAN NOT UNDERSTAND THIS TURNAROUND TODAY. CHINAS DOWN 7%. BUT MOST OF THE MARKETS ARE HIGH. WHAT MAKES TODAY SO DIFFERENT FROM THE LAST WEEK. IS MY QUESTION. THE MARKETS SHOULD ALL BE DOWN 3 OR 4%. NOT UP LIKE TODAY-WHILE CHINA S MARKET IS DOWN 7.6%. CHINAS CENTRAL BANKS HAS CUT INTEREST RATES. AND ALSO THE CHINESE CENTRAL BANKS ARE PUMPING 23 BILLION DOLLARS INTO THE STOCK MARKET. THE CHINESE STOCK MARKET IS THE LOWEST IN THE LAST 8 YEARS. TOKYO IS DOWN 4% TODAY. ONE OF THE RARE DOWNERS TODAY ALSO.
DOW MARKET TUESDAY-AUG 25,2015
09:30AM-222.21
09:45AM-297.40
10:00AM-321.89
10:15AM-333.08
10:30AM-261.21
10:45AM-297.74
11:00AM-284.78
11:15AM-394.71
11:30AM-370.86
11:45AM-351.58
12:00PM-342.27
12:15PM-338.36
12:30PM-358.77
12:45PM-327.27
01:00PM-298.64
01:15PM-311.57
01:30PM-227.35
01:45PM-226.45
02:00PM-237.98
02:15PM-229.09
02:30PM-249.67
02:45PM-251.67
03:00PM-305.89
03:15PM-163.50
03:30PM-103.59
03:45PM-26.17-
04:00PM-204.91- 15,666.44 1.29% - MY 666 DAY PERDICTION DAY HAPPENED TODAY
HIGH TODAY +441 LOW TODAY -219 POINTS - 660 POINT TURN AROUND FROM HIGH.THIS WAS THE BIGGEST TURN AROUND SINCE 2008.
September, But There's One Big Wild Card Ahead-Pay close attention to Fischer-Luke Kawa-August 25, 2015 — 2:56 PM EDT-bloomberg
Citi is sticking with its call that the Federal Reserve will hike its policy rate next month.The bank's economists, led by William Lee, interpreted the Federal Reserve's July minutes differently from other institutions, claiming that monetary policymakers' increased concerns about financial stability cemented the case for a hike in September.Others institutions have recently pushed back their estimated dates for liftoff in light of international developments and volatility in financial markets emanating from China's decision to devalue the yuan.Federal funds futures rates imply that the probability of a rate hike has slipped below 30 percent, down substantially from roughly 50 percent last week.So what could move Citi off its September call? China could theoretically serve as a "bunker buster" - but for now, it doesn't look like a big enough deal.However, Fed Vice Chair Stanley Fischer's appearance at the forthcoming Jackson Hole economic policy symposium is the "key wild card," says Lee."If he shows signs of worrying that the transitory downward pressures (commodity and energy prices and the appreciating dollar) are feeding through and becoming entrenched in wages and domestic prices—THAT would be a big event," the economist writes. "His concern would suggest reduced confidence in reaching the Fed inflation target in the medium term."
Relief Rally Evaporates in U.S. Stocks as China Anxiety Bubbles-Anna-Louise Jackson Joseph Ciolli-Updated on August 25, 2015 — 4:07 PM EDT-bloomberg
A rebound that took the Dow Jones Industrial Average up more than 440 points disappeared as traders said trepidation over what will happen in China’s market made holding on to stocks too risky for most investors.The 30-stock index slid 1.3 percent to 15,665.77 at 4 p.m. in New York, down 4 percent from its highest point. The peak-to-trough retreat matched Monday’s selloff, when concern about global growth ignited the worst selloff in four years. The Standard & Poor’s 500 Index went from up 2.9 percent to down 1.4 percent, with most of the selling concentrated in the final two hours of trading.“We just saw a crazy evaporation of gains after being up the majority of the day,” said Stephen Carl, principal and head equity trader at Williams Capital Group LP. “People are nervous about the potential volatility that could erupt or resurface in the market. They’re not sure what’s going to happen overseas, and that uncertainty is winning out.”The unwinding disappointed bulls who earlier in the day staked hopes on China’s efforts to inject stimulus into its economy. The central bank today cut interest rates for the fifth time since November and lowered the amount of cash banks must set aside in an attempt to stem the country’s biggest stock market rout since 1996 and a deepening economic slowdown.“There’s still some technical damage that needs to be corrected, and there’s still some selling that needs to take place, which is probably why we’re off intraday highs,” said Terry Morris, a senior equity manager who helps oversee about $2.8 billion at Wyomissing, Pennsylvania-based National Penn Investors Trust Co. “We’re not just going to slingshot back up.”-More Swings-After a day of wild swings, the S&P 500 lost 3.9 percent Monday. That capped a 7 percent two-day retreat, the most since December 2008, sending the index into its first correction since 2011. JPMorgan Chase & Co. today recommended buying at these levels. The Chicago Board Options Exchange Volatility Index slid 15 percent Tuesday to 34.85. The gauge, know as the VIX, surged as much as 90 percent Monday to touch the highest level since January 2009 before closing at a nearly four-year high. Investors continued to watch economic reports for clues on the timing of an interest-rate increase by the Federal Reserve. Data today showed purchases of new homes rebounded in July, bolstering signs the real-estate market is picking up. A separate report showed consumer confidence climbed more than forecast in August, reaching the second-highest level in eight years on more favorable views of the labor market. Traders are now pricing in a roughly one-in-four chance the central bank will act at its September meeting, from about 48 percent just before the yuan devaluation, as the rout in equity markets has shaken confidence that the global economy will be strong enough to withstand higher U.S. rates.Fed Bank of Atlanta President Dennis Lockhart said Monday he still expects a rate raise this year, while cautioning that a stronger dollar, a weaker Chinese yuan and falling oil prices complicate the outlook.
PBOC's Zhou Under Pressure to Ease Monetary Policy Further-Bloomberg News-Updated on August 25, 2015 — 4:09 PM EDT-bloomberg
Zhou Xiaochuan probably isn’t finished yet.Even after cutting interest rates for the fifth time since November and telling banks they can hoard less cash, the People’s Bank of China governor remains under pressure to do more to support the world’s No. 2 economy amid the biggest slide in stocks since 1996.“A circuit breaker is needed to dispel excessive pessimism and restore confidence,” says Frederic Neumann, co-head of Asian economics research at HSBC Holdings Plc in Hong Kong. “Further support measures in the coming weeks and months will be needed.”Equities rallied around the world on Tuesday after the PBOC said it will cut the one-year lending rate by 25 basis points to 4.6 percent and lowered the required reserve ratio by 50 basis points for all banks. In the U.S., a gain of as much as 2.9 percent in the Standard & Poor’s 500 Index was erased in late trading, resulting in a 1.4 percent loss at 4:07 p.m. in New York. Zhou swung into action two weeks since a devaluation of the yuan and a deceleration in his economy ignited fears about the outlook for global growth.“This is a positive development that will help curb investor anxiety about a pronounced slowdown in China’s growth,” said Tim Condon, the head of Asian research at ING Groep NV in Singapore. “It should curb contagion to global markets.”Shane Oliver, head of investment strategy at fund manager AMP Capital Investors Ltd. in Sydney, is among those predicting further reductions in rates and the reserve ratio. He anticipates China will cut its benchmark lending rate to 4 percent by year-end, using an arsenal unavailable to counterparts such as the Federal Reserve which already run key rates near zero.-Further Easing-“China’s monetary policy is way too tight,” Oliver said. “Further easing in both interest rates and the reserve ratio will be needed.”The fresh easing reinforces efforts by policy makers to deliver on Premier Li Keqiang’s 2015 growth goal of about 7 percent. That is being jeopardized by deflation risks, over-capacity and a debt overhang, which leave the economy poised for its slowest expansion since 1990. Industrial production, investment and retail data all trailed analysts’ estimates in July.-Surprise Devaluation- The easier conditions for banks may have been necessitated by a need to offset a drying up of liquidity in markets following the surprise decision of Aug. 11 to devalue the yuan. The PBOC subsequently bought its currency to stabilize the exchange rate and curb capital outflows. China Merchants Securities Co. estimated the policy action is the equivalent of releasing 700 billion yuan ($109 billion) into the financial system.“If the central bank keeps defending the yuan, the cut is apparently not enough and it has to do more,” said Yao Wei, a Paris-based China economist at Societe Generale SA.The economy still faces downward pressure and the task of stabilizing growth, adjusting its structure, pushing reforms and improving living standards is very challenging, the PBOC said in a Q&A-style statement released after the move. Given volatility in global financial markets, “we need to use monetary policy tools more flexibly,” it said.China has halted intervention in the stock market so far this week as policy makers debate the merits of an unprecedented government campaign to support share prices, according to people familiar with the situation. Some officials argue that falling stocks will have a limited impact on the world’s second-largest economy and that the costs of supporting the market are too high, said one of the people, who asked not to be identified because the deliberations are private.-Changed Tack-“With the government’s efforts to prop up equity prices through direct purchases in tatters, policymakers have changed tack,” said Mark Williams, chief Asia economist at Capital Economics Ltd. in London. “The move may halt the market slide but we suspect the primary motivation is to shore up confidence in the state of the wider economy.”Before Tuesday’s move, Zhou had already this year lowered the required reserve ratio twice, with an additional move targeted to certain banks. Officials are also acting to boost lending including at the country’s policy banks.Tuesday’s shift drew comparisons with past crisis-fighting efforts from the Fed and other key central banks to act aggressively to protect economies from slowdowns and financial markets from selloffs.“It is really no different from any other central bank,” said Roberto Perli, a partner at Cornerstone Macro LLC in Washington and a former Fed economist. “When things get hairy, it eases.”
China A-Share ETFs Pare Gains in U.S. Trading Amid Volatility-Nikolaj Gammeltoft-August 25, 2015 — 4:08 PM EDT-bloomberg
Exchange-traded funds tracking China’s A-shares pared gains of as much as 5.2 percent in U.S. trading, halting a rally earlier in the day spurred by policy makers cutting interest rates for a fifth time since November in an attempt to shore up growth.The Deutsche X-trackers Harvest CSI 300 China A-Shares ETF almost erased its rally, rising 0.1 percent to $30.13 on Tuesday in New York. The Market Vectors ChinaAMC A-Share ETF rose 0.7 percent to $37.81 after gaining as much as 4.7 percent. A Bloomberg gauge of most-traded Chinese equities in the U.S. rose 3 percent.The ETFs retreated in the last hour of trading as U.S. stocks slumped after erasing a 2.9 percent morning rebound as volatility continues to roil equity markets.The one-year lending rate will drop by 25 basis points to 4.6 percent effective Wednesday, the Beijing-based People’s Bank of China said on its website Tuesday. The one-year deposit rate will fall by 25 basis points to 1.75 percent. Policy makers also lowered the required reserve ratio by 50 basis points for all banks to cover funding gaps.
China's Central Bank Injects $23.4 Billion as Yuan Intervention Drains Funds-Bloomberg News-Updated on August 25, 2015 — 8:12 AM EDT
China’s central bank injected the most funds via open-market operations in six months and cut lenders’ reserve ratios, adding cash as it buys yuan to prop up the exchange rate and tries to arrest a stock-market slide.The People’s Bank of China also reduced the one-year lending and deposit rates by 25 basis points each to 4.6 percent and 1.75 percent, respectively. The authority earlier auctioned 150 billion yuan ($23.4 billion) of seven-day reverse-repurchase agreements, more than the 120 billion yuan that matured. In addition, it gauged appetite for loans under its Medium-term Lending Facility, after extending 110 billion yuan last week.“The injections through open-market operations and MLF failed to bring borrowing costs lower,” said Kenix Lai, a foreign-exchange analyst at Bank of East Asia Ltd. “That’s why the PBOC has had to make such an aggressive move. It was unexpected to have them cutting both interest rates and RRR.”The cost of one-year interest-rate swaps, the fixed payment to receive the floating seven-day repo rate, reversed gains to drop three basis points to 2.51 percent as of 7:40 p.m. in Shanghai, data compiled by Bloomberg show.The overnight repurchase rate climbed one basis point to a four-month high of 1.86 percent in Shanghai before the PBOC move, according to a weighted average compiled by the National Interbank Funding Center. The yield on 10-year notes due July 2025 was little changed at 3.48 percent, according to National Interbank Funding Center prices.-Treasury Deposits-The PBOC sold 60 billion yuan of three-month treasury deposits on Tuesday on behalf of the Ministry of Finance at 3 percent, the least since 2010, data compiled by Bloomberg show. It will auction another 60 billion yuan on Aug. 28, according to a statement on its website.“In the process for the exchange rate to approach the equilibrium level, there will volatility in liquidity, and the shortfall needs to be filled,” The PBOC said in a statement Tuesday. “RRR cuts can serve the purpose.”In Hong Kong, the de facto central bank injected yuan liquidity into lenders amid rising money-market rates, Reuters reported, citing people it didn’t name. A Hong Kong Monetary Authority spokesperson said in an e-mail that the HKMA noticed offshore yuan liquidity had been tight and that lending rates were elevated recently.Yuan deposit rates in Hong Kong fell, with the one-week interbank savings rate dropping to 7.93 percent. It jumped as much as 840 basis points earlier to 22.9 percent, the highest in data going back to 2010.For more, read this QuickTake: China’s Managed Markets-Major banks have been seen selling dollars toward the close of onshore trading in Shanghai on most days since a surprise yuan devaluation on Aug. 11. The intervention removes funds from the financial system and risks driving borrowing costs higher unless the monetary authority releases additional cash. China’s foreign-exchange reserves will drop by some $40 billion a month for the rest of this year, according to the median of 28 estimates in a Bloomberg survey this month.(An earlier version of this report corrected the scope of the PBOC injections in the first paragraph)
Chinese Stocks Crash Again to Extend Biggest Plunge Since 1996-Bloomberg News-Updated on August 25, 2015 — 7:15 AM EDT
Chinese shares plummeted to extend the steepest four-day rout since 1996 on concern the government is abandoning market support measures.The Shanghai Composite Index tumbled 7.6 percent to 2,964.97 at the close, sinking below the 3,000 level for the first time in eight months. The gauge has dropped 22 percent in four days since Aug. 19. More than 700 stocks fell by the 10 percent daily limit in Shanghai on Tuesday, including PetroChina Co., the nation’s biggest company by value. Hours after the market closed, the central bank cut interest rates and lowered the amount of cash banks must set aside.Speculation around the government’s intentions has escalated since Aug. 14, after China’s securities regulator signaled authorities will pare back the campaign to prop up share prices as volatility falls. The China Securities Regulatory Commission made no attempt to reassure investors after Monday’s plunge, unlike a month ago when officials issued two statements shortly after an 8.5 percent drop.“It’s panic selling and an issue of confidence,” said Wei Wei, an analyst at Huaxi Securities Co. in Shanghai. “The government won’t step in to rescue the market again as it’s a global sell-off and it’s spreading everywhere now. It’s not going to work this time.”Tuesday’s drop is the seventh decline of more than 6 percent for the benchmark gauge in the past three months.The CSI 300 Index declined 7.1 percent, with gauges of energy, technology and material companies sinking more than 8 percent. PetroChina, long considered a favorite holding of state-linked rescue funds, closed at its lowest level since December.-1987 Crash-The Hang Seng Index rebounded 0.7 percent after a gauge of price momentum dropped to the lowest level since the October 1987 stock-market crash. The Hang Seng China Enterprises Index lost 0.9 percent to the lowest close since March 2014.Unprecedented government intervention has failed to stop a more than $4.5 trillion rout in mainland equities since June 12 amid concern the slowdown in the world’s second-largest economy is deepening. Officials have armed a state agency with more than $400 billion to purchase stocks, banned selling by major shareholders and told state-owned companies to buy equities.When the Shanghai Composite tumbled 8.5 percent on July 27, the regulator issued statements shortly after the market closed saying it would probe the sell-off and underlining the government’s commitment to supporting equities. The CSRC hasn’t made any statements since Monday’s tumble.“The regulator probably thinks the market slump this time hasn’t impacted the broader financial system, or they think the situation is still controllable,” said Xue Hexiang, a senior strategist of Huatai Securities Co.-State Support-China has halted intervention in the stock market so far this week as policy makers debate the merits of the government campaign to prop up share prices, according to people familiar with situation.On Aug. 14, the regulator said China Securities Finance Corp., the state agency tasked with supporting share prices, would no longer add to holdings unless there’s unusual volatility and systemic risk, although it would remain in the stock market for years to come.Officials should wind down the stock market support program even if prices continue to decline, according to a front-page commentary in the state-run Economic Information Daily on Tuesday.Some 17 percent of listed shares traded on mainland bourses were halted from trading Tuesday, little changed from Monday. About 40 percent were suspended during the depths of last month’s rout.Stock Valuations-Industrial & Commercial Bank of China Ltd., the nation’s second largest company, fell 5.1 percent in an 11th day of declines. Agricultural Bank of China Ltd. slid 9 percent. Futures on the CSI 300 sank by the 10 percent daily limit.The intervention sparked concern among Chinese traders that the government was trying to shore up the market at levels unjustified by weaker economic outlook. Stocks on mainland bourses traded at a median 61 times reported earnings on Friday, according to data compiled by Bloomberg. That’s the most among the 10 largest markets and more than three times the 19 multiple for the Standard & Poor’s 500 Index.China’s economic growth slowed to 6.6 percent in July, according to Bloomberg’s monthly GDP tracker. The nation’s first major economic indicator for August signaled a further deterioration as a private manufacturing index fell to the lowest level in six years.-Interest Rates-“We believe that Chinese policy makers have many tools to address the slowing economy,” said Michelle Leung, chief executive officer of Xingtai Capital Management Ltd. in Hong Kong. “There is a political debate over which tools to use.”The one-year lending rate will drop by 25 basis points to 4.6 percent effective Wednesday, the People’s Bank of China said on its website. The one-year deposit rate will fall by 25 basis points to 1.75 percent.The central bank added the most funds to the financial system in open-market operations since February on Tuesday as currency-market intervention to prop up the yuan strained the supply of cash.The People’s Bank of China auctioned 150 billion yuan ($23.4 billion) of seven-day reverse-repurchase agreements, according to traders at primary dealers required to bid at the auctions. That compares with 120 billion yuan maturing Tuesday, which leaves a net injection of 30 billion yuan.(A previous version of the story was corrected to fix the scope of central bank injections.)
ECB ready to act if inflation outlook changes materially: Constancio-reuters-aug 25,15
MANNHEIM, Germany-The European Central Bank is confident that its asset purchases will lift inflation back to its target but stands ready to take additional measures in case of a material change in the inflation outlook, the bank's vice president said on Monday."I am confident that full implementation of the private and public sector asset purchase programs, as announced, will lead to a sustained return of inflation rates towards levels consistent with our definition of price stability," Vitor Constancio told a conference."As always, the Governing Council stands ready to use all the instruments available within its mandate to respond to any material change to the outlook for price stability," Constancio added.The ECB is buying 60 billion euros worth of assets each month as part of its quantitative easing program to lift inflation back to its target of just under 2 percent.(Reporting by John O'Donnell and Francesco Canepa; Writing by Balazs Koranyi; Editing by Janet Lawrence)
Tue, Aug 25, 2015, 7:12 AM EDT - U.S. Markets open in 2 hrs 18 mins-Global bond yields, European stocks surge after China cuts rates-Reuters-YAHOONEWS
LONDON, Aug 25 (Reuters) - European equities and global bond yields jumped higher on Tuesday after the world's second largest economy China cut interest rates and banks' reserve requirements.The pan-European FTSEurofirst 300 was up 4.5 percent at 1024 GMT and on track for its best one-day gain since May 2010. Battered mining stocks were the big beneficiaries, with Glencore shares up around 9 percent and Anglo American up more than 6 percent.U.S. stock index futures held earlier gains.Yields on German bonds -- the euro zone benchmark -- rose more than 10 basis points to a two-week high of 0.68 percent , while U.S. and British equivalents rose 8 bps to 2.08 percent and 1.89 percent, respectively .The U.S. dollar extended gains against most major currencies. It rose 1.3 percent against the safe-haven yen , which traded at 119.96 to the dollar, while the euro dropped 1 percent to trade at $1.15.(Writing by John Geddie; Reporting by London markets team, editing by Nigel Stephenson)
Beijing cuts interest rates as world markets rebound, Shanghai slumps-Kirk Spitzer, USA TODAY 6:55 a.m. EDT August 25, 2015-USA TODAY
As an investor it’s hard not to panic as stocks continue to plunge. Adam Shell of USA TODAY with five tips on keeping your cool. Michael MondayTOKYO — European markets bounced back and U.S. stock futures rocketed higher Tuesday as China cut interest rates for the fifth time since November in an effort to boost its slowing economy.Dow, Nasdaq and S&P 500 stock index futures were all up over 3%. European stocks rose sharply.France's CAC 40 index added 3.5% and Germany's DAX index was up 3.1%.The People's Bank of China said the rate for a one-year loan will be cut 0.25 percentage point to 4.6% and the one-year rate for deposits will fall to 1.75%.The announcement was made after the close of Chinese and other Asian markets, which were volatile Tuesday as Chinese stocks plunged again and Tokyo markets also fell sharply after earlier rebounding.The Shanghai composite index declined 7.6% to 2,964.97.The index is now below the psychologically important 3,000 level.On Monday, China's benchmark plummeted 8.5%, triggering a wave of major stock markets losses worldwide, including the Dow, which fell 3.6%.Global markets plunge as China tumbles 8.5%.China's smaller Shenzhen composite index also saw sharp declines, falling over 7%.In Tokyo, the benchmark Nikkei 225 index reversed early gains before falling nearly 4%. That followed a 4.6% plunge Monday to the lowest level seen since late February."Relief, bargain-hunting and the realization that Fed interest rates could be lower for longer are all likely contributors to this morning’s better tone," said Jane Foley, an analyst at Rabobank in London, in comments emailed before China cut rates.Some analysts nevertheless cautioned that the drop in China share prices reflects a necessary market correction."Investors are overreacting about economic risks in China," Capital Economics said in a research note Tuesday. "A combination of poor data and policy inaction in China may have triggered today's market falls but the bigger picture is that we are witnessing the inevitable implosion of an equity market bubble."The volatility followed Monday's continued downdraft on Wall Street as the Dow — which was briefly down more than 1,000 points — finished with its second drop of more than 500 points in as many days. The broader Standard & Poor's 500-stock index tumbled into official correction mode for the first time since 2011.Hong Kong's Hang Seng, which lost 4.6% Monday, rose 0.7% on Tuesday. Sydney's S&P ASX 200 advanced 2.7% and Seoul's Kospi index added about 1% after shedding 3% the previous day.China is facing a slowdown in economic growth, the banking system is short of cash, and investors are pulling money out of the country."More (government) measures are needed to activate the market, like reducing taxes and restoring confidence in the real economy," said Xiao Lei, a senior market analyst at Shiji Jinhang, in Beijing.The steep loses for Chinese stocks came amid reports that Beijing may be censoring negative media coverage of China's financial markets.George Chen, managing editor of Honk Kong's South China Morning Post, shared on Twitter an apparent image of a directive from the Chinese government ordering the removal of five critical articles from mainland China news portals. USA TODAY could not independently verify the authenticity of the order from Beijing.However, for several hours Monday night and Tuesday morning, people in China searching for the term "stock crash" on Chinese search engines were told that "in accordance with the relevant laws, regulations and polices, some search results have not been displayed."Contributing: Greg Toppo in McLean, Va., Hannah Gardner in Beijing and Kim Hjelmgaard in Berlin
China stock slide continues, hits Europe-By EUOBSERVER-AUG 24,15
Today, 09:28-Chinese shares plummeted more than 8% within an hour of trade on Monday, signaling that a global equity sell-off continues. European stocks were set to drop sharply too at the opening bell on Monday. European shares already suffered their largest one-day fall in nearly four years on Friday.
Greek rebel MPs get three days to form government-By EUOBSERVER-AUG 24,15
Today, 09:28-The group of 25 rebel Syriza MPs, lead by former energy minister Panagiotis Lafazanis, will Monday be given a formal chance to form a new Greek government under the constitutional procedure triggered by PM Alexis Tsipras’s resignation. It is unlikely however the new party, Popular Unity, will find enough support.
S&P 500 Futures Rise After Steepest Two-Day Slump Since 2008-Bloomberg By Adam Haigh-aug 24,15
U.S. equity-index futures advanced after the steepest two-day drop in more than six years pushed the Standard & Poor’s 500 Index into a correction.Contracts on the S&P 500 due in September rose 0.7 percent to 1,883.25 as of 9:32 a.m. in Sydney on Tuesday. Futures on the Dow Jones Industrial Average added 0.7 percent, while those on the Nasdaq 100 Index climbed 0.6 percent.“They’re up for now, but futures can get swamped by what happens in Asia today,” Matthew Sherwood, head of investment strategy at Perpetual Ltd. in Sydney, which manages about $22 billion, said by phone. “Only a fool would say that the worst is behind us. People might be thinking this could represent a buying opportunity, but the danger there is trying to catch the falling knife.”More from Bloomberg.com: Trump's Net Favorable Rating Among Hispanics at -51: GallupNew Zealand’s S&P/NZX 50 Index, the first Asia-Pacific market to open, fell 2.3 percent in Tuesday morning trading. Futures on indexes from Sydney to Hong Kong signaled further declines.After a day of wild swings, the S&P 500 lost 3.9 percent Monday to cap a 7 percent two-day retreat, the most since December 2008, and enter its first correction since 2011.
Asia Wakes to U.S. Meltdown, Futures Are Mixed on What Comes Next-Emma O'Brien Adam Haigh-Updated on August 24, 2015 — 7:50 PM EDT-bloomberg
A cautious rebound in U.S. stock-index futures was met with skepticism by investors, with Asian markets bracing for further losses after the global selloff sent the Standard & Poor’s 500 Index into a correction. While futures on the S&P 500 rallied with U.S. oil in early Tuesday trading, contracts on Japanese stocks were mixed and those tracking Chinese indexes signaled another slump. The risk-off vibe was maintained in currency markets, with New Zealand dollars extending losses, while the yen pulled back from a seven-month high. Copper futures retreated for a third day.“No one enjoys watching markets implode like this, but there’s not much you can do about it, that’s the problem,” James Lee, managing director and head of securities at First NZ Capital Ltd., said by phone from Auckland. It looks likely “that we carry on the recent trend and if we do, it will be a rough day.”Markets are battling through their most unsettling period since the global financial crisis, with trillions of dollars wiped off the value of equities and commodities to currencies at multi year lows amid concern China’s slowdown could derail the world economy. The rout gathered momentum on Monday as Chinese stocks plunged, shrugging off government support measures to tumble the most since 2007. Oil is being dogged by concerns over demand.Futures Diverge-S&P 500 and Dow Jones Industrial Average futures added 1.1 percent as of 8:47 a.m. Tokyo time with both indexes now in correction territory. Nikkei 225 Stock Average futures rallied 1.6 percent in Chicago and were bid down 2.4 percent in the Osaka pre-market. Futures on the Shanghai Shenzhen CSI 300 Index sank 9.9 percent in most recent trading. Oil in New York rose 0.4 percent, barely denting last session’s 5.5 percent tumble, while copper on the Comex lost 0.4 percent. The kiwi lingered near a six-year low.The U.S. experienced a seesaw session Monday, with the S&P 500 erasing more than four-fifths of a 5 percent slide before succumbing to losses again and ending the day down 3.9 percent, its steepest one-day drop in four years. The index is now 11 percent below its May peak.Futures on Australia’s S&P/ASX 200 Index signaled more losses, sinking 3.7 percent after the gauge dropped to its lowest level in two years. Kospi index futures declined 0.6 percent, while contracts on the Hang Seng Index in Hong Kong fell 2.1 percent.Chinese futures foreshadowed more pain for the market seen as the nexus of the current rout. Futures on the FTSE China A50 Index decreased 1.4 percent in recent trading, after the 8.5 percent retreat in the Shanghai Composite Index shook investors. Contracts on the Hang Seng China Enterprises Index, which tracks mainland Chinese stocks in Hong Kong, sank 2.2 percent.-Asian Epicenter-“There is no getting away from the fact that this is going to be such a key session,” Chris Weston, chief markets strategist in Melbourne at IG Ltd., said in an e-mail. “It is Asia that is at the epicenter of this concern. If traders are going to buy Japanese, Australian and Hong Kong equities today and add risk assets in general to their portfolio, then we are going to need to see stability.”Oil drove the Bloomberg Commodity Index to its lowest level since August 1999 Monday, with West Texas Intermediate crude sliding to a 6 1/2-year low. WTI climbed to $38.37 a barrel in early Tuesday trading, ahead of an update Wednesday on the state of U.S. crude stockpiles.Copper futures due in December fell to $2.2380 a pound after touching a six-year low last session. Gold for immediate delivery fell a second day, losing 0.2 percent to $1,152.45 an ounce after slipping 0.5 percent Monday.The Dow Average lost 588 points, or 3.6 percent, Monday in a day of violent swings. The gauge plunged almost 1,100 points in the first five minutes of trading before roaring back to trim its loss to less than 300 points. The Nasdaq 100 Index sank nearly 10 percent at the open, only to close lower by 3.8 percent.-Surging Volumes-The Chicago Board Options Exchange Volatility Index jumped 45 percent to 40.74, the highest level since October 2011, as about 14 billion shares traded on U.S. exchanges, the most in more than four years and the second-highest value traded ever, according to Credit Suisse Group AG.Some prominent money managers and forecasts said the selling has gone too far, too fast. Jonathan Golub, chief market strategist at RBC Capital Markets, says the bloodbath in biotechnology and tech stocks is temporary, and investors should buy back the best performers of 2015.Laszlo Birinyi, the investor whose bullish calls have repeatedly come true since 2009, says that while the selloff lashing global equities is painful, its cause is no mystery -- and that’s a reason for optimism.“When the issues are on the table, the market will do what it has to to adjust and come out OK on the other end,” Birinyi, the president of Birinyi Associates in Westport, Connecticut, said in an interview on Bloomberg Radio’s “Surveillance” with Michael McKee. “That other end may be a while, and it may not be fun getting there.”Doug Ramsey, the chief investment officer of Leuthold Weeden Capital Management LLC, whose quantitative research into market breadth, valuation and investor sentiment foreshadowed the drubbing in American stocks last week, says the selling will worsen.
