The financial giant says that this could be worse than the ‘Black Monday.’ HSBC issued warning about looming financial crisis. The worldwide financial services and banking institution Hong Kong Shanghai Banking Corporation (HSBC) has issued a warning that a serious crisis may be looming on the global financial horizon. HSBC’s warning has come in the wake of the stock market indicators.
HSBC alert US stock market crash has indicated that it could be worse than the ‘Black Monday’ crash of 1987. The head of technical analysis team at HSBC, Murray Gunn revealed the clients of the financial giant that a steep fall may occur in the stock markets. He said that this was based on the analysis of price action over the previous few weeks.
HSBC announced that aggressive selling has been observed in US stocks that is why it was issuing a red alert. There is a very high possibility that a severe fall in the market should occur within the next few days. Read more…