World Collapse Begins, Dow Down -550, S&P Down 3%, Dollar Collapsing
U.S. stock index futures screamed lower on Monday, with Dow futurestumbling more than 700 points, as fears surrounding the health of China’s economy multiplied.
The New York Stock Exchange is invoking Rule 48 for the Monday stock market open, Dow Jones reported.
The rule allows NYSE to open stocks without indications. “It was set up for situations like this,” said Art Hogan, chief market strategist at Wunderich Securities. It was last used in the financial crisis.
The Dow futures held about 700 points lower, with the S&P futures off about 80 points, and the Nasdaq 100 futures off about 5 percent, which marks the lower end of the price limit.
The plunge in oil prices accelerated Monday, in line with the selloff in global financial markets, as investors were shaken by the rout in Chinese equity markets and worries about global economic growth.
Light, sweet crude futures for delivery in October CLV5, -5.86% dropped below $39 a barrel on the New York Mercantile Exchange, setting it on track to close below that level for the first time since February 2009. The contract was down $1.54, or 3.8%, at $38.91 a barrel, ahead of the U.S. market open.
October Brent crude LCOV5, -5.76% on London’s ICE Futures exchange fell $1.78, or 3.9%, to $43.70 a barrel, dropping below the $45-a-barrel mark for the first time since March 2009. It is now trading more than 55% lower from its one-year high of $103.19 a barrel reached in August last year.
Black Monday: Biggest slide in Chinese stocks since 2007, Brent oil below $44
The U.S Dollar is collapsing as the world economy continues to collapse.
https://www.google.com/finance?q=INDEXDJX:.DJI&ei=pxzbVbHyKJDCmAH75KPoAg
| NAME | VALUE | NET CHANGE | % CHANGE | 1 MONTH | 1 YEAR | TIME | 2 DAY |
|---|---|---|---|---|---|---|---|
| 15,910.44 | -549.31 | -3.34% | -9.44% | -6.42% | 09:44:40 | ||
| 1,970.89 | -64.84 | -3.19% | -5.23% | -0.88% | 16:30:20 | ||
| 4,706.04 | -171.45 | -3.52% | -7.52% | +3.69% | 17:16:07 | ||
| 10,195.69 | -280.06 | -2.67% | -4.91% | -6.87% | 21:00:01 | ||
|
|
13,473.67 | -263.33 | -1.92% | -5.02% | -13.27% | 18:20:04 |
|
On Sunday, we saw a Gulf market meltdown with stocks falling 7% in Saudi Arabia and 5% or more in the United Arab Emirates and Qatar.
The steep declines came on the heels of Friday’s horrific selloff in US markets and presaged the carnage that would begin to unfold hours later when Asian bourses opened for trading for the week.
As Brent continued to slide, the selloff in Mid-East markets continued unabated on Monday with Saudi Arabia’s Tadawul All Share Index dipping more than 6%, hitting levels last seen in May of 2013.
Brent: Saudi Arabia: UAE: Qatar: “Oil just can’t stop sliding and local investors are very worried about where the bottom is and how long regional economies can take the battering,” one asset manager in Abu Dhabi told Bloomberg, who reminds us that “Middle Eastern stocks had their worst day of the year on Sunday after Saudi Arabia’s index of equities sank more than 20 percent from a peak in April.” And more:
Conclusion:
It appears the world collapse is upon us. The question remains how long will it take to find a bottom and what will the bottom look like when it does arrive?
No matter how prepared you think you are, this could be one of the largest crashes in the history of the world, how do you prepare for something of this magnitude?
Make sure you have food and commodities, you will be able to barter these items. Headlines on Greece this morning, Greece Reverts Back To A Barter Economy As Global Financial System Unravels, Could this be where the world is headed in the coming months?
Good luck and God bless.
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