There are now genuine fears of deflation in Chine and recession in the US. We will need to keep our eyes on what is happening over the next few months as there could be major corrections in stock markets.
In Europe, the FTSE fell 79 points (.92%), the DAX fell 387 points (1.69%) and the CAC fell 73 points (.90%).
German exports fell 2.5% in January.
US markets got hammered overnight. They improved over the last hour of trade. At one stage, the DOW was down over 1,000 points and the NASDAQ was down 5%.
The DOW fell 889 points (2.08%), The NBI fell 23 points (.51%), the NASDAQ Composite fell 727 points (4.00%), and the Russell small cap index fell 56 points (2.72%).
US CPI data is out on Wednesday.
CboE VIX data showed a rise in volatility.
Trump acknowledged that the US economy is being adversely affected and is in a "period of transition.
US Gov't shutdown this week has now been given a 33% chance of happening.
Crypto currencies plunged as investors become more risk averse.
US Treasury 10 year bond yield is at 4.23%
Oil prices fell - Brent crude is at $69.22 per barrel.
Precious metal prices fell - gold is at US$2,885 per oz.
BITCOIN fell to US$79,038.
IMU Price at posting:
3.5¢ Sentiment: Buy Disclosure: Not Held
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