ant
28-02-2007, 07:57 AM
kỷ lục trong vòng 5 năm rưỡi trở lại đây.
Theres all sorts of ways in which investors are going to try to pull this apart (those who arent going to go home and bite a pillow for several hours, that is), but its also instructive to just lay out in numbers just what happened today.
Date Close Net Change % Change
09/17/2001 8920.70 -684.81 -7.13
04/14/2000 10305.77 -617.78 -5.66
10/27/1997 7161.15 -554.26 -7.19
08/31/1998 7539.07 -512.61 -6.37
10/19/1987 1738.74 -508.00 -22.61
03/12/2001 10208.25 -436.37 -4.10
02/27/2007 12216.24 -416.02 -3.29
07/19/2002 8019.26 -390.23 -4.63
09/20/2001 8376.21 -382.92 -4.37
10/12/2000 10034.58 -379.21 -3.64
* The nearby chart shows that this was the seventh-worst day on the Dow industrials in terms of point losses, and the worst day in five-and-a-half years. On the other hand, a decline of 3.3% doesnt even approach the worst one-day percentage losses for the index it was, however, the biggest percentage drop since March 24, 2003.
* MarketBeat mentioned earlier that all but one component of the Dow industrials, utilities, and transports were in the red but CH Robinson Worldwide couldnt hold up the markets alone, and it ended the day down 1.4%, putting every component of the three major Dow averages underwater on the day.
* Composite volume on the New York Stock Exchange was a record, surpassing more than four billion shares for the first time in history. Composite volume reached 4.31 billion shares, breaking the previous record of 3.58 billion shares. Similarly, composite volume on the Nasdaq reached 3.13 billion, breaking the old record of 3.09 billion.
* Every single one of the Dow Jones industry indexes finished lower on the day. The best performing sector was the brewers, which lost 1.2% on the day. General mining stocks were the worst, losing 9%.
* The Nasdaq Composite Index and S&P 500 index experienced the biggest one-day point decline since Sept. 17, 2001, the first day of trading after the 9/11 terrorist attacks.
* The S&P 500 Small-Cap 600 recorded its biggest point loss in history, falling 14.72 points, or 3.5%.
* It was the worst percentage loss for the Russell 2000 since Oct. 9, 2002.
Stocks Fall on Weak Economic Data,
Geopolitical Woes, Shanghai Tumble
By JOANNA L. OSSINGER
February 27, 2007 6:43 p.m.
A confluence of troubles led to the worst day for the U.S. stock market in more than five years.
Though it later recovered some of its losses, the Dow Jones Industrial Average was briefly down as much as 546.20 points after a nearly instantaneous drop of about 200 points right around 3:00 p.m. EST.
The Dow Jones Industrial Average ended the day down 416.02, or 3.3%, to 12216.24, its seventh-largest point decline ever.
The Nasdaq Composite Index dropped 96.65, or 3.9%, to 2407.87, with decliners outnumbering gainers by more than 11 to one. The S&P 500 lost 50.33, or 3.9%, to 1399.04.
It was the worst day for all three major indexes since Sept. 17, 2001, the first day of stock trading after the Sept. 11 terror attacks. All three major indexes are now in the red for the year. The Russell 2000 index of small-capitalization stocks declined 3.8%.
"It's almost like the selling [was] a cascade -- it just started and it just kept going," said Ryan Detrick, analyst at Schaeffer's Investment Research.
The NYSE Composite Index hit a 180-point drop, triggering New York Stock Exchange collars on index-arbitrage trading, at around 1:00 p.m. It ended down 313.12 points, a decline of 3.3%.
MARKETS ON THE MOVE
European Indexes Fall
Asian Indexes End Lower
U.S. Stocks Fall Amid Concerns About Growth
"We were ripe" to come off the recent market highs, said Doug Peta, market strategist for J. & W. Seligman. "Everybody has been talking about waiting for a correction."
Trading volumes hit record levels on the New York Stock Exchange, where more than 2.3 billion shares exchanged hands. More than 3 billion shares traded on the tech-heavy Nasdaq stock market. Declining issues outpaced gainers by 29 to 4 on the NYSE and by 14 to 1 on the Nasdaq.
The sudden decline by the Dow Jones Industrial Average shortly before 3:00 p.m. was made to appear sharper by a tabulation delay in Dow Jones data systems, which calculates the average. There was a temporary lag, much like a clogged pipe, in calculation of the 30 large-stock average due to a surge in order flows as the market continued to tumble in afternoon trading. Shortly before 3:00 p.m., Dow Jones Indexes switched over to a backup system to calculate the average, which nearly instantly registered the huge move.
The glitch wasn't the cause of the decline, but it did cause the drop to register far more quickly than it otherwise would have. Other indexes fell at the same time, but more gradually. Some traders noticed a discrepancy between futures contracts tied to the Dow industrials and the index, which directly tracks the stocks. Usually, the futures contracts closely track the overall average.
"There was a huge disconnect between the Dow futures and the Dow average" of about 200 points, said Brian Williamson, an equity trader at Boston Company Asset Management.
There was also apparently technical trouble at the NYSE. "Toward the end of trading today, we experienced intermittent delays and are currently assessing the situation," a NYSE spokesman said after the closing bell.
NYSE composite and Nasdaq volume set a record.
Shanghai's Composite Index shed nearly 9% -- the biggest decline in a decade -- on what analysts said were widespread efforts by investors to cash in on big gains and avoid any government attempts to cool the markets. "China reminded everyone that there are some risks in the emerging markets," Mr. Peta said. The drop in China's benchmark stock index sent ripples through markets around the world.
Early Tuesday, the Commerce Department said January durable-goods orders fell 7.8% to a seasonally adjusted $203.90 billion. The decline in orders surprised economists, who expected a 3.2% drop. Timothy Rogers, chief economist at Briefing.com, pointed to a decrease in capital-goods orders, "the bread and butter of the manufacturing side," as an area of particular concern. "I think it's just a mid-cycle stall," he added. "The fundamentals are still strong."
Existing-home sales for January rose 3%, the biggest percentage gain in two years, according to data from the National Association of Realtors. Year-over-year, sales were down 4.3% and the median sales price was off 3.1%.
Recent concerns about the health of the subprime-lending industry may have helped precipitate the market decline as well, as investors worried about housing and an effect on the broader economy, though stocks related to that sector didn't show particular weakness Tuesday.
Investors were also concerned about news from Iran and Afghanistan. Iran's foreign minister reportedly said Tuesday that the country would never again suspend its uranium-enrichment program. In Afghanistan, a suicide bomber killed at least three people near the main U.S. military base where Vice President Dick Cheney was visiting. The Taliban claimed responsibility, naming Mr. Cheney as the target of the attack.
All but three Dow stocks declined more than 2%. Alcoa fell 4.7%, Caterpillar was off 3.6%, General Motors declined 5.4% and DuPont lost 3.4%. Boeing contributed significantly to the durable-goods slowdown, but fell a relatively small 2%. Its shares had been declining recently, so some of the negativity might already have been priced into the stock.
The Dow's tech components also took it on the chin, with Intel down 3.9%, AT&T weaker by 3.6%, Verizon Communications 4.6% lower and International Business Machines off 3%. Also, Walt Disney declined 5.7%.
Treasurys were up markedly, as investors sought a safe haven amid the weak economic news, geopolitical tensions and market turmoil.
RadioShack served as a rare bright spot on the day. It reported 65% higher fourth-quarter profit, despite lower revenue, as the bottom line was helped by improved gross margin, lower expenses and reduced interest expenses. The stock rose 12% to $25.13.
Crude-oil prices recovered from an earlier stumble to rise seven cents to $61.46 a barrel.
The Commerce Department is due to report a revision of fourth-quarter gross-domestic product growth on Wednesday for a reading of broader economic health. The preliminary figure was an annualized, inflation-adjusted 3.5%, and economists are expecting it to be revised down at least a full percentage point.
In major market action:
Stocks declined. On the New York Stock Exchange Tuesday, 458 stocks advanced and 2,921 declined on volume of 2.34 billion shares.
Bonds rose. The 10-year Treasury note added 30/32, or $9.375 for every $1,000 invested, yielding 4.513% Tuesday. The 30-year bond was up 1 21/32, yielding 4.631%.
The dollar weakened. The euro was at $1.3236 from $1.3184 at Monday's close. The dollar was at 117.98 yen from 120.57 yen late Monday.
--Scott Patterson and Aaron Lucchetti contributed to this article.
Write to Joanna L. Ossinger at Joanna.Ossinger@wsj.com
Theres all sorts of ways in which investors are going to try to pull this apart (those who arent going to go home and bite a pillow for several hours, that is), but its also instructive to just lay out in numbers just what happened today.
Date Close Net Change % Change
09/17/2001 8920.70 -684.81 -7.13
04/14/2000 10305.77 -617.78 -5.66
10/27/1997 7161.15 -554.26 -7.19
08/31/1998 7539.07 -512.61 -6.37
10/19/1987 1738.74 -508.00 -22.61
03/12/2001 10208.25 -436.37 -4.10
02/27/2007 12216.24 -416.02 -3.29
07/19/2002 8019.26 -390.23 -4.63
09/20/2001 8376.21 -382.92 -4.37
10/12/2000 10034.58 -379.21 -3.64
* The nearby chart shows that this was the seventh-worst day on the Dow industrials in terms of point losses, and the worst day in five-and-a-half years. On the other hand, a decline of 3.3% doesnt even approach the worst one-day percentage losses for the index it was, however, the biggest percentage drop since March 24, 2003.
* MarketBeat mentioned earlier that all but one component of the Dow industrials, utilities, and transports were in the red but CH Robinson Worldwide couldnt hold up the markets alone, and it ended the day down 1.4%, putting every component of the three major Dow averages underwater on the day.
* Composite volume on the New York Stock Exchange was a record, surpassing more than four billion shares for the first time in history. Composite volume reached 4.31 billion shares, breaking the previous record of 3.58 billion shares. Similarly, composite volume on the Nasdaq reached 3.13 billion, breaking the old record of 3.09 billion.
* Every single one of the Dow Jones industry indexes finished lower on the day. The best performing sector was the brewers, which lost 1.2% on the day. General mining stocks were the worst, losing 9%.
* The Nasdaq Composite Index and S&P 500 index experienced the biggest one-day point decline since Sept. 17, 2001, the first day of trading after the 9/11 terrorist attacks.
* The S&P 500 Small-Cap 600 recorded its biggest point loss in history, falling 14.72 points, or 3.5%.
* It was the worst percentage loss for the Russell 2000 since Oct. 9, 2002.
Stocks Fall on Weak Economic Data,
Geopolitical Woes, Shanghai Tumble
By JOANNA L. OSSINGER
February 27, 2007 6:43 p.m.
A confluence of troubles led to the worst day for the U.S. stock market in more than five years.
Though it later recovered some of its losses, the Dow Jones Industrial Average was briefly down as much as 546.20 points after a nearly instantaneous drop of about 200 points right around 3:00 p.m. EST.
The Dow Jones Industrial Average ended the day down 416.02, or 3.3%, to 12216.24, its seventh-largest point decline ever.
The Nasdaq Composite Index dropped 96.65, or 3.9%, to 2407.87, with decliners outnumbering gainers by more than 11 to one. The S&P 500 lost 50.33, or 3.9%, to 1399.04.
It was the worst day for all three major indexes since Sept. 17, 2001, the first day of stock trading after the Sept. 11 terror attacks. All three major indexes are now in the red for the year. The Russell 2000 index of small-capitalization stocks declined 3.8%.
"It's almost like the selling [was] a cascade -- it just started and it just kept going," said Ryan Detrick, analyst at Schaeffer's Investment Research.
The NYSE Composite Index hit a 180-point drop, triggering New York Stock Exchange collars on index-arbitrage trading, at around 1:00 p.m. It ended down 313.12 points, a decline of 3.3%.
MARKETS ON THE MOVE
European Indexes Fall
Asian Indexes End Lower
U.S. Stocks Fall Amid Concerns About Growth
"We were ripe" to come off the recent market highs, said Doug Peta, market strategist for J. & W. Seligman. "Everybody has been talking about waiting for a correction."
Trading volumes hit record levels on the New York Stock Exchange, where more than 2.3 billion shares exchanged hands. More than 3 billion shares traded on the tech-heavy Nasdaq stock market. Declining issues outpaced gainers by 29 to 4 on the NYSE and by 14 to 1 on the Nasdaq.
The sudden decline by the Dow Jones Industrial Average shortly before 3:00 p.m. was made to appear sharper by a tabulation delay in Dow Jones data systems, which calculates the average. There was a temporary lag, much like a clogged pipe, in calculation of the 30 large-stock average due to a surge in order flows as the market continued to tumble in afternoon trading. Shortly before 3:00 p.m., Dow Jones Indexes switched over to a backup system to calculate the average, which nearly instantly registered the huge move.
The glitch wasn't the cause of the decline, but it did cause the drop to register far more quickly than it otherwise would have. Other indexes fell at the same time, but more gradually. Some traders noticed a discrepancy between futures contracts tied to the Dow industrials and the index, which directly tracks the stocks. Usually, the futures contracts closely track the overall average.
"There was a huge disconnect between the Dow futures and the Dow average" of about 200 points, said Brian Williamson, an equity trader at Boston Company Asset Management.
There was also apparently technical trouble at the NYSE. "Toward the end of trading today, we experienced intermittent delays and are currently assessing the situation," a NYSE spokesman said after the closing bell.
NYSE composite and Nasdaq volume set a record.
Shanghai's Composite Index shed nearly 9% -- the biggest decline in a decade -- on what analysts said were widespread efforts by investors to cash in on big gains and avoid any government attempts to cool the markets. "China reminded everyone that there are some risks in the emerging markets," Mr. Peta said. The drop in China's benchmark stock index sent ripples through markets around the world.
Early Tuesday, the Commerce Department said January durable-goods orders fell 7.8% to a seasonally adjusted $203.90 billion. The decline in orders surprised economists, who expected a 3.2% drop. Timothy Rogers, chief economist at Briefing.com, pointed to a decrease in capital-goods orders, "the bread and butter of the manufacturing side," as an area of particular concern. "I think it's just a mid-cycle stall," he added. "The fundamentals are still strong."
Existing-home sales for January rose 3%, the biggest percentage gain in two years, according to data from the National Association of Realtors. Year-over-year, sales were down 4.3% and the median sales price was off 3.1%.
Recent concerns about the health of the subprime-lending industry may have helped precipitate the market decline as well, as investors worried about housing and an effect on the broader economy, though stocks related to that sector didn't show particular weakness Tuesday.
Investors were also concerned about news from Iran and Afghanistan. Iran's foreign minister reportedly said Tuesday that the country would never again suspend its uranium-enrichment program. In Afghanistan, a suicide bomber killed at least three people near the main U.S. military base where Vice President Dick Cheney was visiting. The Taliban claimed responsibility, naming Mr. Cheney as the target of the attack.
All but three Dow stocks declined more than 2%. Alcoa fell 4.7%, Caterpillar was off 3.6%, General Motors declined 5.4% and DuPont lost 3.4%. Boeing contributed significantly to the durable-goods slowdown, but fell a relatively small 2%. Its shares had been declining recently, so some of the negativity might already have been priced into the stock.
The Dow's tech components also took it on the chin, with Intel down 3.9%, AT&T weaker by 3.6%, Verizon Communications 4.6% lower and International Business Machines off 3%. Also, Walt Disney declined 5.7%.
Treasurys were up markedly, as investors sought a safe haven amid the weak economic news, geopolitical tensions and market turmoil.
RadioShack served as a rare bright spot on the day. It reported 65% higher fourth-quarter profit, despite lower revenue, as the bottom line was helped by improved gross margin, lower expenses and reduced interest expenses. The stock rose 12% to $25.13.
Crude-oil prices recovered from an earlier stumble to rise seven cents to $61.46 a barrel.
The Commerce Department is due to report a revision of fourth-quarter gross-domestic product growth on Wednesday for a reading of broader economic health. The preliminary figure was an annualized, inflation-adjusted 3.5%, and economists are expecting it to be revised down at least a full percentage point.
In major market action:
Stocks declined. On the New York Stock Exchange Tuesday, 458 stocks advanced and 2,921 declined on volume of 2.34 billion shares.
Bonds rose. The 10-year Treasury note added 30/32, or $9.375 for every $1,000 invested, yielding 4.513% Tuesday. The 30-year bond was up 1 21/32, yielding 4.631%.
The dollar weakened. The euro was at $1.3236 from $1.3184 at Monday's close. The dollar was at 117.98 yen from 120.57 yen late Monday.
--Scott Patterson and Aaron Lucchetti contributed to this article.
Write to Joanna L. Ossinger at Joanna.Ossinger@wsj.com