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US stocks plunged in another trading session with big swings, as equities remained in a tug-of-war with bond yields and investors saw no relief ahead in finding the market's bottom.
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Volatility is back with vengeance, but for how long?
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Extreme volatility is back in the equity markets, and these macro themes should dominate the ASX 200 earnings. We will look out for the drivers that could trigger a reduction in volatility. (This video was produced in commercial partnership between Fairfax Media and IG Markets.)
Treasurer Scott Morrison says there is a "big difference" between what is happening in the Australian economy compared to what is happening in the US after the Dow Jones plunged over 1000 points.
Shani Goldsbro, who has been waiting for an answer to a TPD insurance claim for six years, is hoping the royal commission into the banking and financial services sector will "shine a light" on situations like hers.
US stocks plunged in another trading session with big swings, as equities remained in a tug-of-war with bond yields and investors saw no relief ahead in finding the market's bottom.
While Rogers isn't saying that stocks are poised to enter bear territory now -Â or making any claim to know when they will -Â he says he's not surprised that USÂ equities resumed their sell-off on Thursday and he expects the rout to continue.
"When we have a bear market again, and we are going to have a bear market again, it will be the worst in our lifetime," Rogers, the chairman of Rogers Holdings, said in a phone interview.
"Debt is everywhere, and it's much, much higher now."
The plunge in equity markets resumed on Thursday, as the S&P; 500 Index sank 3.8 per cent, taking its rout since a January 26 record past 10 per cent and meeting the accepted definition of a correction.
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The Dow Jones Industrial Average plunged more than 1000 points, while the losses continued in early Asian trading Friday as the Nikkei 225 Stock Average dropped as much as 3.5 per cent.
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American businessman Jim Rogers has a bearish outlook for global markets. Photo: Ben Rushton
Even this century, the Dow plunged more than 50 per cent during the financial crisis, from a peak in October 2007 through a low in March 2009. It sank 38 per cent from its high during the IT bubble in 2000 through a low in 2002.
Rogers predicts the stock market will experience jitters until the US Federal Reserve increases borrowing costs.
That, he says, will be the point when stocks go up again. He said he'll buy an agriculture index today, reiterating his view that prices of such commodities have been depressed for some time.
"I'm very bad in market timing," Rogers said.
When we have a bear market again, and we are going to have a bear market again, it will be the worst in our lifetime.
Jim Rogers
"But maybe there will be continued sloppiness until March when they raise interest rates, and it looks like the market will rally."