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Tag: fall

Dow crash on Monday biggest fall in absolute terms, 14th in percentage terms

Dow crash on Monday biggest fall in absolute terms, 14th in percentage terms

Finance
NEW DELHI: The 1,175-point fall in Dow Jones was the biggest fall in the history of the US markets, but only in absolute terms. In percentage terms, Monday's fall only ranked 14 th in the list of biggest falls in history. Here are the 14 biggest falls in Dow Jones. The 4.6 per cent decline on Monday has sent shockwaves across the global financial markets. The Hang Seng index fell 1,309.46 points (down 4 per cent), Nikkei crashed 1071.84 points (down 4.73) and the Sensex is down nearly 1,000 points. The fall is particularly alarming for new investors who started putting money in stocks and equity funds in the past 6-12 months. They had got used to seeing double digit returns on their SIP investments. Analysts say return expectations should be toned down because equity markets co...
Dow Jones hit by worst fall since 2008

Dow Jones hit by worst fall since 2008

Business
The Dow Jones Industrial Average has closed down by 1,175 points in the biggest one day fall since the financial crisis.The leading US stock market index closed down 4.6% at 24,345.75.It is the worst drop in points since September 2008 when a plan to rescue the US banking industry was rejected. The decline extended losses on Friday, when strong wage growth data raised the prospect of accelerated interest rate rises. Monday's sell-off surpassed a 777.68 points drop on the Dow Jones on 29 September 2008 when Congress rebuffed a $ 700bn bank bailout plan following the collapse of US investment bank Lehman Brothers earlier that month.US investors are reacting to small but significant changes in the outlook for the US economy, and what that might mean for the cost of borrowing. On Friday, the U...
UK retail sales fall in December

UK retail sales fall in December

Business
UK retail sales fell by 1.5% in December compared with November, a sharper fall than expected.The Office for National Statistics (ONS) said many shoppers had shifted spending to November from December to take advantage of Black Friday offers.For 2017 as a whole, the quantity bought increased by 1.9%, which was the lowest annual growth since 2013.The ONS said the longer-term picture was one of slowing growth, with higher prices squeezing people's spending.Inflation has been outstripping increases in wages, denting the spending power of shoppers.The ONS said that the trend towards online spending was continuing, and that almost one in five pounds was now spent online. Chris Williamson, chief business economist at IHS Markit, said: "The data add to signs that rising prices and stubbornly weak...
UK workforce sees biggest fall in two years

UK workforce sees biggest fall in two years

Business
The number of people in work in the UK has seen its biggest fall in the past two years, but unemployment also fell.UK employment dipped to 32m in the three months to September, down 14,000 from the previous quarter, Office for National Statistics (ONS) data shows.At the same time, the number of jobless - those people not in work but seeking a job - fell 59,000 in the same period.Workers' earnings, including bonuses, rose 2.2% compared with a year ago, which still lags inflation of 3%.The unemployment rate remained steady at 4.3%, and down from 4.8% a year earlier.Matt Hughes, a senior ONS statistician, said employment had declined after two years of "almost uninterrupted growth".He added: "But there was a rise in the number of people who were neither working nor looking for a job - so-call...
Vauxhall plans 400 job cuts at Ellesmere Port as sales fall

Vauxhall plans 400 job cuts at Ellesmere Port as sales fall

Business
Vauxhall is cutting about 400 jobs at its Ellesmere Port car plant due to falling sales.The carmaker, now owned by France's PSA Group - maker of Peugeot and Citroen - is "facing challenging European market conditions," a spokesman said.Ellesmere Port, which makes the Astra models, will move staff from two production shifts to one in early 2018.PSA said that manufacturing costs at Ellesmere were higher than other "benchmark plants" in the group.Vauxhall employs about 4,500 people in the UK, with about 1,800 at Ellesmere Port. The company also has a factory at Luton, which makes vans.PSA became Europe's second biggest carmaker after Volkswagen in August when it completed the purchase of Vauxhall and German brand Opel from US car giant General Motors.UK Prime Minister Theresa May personally s...