What is Causing the Stock Market Selloff? Most people have been blaming China for the current market selloff. However, the issue is much bigger than that. The recent devaluation of the Chinese yuan has sent shockwaves through global stock markets as it was meant to cut the cost of Chinese exports on the world markets and in return increase demand from other countries importing their wares.
Tune in this week for a critical stock market edition of Smart Money with Keith Springer. The recent plunge has investors worried once again and understanding what is driving these markets and what steps you need to take to protect your hard earned assets is essential, especially for retirees and those close to retiring. Don’t miss this show as we will unveil specific investment strategies you may need to take for your portfolio right now!
Today’s market action was nothing less than scary, opening down 1000 points. The good thing about “scary” is that it often signifies a capitulation. That means people throwing in the towel. Often this signifies a bottom. Much of the selling was computer driven as the market is driven by algorithm trading and not human thought.…
China surprised the world by allowing the Yuan, it’s official currency, to float freely for the first time in 25 years. This quickly devalued it 3.6% in two days, which is a huge move. Interesting fact, the other name for the Yuan is the Renminbi, which is the local currency of “the people”.