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D O W Crash


kakatiya

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Dow hits correction for first time since 2011

 

The Dow Jones industrial average closed in correction territory Friday amid global growth concerns and continued selling in the oil market.

With a drop of 530 points, the blue chip index was more than 10 percent below its 52-week high (also an all-time intraday high) of 18,351.36. The index reached the mark May 19.

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Chinese market mirroring 1929 crash: Analyst

Chinese stocks are set to fall another 9 percent in the next four or five days and are in danger of replicating the hefty losses seen in the US exchanges in the Wall Street crash of 1929, an analyst has told CNBC.

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"In 1929, the market declined 50.6 percent. So that was a warning that there was something more serious in the market breakdown."

DeMark added that his company turned bearish on China on June 12, just as the market reached a top and has - more or less – correctly predicted the downturn of 38 percent that has occurred since.

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