More than half of the members of the CNBC Global CFO Council think the Dow Jones Industrial Average will fall below 23,000 — roughly 2,000 points from its current level — before the stock market barometer is ever able to top the 27,000 level. The 23,000 level would equate to another 8 percent in decline among the Dow group of stocks before the selling stops. The Dow dropped by more than400 points on Monday.
· European stocks opened higher Wednesday morning, clawing their way back from the sharp losses sustained in the previous session.
The pan-European Stoxx 600 was up around 0.4 percent shortly after the opening bell, with most sectors and major bourses in positive territory.
· Asian stocks slipped on Wednesday as intensifying concerns about global economic growth gripped financial markets, sending Wall Street shares tumbling and driving the safe haven dollar up from a two-week low.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 0.45 percent.
· Japan’s Nikkei visited three-week lows and ended weaker on Wednesday after Wall Street’s tumble hit sentiment, while falling oil prices dragged down resource and trading-house shares.
The Nikkei share average closed 0.4 percent lower at 21,507.54 after touching 21,243.38 in early trade, the lowest since Oct. 30.
· Shares in China edged lower in choppy trading on Wednesday as a continued selloff on Wall Street and a plunge in oil prices stirred uncertainty over the global economy.
At the midday break, the Shanghai Composite index was down 0.13 percent at 2,642.46 points. The index plunged more than 2percent on Tuesday.
Reference: Reuters, CNBC
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