By this point it’s becoming clear that the rally, which first got underway in early March, is finally facing a real test. After a couple weeks of sideways action, in which down days frequently turned into up days, markets are routinely sliding down now.
World stocks are falling for the fourth day in a row:
AP: Early in European trade, benchmarks in Britain, Germany and France were down by about 0.3 per cent each. Stock futures suggested slight gains Thursday on Wall Street. Dow futures rose 2 points to 8,495 and S&P futures gained 0.5, or 0.1 per cent, to 905.80.
Japan’s benchmark Nikkei 225 stock average fell 137.13 points, or 1.4 per cent, to 9,703.72, and Hong Kong’s Hang Seng dropped 307.94, or 1.7 per cent, to 17,776.66.
South Korea’s Kospi lost 1.1 per cent, Australia’s key index was down 0.3 per cent and Taiwan’s benchmark pulled back 0.8 per cent. Read the whole thing >