The increased negative activity in the stock market resulted in the Dow Jones and Apple (NASDAQ: AAPL) taking its toll and suffering badly. The results were worse than what was a low previously two months ago. Dow Jones ended at a low of almost 265 points where as Apple (NASDAQ: AAPL) saw a drop in its technology assets. For what is being stated as a fourth consecutive worst day for the stock market, Dow Jones closed 1% below 17,000 that is at 16,945.80, which is a drop of almost 264.26 points. As a result of this, almost all the stocks in the market were traded off at a lower price range.
The worst close of the day was on Nasdaq composite, with a loss of 88.47 points. The second after Nasdaq was the Standard & Poor’s key drop of almost 500 points. The major reason behind the loss of Nasdaq’s share was the rejection of Apple (NASDAQ: AAPL) shares by almost 3.8%. This caused the shares to be closed at the price range of even below $98.
By midweek, on Wednesday, Dow had started to recover its pace by an increase of 154 points. Another major stock entered the market with its biggest first unrestricted offer, the Alibaba Group. This company made its debutant at the New York Stock Exchange as an IPO. On the other hand Nasdaq as well as Standard & Poor have been losing for consecutive four days.
The market expectation for the next 30 day time period has increased by 25% this Thursday. There is a certain amount of instability within the stock market, which has started after mostly calm trading in the month of September. Market analysts are extremely worried that such unpredictability in the market can cause lack of confidence among investors. If the unsettling situation continues, the stock market is looking forward for more trouble.
The iPhone 6 after making its record sales on the opening weekend has now started to have a negative effect on Apple’s (NASDAQ: AAPL) stock price. The Apple Incorporation (NASDAQ: AAPL) has shown the worst downfall in its assets for the second consecutive day, when the shares closed at less than $100. This crisis is associated with the fact that iPhone 6 is encountering serious technological and operational problems soon after its release.
Economic news was also not satisfactory when it was reported that there has been an 18.2% decline since August in the purchasing of hardware goods, especially those associated with aircrafts. There was a slight increase in the benefits provided to the unemployed applicants, but despite this, the fact that the situation is still really bleak cannot be over looked.
The Asian markets have their own story to tell of ups and downs; Japan’s Nikkei index increased by 0.3% to 16,734.14 whereas the Hong Kong’s Hang Seng index declined by 0.6% to 23,768.13. The European market’s decline was associated with the fall in the Wall Street’s index. Both these markets are greatly interlinked, and as a result Britain’s FTSE and Germany’s DAX fell by 1% and 1.6% respectively.