The Financial Saga Continues, but Without a Hero
Yesterday the Chinese stock’s market free fall reverberated on the West Coast, resulting to send back down the major US financial indices and amongst them, the tech stocks suffered most.
Today is another day, but the Chinese markets are still loosing ground and to limit the damages the People’s Bank of China has just injected a huge amount of liquidity with a 7 days repo of $23.4 billion.
After the initial plummets, major US stocks have corrected their trend and the tickers for Apple, Twitter and Intel returned to positive yields, with Apple’s quick swing probably influenced by the CEO’s comments, who told CNBC that the company is seeing “strong growth” in China.
Update 11:17 am – On the European side, this morning markets are tempting to recover from yesterday’s injury by not taking into consideration what is still happening today in the Far East. As a result, the Italian stock market reached +2.6% just after 30 minutes of trading and the Italian government treasury bonds are still lowering their interests since yesterday’s value.