Stock market traders are really ready for the weekend. Stocks have been taking beating this week. As of writing, the Dow Jones Industrial Index is down over 700 points for the week. Stocks fell again on Friday as the Dow tanked in the last hour falling 192 points for the day.
What’s battering the market is the signs that China’s economy and the entire world economy for that matter is set to have a rough 2016. Earlier this week, China curbed trading after the Shanghai Stock Exchange had a sharp sell off. The Chinese scrapped those trading curbs and the world markets rallied until Friday afternoon in the U.S. Still, the Shanghai exchange lost one-tenth of its value this week.
This comes as signs that both the U.S. and global economies are showing signs of weakening. Although the jobs report was better than expected, wages remain stagnant and manufacturing is showing signs of weakness. This is in addition to the continued weakness in the energy sector as oil prices remain at near record lows and the Obama administration continues its war on coal.
All of this are signs that the economy is continuing to stagnate. The 2016 candidates need to have plans to revive the economy or they will be pay the price on election day.
AAN Staff
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