World Economy
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Global Market Rout Eases

Global Market Rout EasesGlobal Market Rout Eases

Financial markets stabilized after a rout Monday that wiped $800 billion off global equities, Bloomberg reported. US equity-index futures rose. Crude oil advanced with the currencies of commodity-producing nations. The Stoxx Europe 600 Index pared declines as Glencore Plc–which slumped 29% on Monday–rebounded. “We may have seen the worst of the selling,” said James Buckley, a money manager who oversees about $43 billion at Baring Asset Management in London. Standard & Poor’s 500 Index E-mini futures expiring in December advanced 0.4% in London, after the gauge gave up 2.6% Monday. West Texas Intermediate crude climbed 0.9% to $44.82 a barrel, and Glencore jumped 8.6%.

Financialtribune.com