From 30th April to 31 May the Dow fell over 10%. The Fund fell 20% in the same time period. The greater the risk the greater the drop, as it was high risk stocks that took the brunt of the fall. Only Vodafone and TSEM survived above purchase, and Dell which put in very poor results just before the drop fell the most. Carrefour suffered from the decline of the Euro as well as a small drop. The market is driven by fear at the moment and is selling anything that has high risk and is likely to be affected by a European meltdown. For example the US Technical Company index fell over 13%.
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