After the benchmark Philippine Stock Exchange index and Allshares index immediately fell upon the opening of trading on Monday, the market managed to withstand the selloff and limit overall losses for the day to only 199.
Following the selloff last Monday, our market suffered a smaller loss on Tuesday.
Whether the abrupt selloff was unusual depends on the time horizon used for comparison.
In the otherwise calm conditions which had prevailed during the previous few trading sessions, the selloff was extremely unusual.
Fax Access, a VMTX Template Work-solutions application, was implemented to allow travel agents to request selloff information by fax whenevery they want it, wouth going through Sunquest's sales staff.
Twenty to 30 agents a day were calling our salespeople and asking them to fax selloff pages," says Paul Larcher, Sunquest's manager of sales planning.
A positive vibe returned to the US stock market on Friday, leaving some to wonder if, after two weeks of losses, the latest selloff scare was over.
Previous spikes of this magnitude have preceded pullbacks in the S&P 500, and the greater the selloff in high-yield debt, the worse the outcome was for stocks.
Thereafter, the market lost steam from selloffs
, which were not necessarily due to profit-taking but, more possibly, by cautiousness developed by the market following its disappointing yearend performance in 2013.
US stocks could be set for another selloff
this week as the Federal Reserve is expected to announce it will keep withdrawing its economic stimulus, further pressuring equities already roiled by a flight from emerging markets.
Summary: DUBAI - UAE shares tripped on Thursday as investors, already anxious about earnings prospects cashed out amid the selloff
in overseas markets.
thus leading to selloff
pressure and deepened losses.