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.
During busy periods of the day, an hour or more might elapse before a salesperson has time to fax a requested selloff sheet to an agent.
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.
In late afternoon trading, however, selloffs
of the euro against the yen in cross trading, following reports of weak outlooks for European manufacturers, dragged the dollar -- an intermediary currency -- down further against the yen, a dealer at Asahi Bank said.
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.
The broad selloff in emerging markets over the past two sessions translated into the worst week for global stocks in seven months.
There are good domestic reasons to expect the US economy to be doing well over the year to come, and our central expectation is that while US markets could take a temporary hit (due to the selloff in emerging markets), the shock will not be a major one for the US economy," Deutsche Bank analysts wrote in a note released on Friday.
Summary: DUBAI - UAE shares tripped on Thursday as investors, already anxious about earnings prospects cashed out amid the selloff
in overseas markets.