SANTA TUMBLES ON SLIPPERY MARKETS

Nikkei plunges 5% after worst ever Christmas Eve trading in the US

tokyo — The markets are in a turmoil in the run-up to the new year. Japan’s Nikkei retreated to a 20-month low on Tuesday after US stocks had their worst Christmas Eve on record owing to a series of unnerving US political developments. Oil prices plunged more than 6 per cent to the lowest level in more than a year the previous day as fears of an economic slowdown rattled the market.

The Nikkei ended on Tuesday down 5.01 per cent at 19,155.74 after brushing 19,117.96, its lowest since late April 2017. The broader Topix closed 4.88 per cent lower at 1,415.55 after touching 1,412.90, its weakest since November 2016.

China stocks fell over 2 per cent on Tuesday morning but recovered much of the losses by the close, aided by a late rebound in financial shares. Many financial markets in Asia, Europe and North America are closed on Tuesday for Christmas Day.

Wall Street stocks extended their steep sell-off on Monday, with the S&P 500 down nearly 15 per cent so far this month, as investors were rattled by the US Treasury secretary’s convening of a crisis group and by other political developments. —

The only problem our economy has is the Fed. They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can’t score because he has no touch - he can’t putt! Donald Trump @realDonaldTrump