Stocks closed down again today on the final trading day of the week and a headline on CNBC today got a lot of people’s attention.
“World economy seems trapped in ‘death spiral.”-according to Citigroup
According to CNBC:
Some analysts — including those at Citi — have turned bearish on the world economy this year, following an equity rout in January and weaker economic data out of China and the U.S. “The world appears to be trapped in a circular reference death spiral,” Citi strategists led by Jonathan Stubbs said in a report on Thursday. “Stronger U.S. dollar, weaker oil/commodity prices, weaker world trade/petrodollar liquidity, weaker EM (and global growth)… and repeat. Ad infinitum, this would lead to Oilmageddon, a ‘significant and synchronized’ global recession and a proper modern-day equity bear market.
See more below.
Here are the final numbers from Friday, 2/5/16 on Wall Street
Dow Jones Industrial Average: 16,204.97 (-211.61 / -1.29 %)
NASDAQ: 4,363.14 (-146.41 / -3.25 %)
S&P 500: 1,880.05 (-35.40 / -1.85 %)