As if investors didn’t have enough global conflicts on their plate already. The Hong Kong protest is the latest geopolitical stir to snag Wall Street’s attention.
New York, United States - September 29, 2014 /MarketersMedia/ --
Pro-democracy protests in Hong Kong shook the markets today. As if investors didn’t have enough global conflicts on their plate already. The Hong Kong protest is the latest geopolitical stir to snag Wall Street’s attention, and cause investors to pare back their risk-taking. Last week, U.S. markets went on a volatile ride primarily driven by global uncertainty in Iraq, Syria and the Ukraine. For the day, the three major indexes dropped.
Today was not a good day for Ford (F) either. Share prices fell dramatically (7.47%) after the company warned that losses in Russia will delay a return to profitability in Europe and that this year’s big losses in South America will continue. Adding fuel to the fire was their additional announcement that last Friday’s recall of 850,000 vehicles for a short-circuiting problem with an air bag control module will cost about $500 million to fix. Ouch!
The news wasn’t all bad today though. One of the largest gainers was Iron Mountain Inc (IRM), whose shares gained 5.71%. The data management company announced today that it plans to acquire Recall Holdings Ltd (RCLHF) for more than $2 billion. Recall is a provider of information management solutions and trades on the ASX, but conducts most of its business in the U.S.
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Source: http://marketersmedia.com/rattled-by-hong-kong-protests-markets-pull-back/64576
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