Volatility again dominates global markets

Volatility again dominates global markets

Caroline Simmons, the UK's chief investment officer, told Reuters on Thursday that we had big moves. It tends to fall quite quickly when the market falls. Volatility again was prominent Thursday with all major indices reaching well into the red, but by day's end buyers emerged to trim losses and eked out a small gain in the case of the Nasdaq.

Even if you say we're in a bear market, there are rallies within bear markets that can be very sharp, Truist's Keith Lerner told CNBC Thursday. I think that's at least a silver lining in a sea of red and gloom over the last couple of days, given how oversold we are and given how we're starting to see people nibble at some of these areas that have been the most beaten up. After being down more than 250 points earlier in the day, the Dow Jones industrials recovered to be down 103.81 points or 0.33 percent at 31,730. The Standard and Poor's 500 dropped 5.10 points, or 0.13 percent, to 3,930. The Nasdaq Composite gained 6.73 points or 0.06 percent to 11,370. The euro was down more than a full cent to 1.0376 on Thursday, as the U.S. dollar was raging. The British pound dropped to 1.2191. The Swiss franc fell to 1.00377.

The Australian dollar was down to 0.6849. Only the Japanese yen held its own, trading in a tight, firm range around 128.34.

The CAC 40 in Paris dropped 1.01 percent on overseas equity markets. The German Dax fell by 0.64 percent. London's FTSE 100 fell 1.56 percent.

The Nikkei 225 in Tokyo lost 464.92 points or 1.77 percent to close Thursday at 25,748. The Australian All Ordinaries fell by 137.80 points or 1.89 percent to 7,166. China's Shanghai Composite fell by 3.71 points or 0.12 percent to 3,054. In New Zealand, the S&P NZX 50 fell 55.81 points or 0.50 percent to 11,177. The Hang Seng in Hong Kong plunged 444.23 points or 2.24 percent to 19,380.