Charting the Markets: The Week to Forget for Global Stock Investors
Global stocks are falling for a fifth day as energy companies track the price of oil lower. Crude oil is dropping for a sixth day, the longest losing streak since March. In that period it's sunk by 11 percent after OPEC effectively binned its production targets. The Bloomberg World Energy Index is heading for its third weekly drop, its worst run since August.
Wednesday's Federal Reserve interest rate decision is getting closer, and investors are becoming more cautious. The MSCI All Country World Index is set for a third weekly decline. Since the gauge closed at an almost three-month high on Nov.3, it has slipped 3.7 percent. Still, it's rebounded from a two-year low in September. Emerging market stocks are dropping for an eighth day, the longest losing run since June. A slump in commodity prices to a 16-year low, concerns about China's economic slowdown and the prospect of higher U.S. interest rates lessen the appeal of riskier assets.