Investors take money off the table as Dow falls for the eighth consecutive day

By Trevor Hoey. Published at Mar 28, 2017, in Features

In the first full session’s trading since the Trump administration had to withdraw its healthcare bill, US markets and investors demonstrated substantial uncertainty falling from the previous day’s close of 20,596 points to hit an intraday low of 20,413 points, a decline of approximately 0.9%.

However, a mid-session rally resulted in the index hitting a high of 20,578 points before closing at 20,550 points, down 0.2%. While there hasn’t been a substantial sell down on any one day, there were alarming signs in early trading and it should be remembered that today marks the eighth consecutive fall in the Dow.

The NASDAQ bucked the trend, gaining 0.2% to close at 5840 points.

European markets also responded negatively with most of the heavy selling in the UK occurring in the first hour or two of trading prior to the US market opening.

The FTSE 100 fell from the previous day’s close of 7336 points to hit a low of 7256 points before closing at 7293 points, representing a decline of 0.6%.

The DAX was also down 0.6%, closing at 11,996 points. The Paris CAC 40 was relatively flat, closing at 5017 points.

Uncertainty was the common denominator in all markets and in this environment gold found support, at one stage hitting a high of US$1264 per ounce before closing at $1257 per ounce, a gain of 0.5%.

The gold story is likely to be watched closely by technical analysts, particularly given the intraday high exceeded that achieved on February 27, which was the best performance since the US elections, the line in the sand where the price started its sustained decline from circa US$1300 per ounce to US$1120 per ounce in mid-December

The oil price fell heavily in early trading, hitting a low of US$47.08 per barrel before recovering to close at US$47.80 per barrel, down 0.3%.

The iron ore price fell 4.1% to US$81.57 per tonne.

With weakness also in base metals, mining stocks are likely to come under pressure. Glencore plc and BHP Billiton plc fell 4.3% and 3.8% respectively overnight.

The Australian dollar is fetching approximately US$0.76, broadly in line with the previous day.

It should be noted that broker projections and price targets are only estimates and may not be met. Also, historical data in terms of earnings performance and/or share trading patterns should not be used as the basis for an investment as they may or may not be replicated. Those considering this stock should seek independent financial advice.

Where to invest $1,000 right now

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!