Stock Market Plummets 400 Points On Opening Day Of 2016 Trading

“It is not surprising to see such a selloff considering negative headlines from China and tensions between Iran and Saudi Arabia. What is surprising is that it is happening on the first day of the year,” said Ryan Larson, head of equity trading at RBC Global Asset Management.

The Dow Jones Industrial Average plunged about 400 points in early trade Monday as a 7% drop in Chinese shares stoked a global selloff in stocks.

The Dow DJIA, -1.94% plunged nearly 411 points to 17,015, led by a drop in DuPont Co. DD, -4.11% and American Express Co. AXP, -2.90%

The S&P 500 SPX, -1.93% fell about 45 points to 1,998, led by a decline in technology stocks, financials and industrials. Only the S&P 500’s energy sector showed a modest gain as Middle Eastern tensions helped lift crude-oil prices.

“It is not surprising to see such a selloff considering negative headlines from China and tensions between Iran and Saudi Arabia. What is surprising is that it is happening on the first day of the year,” said Ryan Larson, head of equity trading at RBC Global Asset Management.

“While trading desk are busier than they normally would be on Mondays, this is not a panic selling, it’s orderly. We are likely to see this kind of volatility a lot in 2016,” Larson said.

The S&P 500-tracking “SPY” ETF opened down nearly 2%. According to Bespoke Investment Group analysts, since the SPY SPY, -1.82% began trading in 1994, the ETF has opened lower on the first trading day of the year only twice in 22 years, and never by more than 1%.

Meanwhile, the Nasdaq Composite COMP, -2.36% tumbled by 138 points to 4,869 as tech stocks took the brunt of Monday’s drop.

NTEB is run by end times author and editor-in-chief Geoffrey Grider. Geoffrey runs a successful web design company, and is a full-time minister of the gospel of the Lord Jesus Christ. In addition to running NOW THE END BEGINS, he has a dynamic street preaching outreach and tract ministry team in Saint Augustine, FL.

  • the other mary


  • Corey

    Orderly selling will very well lead to street panic. Street panic is far worse than a selling panic.

  • Kiwiwatcher

    Didn’t Johanthan Cahn predict this sharemarket slump earlier this year. Although he declared September 13 (Elul 29) as the original date…..the delay can be easily explained as one of his props was made in China. Apparently a small hairline crack was located on his crystal ball which generated an optical illusion, thus early predictions have been slightly askew. Repairs have now been made, and the result shows that 3-4 January 2016 was the actual correct date of the sharemarket slumping. Yaaah! He was correct all along. For more details on other prophetic messages for the year….send $50 to receive a shiny new book with delicious pictures, filled with wonderful details barely anyone can follow. But wait. There is more – a DVD with the master himself speaking to you with some interesting backdrops. The first 25 purchasers will also receive a set of steak knives, and a small bottle of eye salve from the Dead Sea.

    • Guest

      While I can understand your wanting to mock Cahn for seeming like a shyster, there’s one thing nobody can knock him for: at the end of his books, he declares man’s ONLY hope is Jesus and urges people to get saved.

      Say what you will of the Shemitah, but I have reservations about knocking a man who at least has his head on straight when it comes to man’s only means of salvation.

      • Kiwiwatcher

        Thank you Guest – Galatians 6:7 “Be not deceived; God is not mocked…” is really what you were attempting to say. Appreciate the effort.

        Personal favoritism does not blur my discernment, and there is no difficulty in observing his dangerous error in blending a form of Judaism with Christianity, and touting the USA as a type of Israel. Some people would consider the use of God’s instructions to the Jewish Nation, to another nation as a form of Replacement Theology. Stretching the Scriptures in order to market books, DVD etc is obviously a complete no-no.

        No doubts have been raised regarding the man’s salvation, but his effort in portraying JESUS CHRIST’S Salvation message pales into insignificance when compared to the effort spent on HIS (Johanthan’s) ‘prophecy career.’

        Some people more knowledgeable than me state that dear Johanthan uses a Hebrew calendar that is grossly in error.

        Would be fantastic if end-time evangelists stuck to their knitting, and preached the Truth from the Word of God – rather than a message of ‘something interesting I thought up when on holiday.’
        Since when did God use a Jewish numbering system to create the flows and ebbs of the US stockmarket?? Good grief and 9/11?? God thought so much of His chosen people that He included secret but divine messages sprinkled throughout the pages for another country of mixed origins in the last days.

        Unfortunately, more and more Christians will be deceived by the same methods and begin to adopt some form of Judaism in “the falling away,” – to be more ‘Godly.’

  • Peter

    It wont be a surprise if this is the beginning of the end of the Dollar

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