SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

US market plunges on European debt concerns

11 Aug 2011 Evaluate

The US markets resumed their downward journey on Wednesday and erased the prior day’s gains as banks slumped on concern that Europe will fail to contain its debt crisis and that the economy is faltering. Investors were also unnerved by the worries that France may have to support its banks and face a downgrade of its credit rating.

The last session rally that was led with Federal Open Market Committee decision to keep benchmark interest rates near zero to help prop up a recovery, progressing slower than the central bank had anticipated was washed out on concerns of Europe’s sovereign-debt troubles and investor are sensing debt crisis to be brewing larger than anticipated.

Fears of a ‘repeat of 2008’ and also on the growing belief that the economy may be sliding towards recession have led many individual investors to sell stocks and other risky assets. The benchmark indexes came off session lows after Societe Generale, the second biggest bank in France, issued a broad denial of all market rumors following speculation about the nation’s credit worthiness, which sent the expense of insuring French government debt to a high.

The Dow Jones industrial average lost 519.83 points, or 4.62 percent, to 10,719.90. The Standard and Poor's 500 closed lower by 51.77 points, or 4.42 percent, to 1,120.76, while the Nasdaq composite was down by 101.47 points, or 4.09 percent, to 2,381.05. 

The Indian ADRs closed in red on Wednesday, Infosys Technologies was down 2.77%, ICICI Bank was down by 1.95%, HDFC Bank was down by 1.61%, Dr Reddy’s Lab was down by 1.34% and Tata Motors was down by 0.58%.

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×