US markets drop; Dow suffers biggest point decline

08 Nov 2013 Evaluate

The US markets dropped on Thursday, with Dow Jones Industrial Average suffering its biggest point decline since October 8. The blue-chip index finished near its session low following a surprise interest-rate cut in Europe and despite better-than-expected estimate on US third-quarter GDP. The US expanded by a 2.8% annual pace in the third quarter, matching the biggest increase in a year aided by a large buildup in business inventories and an improved trade picture. Yet consumer spending, the main engine of the US economy, slowed to a 1.5% increase from 1.8% in the second quarter, indicating the economy entered the fourth quarter with little momentum. On the positive side, investment in the housing sector remained strong with a 14.6% increase and exports outpaced imports. Exports rose 4.6% vs. a preliminary 1.9% increase in imports.

Also, the number of Americans who applied to receive unemployment benefits fell for the fourth straight week, but initial claims remained above end-of-summer levels, a possible sign of slight deterioration in the US labor market over the past few months. The Labor Department stated that initial jobless claims declined by 9,000 to a seasonally adjusted 336,000 in the week ended November 2. Claims are seen as good proxy for the rate of layoffs occurring in the economy. US consumer credit showed steady growth in September, the Federal Reserve reported. US consumers increased their debt in September by a seasonally adjusted $13.7 billion, down slightly from a revised $14.2 billion gain in August, but very close to the average gain over the past six months.

Meanwhile, William Dudley, the president of the New York Federal Reserve Bank stated that many large financial institutions display an apparent lack of respect for law, regulation, and the public trust. The New York Fed president added that he hoped government efforts to end the too-big-to-fail culture and shift bank focus to longer-term sustainability would foster the needed change.

The Dow Jones Industrial Average dropped 152.90 points or 0.97 percent to 15,594.00, the S&P 500 was down 23.34 points or 1.32 percent to 1,747.15, while Nasdaq lost 74.61 points or 1.90 percent to 3,857.33.

Indian ADRs closed mostly in red on Thursday; Tata Motors was down 1.71%, ICICI Bank was down 0.97%, HDFC Bank was down 0.90% and Dr. Reddy’s Lab was down 0.50%. On the other hand, Infosys was up 0.09%.

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

Fiduciary-first advisory model.
As SEBI-registered IAs, we are legally and ethically bound to act in the best interests of our clients. We do not sell or distribute any financial products. This ensures our guidance is 100% unbiased and conflict-free.
Deep fundamental research + robust valuation discipline.
Built on more than 15 years of equity research, our framework combines quality assessment, intrinsic value estimation, and a sensible margin-of-safety approach.
Process—not predictions.
We don’t rely on guesswork or market timing. Instead, we focus on asset allocation, risk management, and long-term compounding.
Technology + Human Intelligence.
We believe a combination of both is essential for investing success. We constantly innovate and upgrade in-house tools, financial X-rays, and portfolio analytics so that our team of analysts and advisors are equipped with the best.
Partner with Clients.
We follow a DIWM (Do-It-With-Me) approach where we partner clients in setting goals, financial planning, educating on our investing process and share decision-enabling resources transparently with our clients who retain control on execution.

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

MoneyWorks4Me ensures this through:

Investing in stocks, mutual funds, debt, and gold
Quality-at-Reasonable-Price way of investing in stocks
Constructing Direct Stock Portfolios with Core, Booster, and Amplifier stocks
A Mutual Fund Portfolio that delivers consistent out-performance and meaningful diversification (low overlap)
Periodic review and rebalancing
Clear Buy-Sell-Hold, and Position-sizing frameworks

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.