Visual Marketplace Report – August 11, 2015 by Bryan. Brand Media Studio - A Visual Content Marketing Community focusing on visual, social, content generation strategies, techniques, across media and marketing channels.
China's two percent devaluation of the yuan on Tuesday pushed the U.S. dollar higher and hit Wall Street and other global equity markets as it raised fears of a new round of currency wars and fed worries about slowing Chinese economic growth.
U.S. stock indexes slumped more than 1 percent and stocks also fell in Asia and Europe as investors contemplated the implications of a move designed to support China's slowing economy and exports.
Companies that sell to China were hit hard, with heavy equipment maker Caterpillar losing 2.62 percent and Apple Computers losing more than 4.5%. Energy and materials shares also tumbled on China demand concerns. Natural resource company Freeport-McMoRan dropped 13.2 percent and Exxon Mobil sank 1 percent.
The Dow Jones Industrial Average was pounded the worst, dropping 208.49 points, or 1.18 percent, to finish the day at 17406.68. The NASDAQ was also hit hard, primarily being led by Apple’s 5% drop, to finish the day down 65.01 points, or 1.27 percent, to finish at 5026.79. The S&P 500 fared the best, but was still hammered, shredding 19.93 points, or .95 percent, to finish trading 2084.25.
The Visual Marketplace Index actually had an up day today, which is saying something given how Apple pounded the index. In large measure thanks to the offset of Amazon, the Index grew 1.64 points, to finish the day at 258.71.
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