U.S. stocks fell sharply on Thursday on revived fears of an economic slowdown in China. The concerns centered on a new preliminary report showing that Chinese manufacturing activity actually contracted in the month of January, for the first time in six months. The news spooked global investors and drove them out of riskier assets. Stocks and currencies in emerging markets also suffered. (For example, Argentina’s currency fell by the sharpest level in over a decade.) Meanwhile, the report on manufacturing activity in the Eurozone area showed improvement, but European stocks still fell by 1% on the negative news out of China. China’s precarious economic situation continues to threaten a major worldwide selloff in risky assets like stocks. Gold prices, however, rose to a new three month high today as investors moved towards safety.
Gold surged more than 2% on Thursday, notching its biggest one-day rally in three months as sharp losses in U.S. equities and disappointing Chinese manufacturing data lifted bullion’s safe-haven appeal.
The frenetic buying of gold in China, which led to a temporary shortage of inventory, was sparked by the 28% fall in the precious metal’s price last year.
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The captain reported a “near miss” with a “rugby ball”-shaped UFO, which passed within feet of his jet.
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“Archiving the Rise of Big Brother, the Erosion of Personal Liberty, and the Fall of the Republic”
The United States’ habit of arresting criminals has not only resulted in the world’s largest prison population, but also this: more than 40% of all men in the country are arrested by their early twenties.
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