Stocks turned in dramatic gains of nearly 2% in a late surge on Wednesday, capping a turbulent day that saw trading on the National Stock Exchange (NSE), India’s largest, disrupted for nearly four hours because of a technical glitch.
The outage, the longest such in the country, prompted NSE and its main rival BSE to extend trading hours until 5pm on Wednesday to allow investors to close their positions ahead of Thursday’s expiry of monthly derivatives contracts. Many investors couldn’t as brokerages squared off open positions to mitigate risks. Read more…..
Chart of the Day
Icarus TV
Created by Ray Dalio this simple but not simplistic and easy to follow 30 minute, animated video answers the question, “How does the economy really work?” Based on Dalio’s practical template for understanding the economy, which he developed over the course of his career, the video breaks down economic concepts like credit, deficits and interest rates, allowing viewers to learn the basic driving forces behind the economy, how economic policies work and why economic cycles occur.
