Markets Drop as Decision on Syria Looms

4 years 8 months 2 weeks ago Sunday, September 01 2013 Sep 1, 2013 Sunday, September 01, 2013 2:21:00 PM CDT September 01, 2013 in News
By: Jen Lask, KOMU 8 Reporter
loading

COLUMBIA - The S&P closed out August at its lowest point all month. 

The S&P dropped .32% this past week, while the Dow Jones Industrial Average and NASDAQ slipped .21% and .84% respectively. Analysts attributed August's low close to the looming possibility of a limited-action strike in Syria. Stocks began dropping Friday after Secretary of State John Kerry accused the Syrian government of using chemical weapons on its citizens and President Barack Obama called for a military response. 

Analysts say unrest in the Middle East contributed not only to stocks dropping, but also to gas prices climbing during Labor Day Weekend. Historically, drivers have seen lower costs at the gas pumps during the three-day holiday weekend. However, the cost of gas spiked more than 10-cents throughout Missouri between Kerry's speech on Friday and the end of the weekend. While Syria itself does not produce a significant amount of oil, analysts say starting in July, the political upheaval in Egypt has led to a steady rise in cost. 

Analysts predict August's weak ending will transition into a bleak September. Historical charts show September is traditionally the worst month of the year for stocks. Additionally, the unrest in Syria is expected to continue creating market instability.

The heated debate between Obama and Republicans regarding the debt ceiling is also expected to contribute to a stock market downturn in September. In 2011, when lawmakers initially extended the debt ceiling deadline to October 2013, the nation's AAA credit-rating took a hit and consumers saw a major stock market sell-off. 

Finally, the Federal Reserve is set to make a decision regarding pulling back bond purchases. Analysts predict the release of August's jobs report will play a large factor in this decision. 

More News

Grid
List
FULTON - All 6-year-old Sam Santhuff wanted to do was comfort children in the hospital, even though he was there... More >>
32 minutes ago Sunday, May 20 2018 May 20, 2018 Sunday, May 20, 2018 6:47:00 AM CDT May 20, 2018 in News
KINGDOM CITY- The Fire Fighters Memorial Foundation of Missouri will honor three firefighters who died in the line of duty.... More >>
11 hours ago Saturday, May 19 2018 May 19, 2018 Saturday, May 19, 2018 7:53:00 PM CDT May 19, 2018 in News
CAMDEN COUNTY - The Missouri State Highway Patrol has released the identities of the three people killed and the two... More >>
12 hours ago Saturday, May 19 2018 May 19, 2018 Saturday, May 19, 2018 6:42:00 PM CDT May 19, 2018 in News
COLUMBIA - Children in Columbia have a chance to get paid to play. Columbia Parks and Recreation started its... More >>
13 hours ago Saturday, May 19 2018 May 19, 2018 Saturday, May 19, 2018 6:10:00 PM CDT May 19, 2018 in News
HAVANA (AP) — The Latest on the crash in Cuba of a passenger jet with 113 people on board (all... More >>
13 hours ago Saturday, May 19 2018 May 19, 2018 Saturday, May 19, 2018 5:23:00 PM CDT May 19, 2018 in News
COLUMBIA - Over 90 people showed up at the Burr Oak Brewery for an afternoon of puppies, yoga and beer... More >>
14 hours ago Saturday, May 19 2018 May 19, 2018 Saturday, May 19, 2018 4:50:00 PM CDT May 19, 2018 in News
COLUMBIA - Although it is nowhere near Halloween, some Columbia runners faced their fears by participating in a zombie-themed 5K... More >>
20 hours ago Saturday, May 19 2018 May 19, 2018 Saturday, May 19, 2018 11:12:00 AM CDT May 19, 2018 in News
COLUMBIA- The city of Columbia has been ranked a top-ten affordable college town to live in by realtor.com. Factors... More >>
20 hours ago Saturday, May 19 2018 May 19, 2018 Saturday, May 19, 2018 10:41:00 AM CDT May 19, 2018 in News
ST. LOUIS (AP) — The Mississippi River is above flood stage at several northeast Missouri locations, but forecasters do... More >>
21 hours ago Saturday, May 19 2018 May 19, 2018 Saturday, May 19, 2018 9:29:44 AM CDT May 19, 2018 in Continuous News
(CNN) -- And they're married! Britain's Prince Harry and US actress Meghan Markle were wed Saturday at Windsor... More >>
1 day ago Saturday, May 19 2018 May 19, 2018 Saturday, May 19, 2018 7:09:00 AM CDT May 19, 2018 in News
COLUMBIA- The United states is experiencing one of the lowest birth rates in 30 years, according to the Centers for... More >>
1 day ago Friday, May 18 2018 May 18, 2018 Friday, May 18, 2018 9:08:00 PM CDT May 18, 2018 in News
COLUMBIA - Attorney General Josh Hawley says attorneys helping Gov. Eric Greitens through impeachment proceedings are acting improperly. "By... More >>
1 day ago Friday, May 18 2018 May 18, 2018 Friday, May 18, 2018 8:34:00 PM CDT May 18, 2018 in News
JEFFERSON CITY - The annual Backyard Concert Series kicks off Saturday evening at the Jefferson Landing Historic site. Missouri... More >>
1 day ago Friday, May 18 2018 May 18, 2018 Friday, May 18, 2018 6:45:00 PM CDT May 18, 2018 in News
JEFFERSON CITY –Missourians will soon be able to keep a little more money from their paychecks, after a state House... More >>
1 day ago Friday, May 18 2018 May 18, 2018 Friday, May 18, 2018 6:33:00 PM CDT May 18, 2018 in News
MADISON (AP) — A Columbia man will likely spend the rest of his life in prison for a shooting death... More >>
1 day ago Friday, May 18 2018 May 18, 2018 Friday, May 18, 2018 4:40:00 PM CDT May 18, 2018 in News
WARSAW (AP) — Authorities say the police chief of a western Missouri town was wounded after a 16-year-old boy shot... More >>
1 day ago Friday, May 18 2018 May 18, 2018 Friday, May 18, 2018 4:24:00 PM CDT May 18, 2018 in News
JEFFERSON CITY (AP) — Missouri's Republican-led Legislature approved tax cuts for both individuals and corporations Friday and sent a gas-tax... More >>
1 day ago Friday, May 18 2018 May 18, 2018 Friday, May 18, 2018 4:18:00 PM CDT May 18, 2018 in News
COLUMBIA - Local veterans return home from combat having experienced things average citizens could not even imagine. Douglas Wilbur,... More >>
1 day ago Friday, May 18 2018 May 18, 2018 Friday, May 18, 2018 4:17:00 PM CDT May 18, 2018 in News
Columbia, MO
Broken Clouds 64°
8am 66°
9am 67°
10am 69°
11am 68°