Markets Drop as Decision on Syria Looms

6 years 5 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
BOONE COUNTY - Multiple law enforcement agencies have been conducting an investigation on scene in west Columbia. Public Information... More >>
40 minutes ago Thursday, February 20 2020 Feb 20, 2020 Thursday, February 20, 2020 6:06:00 AM CST February 20, 2020 in News
LAS VEGAS — The latest on the 2020 presidential campaign and Democratic debate 6 p.m. Six Democratic... More >>
10 hours ago Wednesday, February 19 2020 Feb 19, 2020 Wednesday, February 19, 2020 8:07:00 PM CST February 19, 2020 in News
SPRINGFIELD- A retired Catholic priest has been charged in Missouri with multiple counts of child sexual abuse stemming from... More >>
10 hours ago Wednesday, February 19 2020 Feb 19, 2020 Wednesday, February 19, 2020 7:54:00 PM CST February 19, 2020 in News
COLUMBIA - While the snow disappears with warmer weather, potholes are opening in roads around mid-Missouri. Street division employees... More >>
13 hours ago Wednesday, February 19 2020 Feb 19, 2020 Wednesday, February 19, 2020 5:43:00 PM CST February 19, 2020 in News
BOONE COUNTY - Joseph Elledge, the husband of missing Columbia woman Mengqi Ji Elledge, has been charged with first-degree murder,... More >>
13 hours ago Wednesday, February 19 2020 Feb 19, 2020 Wednesday, February 19, 2020 5:05:00 PM CST February 19, 2020 in News
JEFFERSON CITY - A U.S. Army Veteran is passing through Jefferson City on Thursday as part of his effort to... More >>
14 hours ago Wednesday, February 19 2020 Feb 19, 2020 Wednesday, February 19, 2020 4:37:00 PM CST February 19, 2020 in News
ASHLAND - After the Landmark Bank and Simmons First National merger on February 18, residents in Ashland are seeing some... More >>
14 hours ago Wednesday, February 19 2020 Feb 19, 2020 Wednesday, February 19, 2020 4:16:00 PM CST February 19, 2020 in News
JEFFERSON CITY - Clean Missouri was approved by 62% of Missourians in 2018. Now, some Missouri lawmakers want to reverse... More >>
15 hours ago Wednesday, February 19 2020 Feb 19, 2020 Wednesday, February 19, 2020 3:19:00 PM CST February 19, 2020 in News
COLUMBIA - A public defender representing a Columbia man who plotted a terrorist attack has asked for a 15-year sentence.... More >>
16 hours ago Wednesday, February 19 2020 Feb 19, 2020 Wednesday, February 19, 2020 2:43:00 PM CST February 19, 2020 in News
JEFFERSON CITY – People from all around Missouri and lawmakers packed into a hearing room in the Missouri Capitol Wednesday... More >>
16 hours ago Wednesday, February 19 2020 Feb 19, 2020 Wednesday, February 19, 2020 2:22:00 PM CST February 19, 2020 in News
COLUMBIA - Columbia parents and candidates for the Columbia Board of Education met Wednesday to discuss special education. This... More >>
16 hours ago Wednesday, February 19 2020 Feb 19, 2020 Wednesday, February 19, 2020 2:04:00 PM CST February 19, 2020 in News
JEFFERSON CITY - State lawmakers on the House Elections and Elected Officials committee heard testimony on a bill that could... More >>
17 hours ago Wednesday, February 19 2020 Feb 19, 2020 Wednesday, February 19, 2020 12:59:00 PM CST February 19, 2020 in News
COLUMBIA - A Fulton man has been sentenced to 20 years in prison for a 2018 Columbia homicide. 30-year-old... More >>
18 hours ago Wednesday, February 19 2020 Feb 19, 2020 Wednesday, February 19, 2020 12:23:00 PM CST February 19, 2020 in News
FULTON - The State Technical College of Missouri is partnering with the Callaway Chamber of Commerce to provide the MoAMP... More >>
19 hours ago Wednesday, February 19 2020 Feb 19, 2020 Wednesday, February 19, 2020 10:55:00 AM CST February 19, 2020 in News
JEFFERSON CITY - Missouri Attorney General Eric Schmitt announced his candidacy to keep the seat Wednesday. Schmitt was appointed... More >>
20 hours ago Wednesday, February 19 2020 Feb 19, 2020 Wednesday, February 19, 2020 10:13:00 AM CST February 19, 2020 in News
Loxahatchee, FL – According to the national institute of mental health, nearly one in five people in the United States... More >>
21 hours ago Wednesday, February 19 2020 Feb 19, 2020 Wednesday, February 19, 2020 9:20:00 AM CST February 19, 2020 in A Brighter Tomorrow
FERGUSON, Mo. (AP) — The man suspected of shooting an off-duty police officer at a Walmart store in the... More >>
1 day ago Tuesday, February 18 2020 Feb 18, 2020 Tuesday, February 18, 2020 8:53:16 PM CST February 18, 2020 in News
JEFFERSON CITY - One Missouri advocacy group will show up in numbers to support its cause on Wednesday. Decoding... More >>
1 day ago Tuesday, February 18 2020 Feb 18, 2020 Tuesday, February 18, 2020 7:50:00 PM CST February 18, 2020 in News
Columbia, MO
Broken Clouds 22°
7am 22°
8am 22°
9am 23°
10am 24°