Asian stocks have already proven to be the best indicators of the global performance of the stocks as they are highly correlated with the performance of the global markets. September 5th was not an exception. Asian stocks opened with a decline and continued do decrease through the entire trading section in reaction to sharp decline of oil price to 84 USD per barrel and losses within European markets. Despite Obama’s confidence in the possibility of Republican and Democrat parties work together to create more job places in the U.S., investors were not convinced as it may be seen. Wall Street was closed for the Labor Day, however, losses are expected on Tuesday, September 6th.

The falls in Asia come a day after European shares suffered sharp losses. Britain's FTSE 100 closed down 3.6 percent to 5,102.58. Germany's DAX tumbled 5.3 percent to 5,246.18, and France's CAC-40 dived 4.7 percent to 2,999.54. U.S. job report released earlier was not a positive factor as well. Due to the fact that approximately 20% of global spending is concentrated in U.S., any changes in the economy of the country will have an immediate effect on the market performance. UAIndex followed the tendencies of European and Asian markets, showing largest daily decline since August 9th.

UAIndex