U.S. stocks get off to cold start in December; South Korean stocks plunge on political chaos | Wilnesh News

Korean market turmoil
South Korean stocks opened lower on Wednesday as investors digested political turmoil. The Kospi fell about 1.6% as South Korean heavyweights such as Samsung Electronics, Hyundai Motor and Korea Gas Co. fell. The South Korean won rebounded from sharp early losses – hitting a two-year low against the dollar – but ended lower against the greenback.

Emergency measures by the Bank of Korea
The morning after Yoon’s shocking move, South Korea’s central bank said it would increase short-term liquidity and provide special loans if necessary to stabilize the country’s financial and foreign exchange markets. However, Citi analysts wrote in a note that the impact on markets could be “short-lived” if there is a “positive policy response.”

mixed market
U.S. markets were mixed on Tuesday. this S&P 500 Index It’s flat, Dow Jones Industrial Average dropped, but Nasdaq Index Rose. Asia-Pacific markets were also mixed on Wednesday. Australian S&P/ASX 200 Index Stocks fell 0.38% as the country’s statistics agency reported that gross domestic product grew less than expected at 0.3% in the three months to September.

(PRO) Opportunities in French political chaos
Beyond South Korea, France is facing its own political chaos, with lawmakers introducing a vote of no confidence in Prime Minister Michel Barnier’s government. This political uncertainty is having an impact on financial markets, creating trading opportunities.

December may have sparked a Mariah Carey thaw, but stocks were tepid at the start of the month.

It is unlikely that stocks will remain in the permafrost this month.

According to the Stock Trader’s Almanac, December is historically the third-best month of the year.

CNBC’s Bob Pisani writes that the stock market may see some minor moves in early December due to tax-loss sales, a phenomenon in which investors sell loss-making assets to reduce the tax burden on other assets that generate capital gains. But as the end of the year approaches, stocks tend to regain momentum.

“Historically, these strong returns tend to be back-end loaded,” said George Smith, portfolio strategist at LPL Financial.

Additionally, in presidential election years, December typically moves up a notch to become the second-best month for the stock market.

As Ken Mahoney, CEO of Mahoney Asset Management, noted, “The market has never fallen in December when the market has risen 10% or more following the election of a newly elected president.”

In addition, investors may be waiting for the U.S. November employment report to be released this Friday before making any major moves. The data will be the Fed’s last look at the labor market before its rate-setting meeting on Dec. 17-18.