Reuters reported on Tuesday that the one-day tumble to 1,250 points was the largest one-day drop that the BDI has experienced since 1984.
One broker summed up why he thinks the index has done so poorly in recent days, having fallen by nearly a third from 1,723 points recorded on 21 December.
“China, China, China,” Giuseppe Rosano, founder of UK broking house Alibra Shipping, told TradeWinds.
“I cannot see anything getting better until several weeks after Chinese New Year.” he said.
Reuters reported on Tuesday that the one-day tumble to 1,250 points was the largest one-day drop that the BDI has experienced since 1984.
One broker summed up why he thinks the index has done so poorly in recent days, having fallen by nearly a third from 1,723 points recorded on 21 December.
“China, China, China,” Giuseppe Rosano, founder of UK broking house Alibra Shipping, told TradeWinds.
“I cannot see anything getting better until several weeks after Chinese New Year.” he said.
By Michael Juliano (Stamford)
(Originally published at Tradewindsnews.com – 04 January 2023)
