NEW YORK Tiago Splitter Jersey , Sept. 22 (Xinhua) -- U.S. stocks suffered big losses Tuesday as the slump in European equity markets rattled nervous investors.

The Dow Jones Industrial Average slid 179.72 points, or 1.09 percent, to 16,330.47. The S&P 500 lost 24.23 points, or 1.23 percent, to 1,942.74. The Nasdaq Composite Index shed 72.23 points, or 1.50 percent, to 4,756.72.

European shares ended drastically lower Tuesday, with Germany's benchmark DAX index at the Frankfurt Stock Exchange diving 3.8 percent, as a result of Volkswagen's emissions scandal.

The German carmaker on Tuesday revealed that a total of 11 million diesel cars may have been involved in the emissions-testing manipulations.

The company's shares plummeted 19.8 percent Tuesday, following previous day's deep decline of 18.6 percent, on news that it could face an 18-billion U.S. dollars fine in the U.S. for rigging emission tests on its diesel vehicles.

In Asia, Chinese equities extended their rally Tuesday, with the benchmark Shanghai Composite Index gaining 0.92 percent, while Japan's stock markets were closed for a holiday.

Some analysts believed that uncertainty about the timing of interest rate hikes by the U.S. Federal Reserve had led to increased volatility.

The U.S. central bank held its benchmark rate near zero after concluding its two-day monetary policy meeting Thursday. Most Fed officials, however, still expect a rate increase this year, the first in nine years.

On the economic front, U.S. house prices increased 0.6 percent in July from the previous month, the Federal Housing Finance Agency reported Tuesday. From July 2014 to July 2015, house prices were up 5.8 percent.

The CBOE Volatility Index, often referred to as Wall Street's fear gauge, jumped 11.42 percent to end at 22.44 Tuesday.

In other markets, U.S. oil price fell Tuesday as traders worried that global supplies exceed demand.

The West Texas Intermediate for October delivery moved down 85 cents to settle at 45.83 dollars a barrel on the New York Mercantile Exchange, while Brent crude for November delivery increased 16 cents to close at 49.08 dollars a barrel on the London ICE Future Exchange.

The U.S. dollar increased against most major currencies Tuesday as recent remarks by some Fed officials renewed market expectations for interest-rate hikes this year.

In late New York trading, the euro fell to 1.1131 dollars from 1.1190 dollars in the previous session, while the dollar bought 120.02 Japanese yen, lower than 120.60 yen of the previous session.

Gold futures on the COMEX division of the New York Mercantile Exchange extended losses Tuesday, with the most active gold contract for December delivery falling 8 dollars, or 0.71 percent, to settle at 1,124.80 dollars per ounce.


The truth is, if you’re an Ivy League MBA student chances are, you’re going to be a great employee in a strategies firm that focuses on regional economic turnaround or international expansion processes but you’re dreaming if you think you’ll spearhead a campaign or sit at the negotiation table and lead. It’s simple; you just won’t have the skills.

The minimal relevance of the archaic formulas you memorize from self-proclaimed scholars stuck in the bubble of classroom economics will get you nowhere. The internship that you battle for in NYC or Boston or some other international hub is just a name on a resume but it will be validated by your contact portfolio and the right brain negotiation gifts from god which, if you’re reading this from Yale or Harvard most likely are missing from your abilities as you’ve kept your nose stuck in the binder of your text book while simultaneously lacking the motivation to get out there and get your head kicked in by people that have a well versed comprehension of ‘street economics’ (if you’re dying to comment and tell me that this was a run-on sentence, point made). You can’t learn how to fight if you’re afraid to walk into a dark alley alone.

Street Economics and Text Book Economics is a matter of theory and strategy. The pie in the sky theories so prevalent in your education will clash with the reality of street economics. Formulaic theory is great if you exist in an corporate high rise cubical and want to pound the keys of a calculator all day without looking up but if that’s the rout you want to take, pack up and move to India as those technical mind numbing jobs are always outsourced.

The world looks to US M and A Firms and international alliance facilitation firms for innovation and the ability to put the pieces of the puzzle together for those with left brain ailments and inability to comprehend concepts that step outside of a calculation and into the negotiation room. When I say negotiation I’m not talking about a used car salesmen or some Long Island intellectual automaton living in a condo talking big and name dropping to make up for their lack of track record.

By negotiation I mean the ability to sit down in a conference room with stadium seating with ten different groups and one hundred different demands and come to a conclusion that leaves everyone in the room feeling as if they got exactly what they wanted and you carry those contacts with you to the next project to strengthen your position and expedite the results for whatever economy needs reason and strategy to arise out of the chaos that is so typical in regionalized economics on the global scene.

EU strategies won’t work in the US. MENA region processes will not work in BRIC nations. Your education centers around overgeneralizations and ancient concepts not even remotely applicable to the ‘street economics’ you’re going to need if you actually plan on becoming a force in this industry. When a regional government under the scrutiny of the IMF comes to you for . Cheap MLB Jerseys China   Wholesale Jerseys China   Wholesale Jerseys From China   Wholesale Jerseys Free Shipping   Wholesale Jerseys From China   Wholesale Jerseys China Cheap   Wholesale Authentic NBA Jerseys   Wholesale MLB Jerseys Online   Cheap Swingman NBA Jerseys   Cheap College Baseball Jerseys