NEW YORK, NY / ACCESSWIRE / August 14, 2018 / U.S. markets continued to drop on Monday as the recent currency crisis in Turkey raised some concern amongst investors. The Dow Jones Industrial Average decreased 0.50 percent to close at 25,187.70, while the S&P 500 Index fell 0.40 percent to close at 2,821.93. The Nasdaq Composite Index shed 0.25 percent to close at 7,819.71.
"August is not a great month to begin with. There's not a lot of volume. I'm not going to use August as a fortune-telling month for the rest of the year," according to Jack Ablin, chief investment officer at Cresset Wealth Management. "In many respects you expect August to go in the opposite direction. … I think we just need to take August off and figure out what the game plan is for September," he added.
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YY's stock moved 1.35% lower Monday, to close the day at $87.67. The stock recorded a trading volume of 1,649,757 shares, which was above its three months average volume of 1,436,879 shares. In the last year, YY's shares have traded in a range of 68.44 - 142.97. The share price has gained 28.1% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $96.63 is below its 200-day moving average of $108.91. Shares of the company are trading at a Price to Earnings ratio of 18.49. Shares of YY have fallen roughly 10.93 percent in the past month and are down 22.46 percent year-to-date.
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On Monday, shares of iQIYI recorded a trading volume of 8,726,779 shares, which was below the three months average volume of 25,313,249 shares. The stock ended the day 3.16% lower at $28.47. The share price has fallen 38.42% from its 52 week high with a 52 week trading range of 15.30 - 46.23. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $32.18 is above its 200-day moving average of $26.63. Shares of iQIYI have fallen roughly 16.14 percent in the past month and are up 83.09 percent year-to-date.
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