Is it Time to Quit Equity?

The picture is certainly gloomy and has gotten worse over the past few days. And with Friday the 13th approaching, the superstitious will not expect any good news this week. The bulls were thrashed on Monday morning with the Sensex plunging by 513 points. It was to be expected when Asian indices were trading in the red before we opened. European markets which opened after India were also trading lower. On Friday, the U.S. stock market slumped after the May jobs report showed a jump in unemployment to 5.5%. The unemployment rate is said to be the highest in more than 3½