Market volatility in markets around the world is soaring amid fears that the global climate crisis will soon be over.
On Monday, Wall Street’s index futures rallied on news that the Trump administration has announced its intention to withdraw the United States from the Paris climate accord.
The move comes amid growing calls for the United Nations to step in to combat global warming, which has claimed millions of lives.
The Dow Jones Industrial Average DJIA, +0.00% and the S&P 500 SPX, +1.40% both hit record highs.
But those markets have since rallied to close higher, while the Nasdaq Composite Index COMP, +2.03% and Nasdaq Energy Index ENC, +3.09% have shed about 20% of their gains.
Investors in oil and gas drilling and mining stocks, as well as tech and technology companies, are also taking a hit.
A number of tech companies are now down by more than 10% in the past two days.
“The rally in oil, gas, and technology stocks is now just beginning,” said Adam Silver, co-founder of Silver Bullet Advisors, a market research firm.
Silver Bullet Advisers has taken a hard line on companies that have sold stock or made a strategic decision to sell stocks.
He said the market has become a more dangerous place because of the climate crisis, which is having a “huge impact” on companies’ bottom lines.
“We’re seeing companies that had a lot of money invested in the stock market fall off it.
We think it’s a huge mistake to take a quick profit,” Silver said.
“I think that the companies that are going to be hit hardest are the ones that are on the edge, those that are selling stocks that they didn’t have a lot to sell, and that’s the big ones.”
Silver said he’s also seen some companies that used to have strong earnings ratios, like Amazon.com, to see a massive drop in share price.
Amazon stock plunged by more