Sunday, 21 October, 2018

FTSE 100 tumbles after record fall on Wall Street

Dow industrials drop 600 points as market losses deepen Dow sheds another 1000 points in tough trading
Ellis Copeland | 10 February, 2018, 05:28

"This is going to take longer to work out than people expect", he said.

As big as the Dow's drop seems to be, it has only taken the Dow back down to levels that it first hit in November.

"The little decline that we've had in the equity market today has virtually no implications for the economic outlook", Dudley, who is vice chairman of the Fed's rate-setting committee, told Bloomberg TV.

Bond prices didn't move much.

U.S. stocks fell around 4 per cent on Thursday in another dramatic session, confirming a correction that has thrown the market's near 9-year bull run off course. Rising yields have made bonds more appealing to some investors compared to stocks.

The market turmoil follows a prolonged period of booming stock prices with virtually no sharp declines. The yield on the 10-year Treasury note was unchanged at 2.83 percent. The Dow recorded 1,000-point drops on Monday and Thursday.

The pan-European FTSEurofirst 300 index lost 1.89 per cent and MSCI's gauge of stocks across the globe shed 1.26 per cent.

The 10-year Treasury bond also reached a four-year high of 2.88 percent on Thursday, bringing about concerns of rising inflation. "So. the banks represent an oasis of opportunity in a tumultuous market", said Rob James, financials analyst and manager at Old Mutual. Because the economy is already strong, that boost from Washington could speed up inflation.

The S&P 500 and Nasdaq indexes also experienced continuing decline, each dropping 3 percent.

Dem Senator's Ties to Russian Oligarch Earns 'Wow!' From Trump
Marco Rubio also tweeted that Warner had been upfront with the committee. "Has had zero impact on our work ". Waldman offered last March to connect Warner with Steele to discuss the infamous dossier.


ESPN Releases 2nd Half Prediction For Duke-UNC
Stith made four 3-pointers and scored 19 points with seven rebounds, and the visiting Monarchs defeated the Golden Eagles. This defense is a bit of security blanket for Duke's staff ; however, UNC's zone offense blitzed them with spot-ups.


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Bayern Munich , one of the world's most important clubs, is keen on signing Borussia Dortmund and US men's national team star Christian Pulisic .


However, fears are growing that global markets are on the brink of a greater downwards spiral following an extended bull run that has seen many indices climb to new record highs.

European shares fell 5.3 percent for the week, their biggest weekly drop since January 2016, and an index of world stocks also suffered its largest weekly percentage drop since January 2016.

The broader Standard & Poor's 500 index rose 46 points, or 1.7 percent, to 2,695.

Elsewhere, oil prices continued to lose ground, pushing Woodside down 1.6 per cent and Santos down 2.2 per cent.

As one person put it yesterday, "I remember 2008 all too well and I need some advice because I lost too much money during the last correction". If you sell out at the first sign of trouble, you'll get modest gains, but you'll miss out on the truly huge wins that these stocks offer.

The Dow Jones Industrial Average is headed sharply lower Thursday. In Tuesday's activity, the stock market dropped 567 points and then turned around and closed up 567.

"We haven't seen volatility like this certainly in the past two years", said Brad McMillan, chief investment officer at brokerage company Commonwealth Financial Network. "There's kind of an emotional reversal that's going on".

On Friday, Italian investment bank Mediobanca rose 0.7 percent after it raised its dividend guidance and quarterly profit beat forecasts on higher net interest income and fees.

By midday it was up 30 points, or 0.2 percent, at 24,395.

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