Thursday, 24 May, 2018

Dow Falls More Than 1000 Points, Enters Correction Territory

US stocks got off to a choppy start US stocks got off to a choppy start
Orlando Vargas | 11 February, 2018, 04:00

The comments came as the benchmark Nikkei 225 index dipped 7.1 percent in Tuesday afternoon trading, before recovering slightly.

The sudden drop has many investors anxious that the 2018 stock sell-off is a sign of worse things to come.

Economy Minister Toshimitsu Motegi said he was keeping a close eye on market movements, adding that Japan's economy remained stable and improving.

U.S. equities suffered another sell-off yesterday (8 February) to hit 2018-lows with the Dow Jones and S&P 500 both entering what is deemed correction territory. Hong Kong's Hang Seng index lost 2.5 percent. After the bill was passed, the Dow raced to record highs, hitting 26,616.71 on January 26.

Many investors have been anxious that creeping signs of higher inflation and interest rates could derail the market's record-setting rally. The Nasdaq composite lost 101 points, or 1.4 percent, to 6,947.

The S&P 500 index showed 2 new 52-week highs and no new lows, while the Nasdaq recorded 13 new highs and 21 new lows.

Bond prices rose. The yield on the 10-year Treasury fell to 2.73 percent.

We're guessing that U.S. President Donald Trump won't be gloating about the stock market in upcoming speeches the way he did during last week's State of the Union Address. On Monday, it gave up $1.30 to $64.15 per barrel.

The slide Monday brought the Dow back below 24,000 points.

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Stocks posted sharp losses Thursday with the Dow shedding 1,033 points, as higher interest rates continued to rattle investors.

After a record-breaking day on Wall Street Monday with the Dow's almost 1,200-point plunge, many people are wondering how this could impact their finances.

The Dow Jones industrial average plunged 1,033 points Thursday, its second-worst drop in history, extending its losses in the recent selloff to more than 10% and putting it officially into correction territory.

Meanwhile, back in Europe the bulls still have the upper hand over the bears on Europe's trading floors today.

It takes a much bigger decline than Monday's to trigger a circuit breaker.

While that's good news for workers, it has sparked concerns about inflation.

The Standard & Poor's 500 index fell 51 points, or 1.9 percent, to 2,711. The Dow soared by 5,000 points - it has never done that in a single year. Instead, a sudden increase in volatility created extra selling from trading programs, sending prices down.

"What we're seeing is an attempt at stabilization in USA equity prices following a very sharp selloff", said Peter Kenny, senior market strategist at Global Markets Advisory Group in NY.

On Monday, S&P 500 biggest losing stock was Wells Fargo. Brent crude, the benchmark for worldwide oil prices, rose 54 cents to $67.40 a barrel in London.

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