Stock market down sharply for a second day in a row
Stock market down sharply for a second day in a row
The New York Stock Exchange
11 October, 2018, 23:32
The benchmark index fell for the fifth straight day, which hadn't happened since just before the 2016 presidential election.
The tumble came after the Dow Jones industrial average closed 831.83 points lower, its third-worst point decline ever, in NY trading on Wednesday amid concerns over a rise in interest rates.
Alibaba dropped 4.1 percent after Morgan Stanley and Raymond James cut their near-term profit estimates on the Chinese e-commerce company, citing a softer economic environment in China. The Russell 2000 index of smaller-company stocks shed 2.9 percent, to 1,575.41. Industrial and internet companies also fell hard. Amazon lost 6.2 percent and Netflix gave back 8.4 percent.
"The S&P 500 is looking very weak and negative and that is putting fear into investors", said Michael Matousek, head trader at US Global Investors.
Oil prices fell more than two percent as US stocks plunged, even though energy traders anxious about shrinking supply from Iran due to US sanctions and kept an eye on Hurricane Michael, which closed almost 40 percent of US Gulf of Mexico output. Brent crude, the global standard, lost 2.2 per cent to $83.09 a barrel in London.
A global measure of equity prices fell to a 1-year low on Thursday as Wall Street extended its October slide into a sixth session as investors feared an escalating US trade war with China and risks from a recent climb in interest rates.
Markets have sold off in recent days as the rate on the 10-year Treasury note flirted with 3.2 percent - its highest level in seven years.
U.S. 10-year Treasuries, a closely-watched indicator of bond yields, hit a seven year high of 3.26pc on Wednesday.
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Unprecedented? This could be the first time a 4 or stronger hurricane has ever made landfall in the Florida panhandle, per TWC. How can this happen? "We haven't seen her since the tree hit the den". "That's the only thing I can imagine".
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Most sectors in Europe traded in the red, with tech stocks bearing the brunt of selling pressure after the big overnight sell-off in USA technology shares.
Adams said those worries are affecting technology and consumer-focused companies as well even though companies such as Alphabet, Amazon and Facebook have long had very high profit margins. Natural gas rose 0.6 per cent to $3.28 per 1,000 cubic feet.
USA gold futures settled up $1.9, or 0.16 percent, at $1,193.4.
Japan's Nikkei 225 added 0.2 percent, South Korea's Kospi dropped 1.1 percent and the Hang Seng in Hong Kong gained 0.1 percent. Heating oil fell 1.2 per cent to $2.39 a gallon.
It followed a bleak session in Europe, where Germany's Dax and France's Cac 40 had each ended the day more than 2% lower.
Stocks from emerging markets were also hard hit.
The U.S. Federal Reserve recently raised short-term interest rates for the third time this year, with one more expected before the year ends. Brazil's Bovespa lost 2.5 percent and the Merval in Argentina sank 2.2 percent. The British pound rose to $1.3197 from $1.3146.
The denuclearization process, which looked so promising when Kim and Trump met in Singapore in June, is now looking stillborn. The May 24 measures include the South blocking North Korea's access to the Jeju Straight.
The video is captioned with a quote by the Spanish artist Picasso, who had said the urge to destroy was also a creative urge. The auction house said it was "in discussion about next steps" with the buyer, whose identity was not disclosed.
Search and rescue crews are getting ready to reach the expected landing site. "Teams have been in contact with the crew". They are set to make an emergency landing in Kazakhstan, with both crew members live and talking to mission control.
Risks to food security and water, heat exposure, drought and coastal submergence all increase significantly even for a 1.5°C rise. This report shows the longer we leave it to act, the more hard , the more expensive and the more risky it will be.
The world is filled with climate-change hypocrites who want America to pay all the costs and make all the sacrifices. We are running out of time to prevent catastrophic effects of climate change from reshaping our world.
Garland had been nominated to the Supreme Court by President Barack Obama, but Senate Republicans never acted on the nomination. Kavanaugh remains a federal judge and the complaints "allege misconduct that occurred while Kavanaugh was on the D.C.
It said, the prediction is lower due to recent increase in oil prices and the tightening of global financial conditions. Lagarde said her advice was in three parts: "De-escalate".
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The company will update its customers as soon as it is in a position to offer something new, said Stout. A pipeline explosion has been confirmed to be the reason for a large fire outside of Prince George .
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