Sudden jump in USA interest rates prompts Wall Street stock plunge
Sudden jump in USA interest rates prompts Wall Street stock plunge
Shares in Facebook Amazon Apple Netflix and Google’s parent company Alphabet all fell in New York trading
Jason Alden Bloomberg
12 October, 2018, 02:50
The Nasdaq composite skidded 92.99 points, or 1.3 percent, to 7,329.06. All 30 of the Dow's stocks were in the red and it fell below 26,000 total points for the first time in a month, CNN reported. The index didn't reach 700 again until 1987.
Francis Tan, an investment strategist at UOB private bank, believes the markets will likely pick up in the USA session.
Tech stocks declined due to rising bond yields, which followed a spike in rates for the benchmark U.S. 10-Year Treasury. As the economy hums along, the Federal Reserve is expected to continue tightening after increasing rates three times this year and eight times since the financial crisis.
The 10-year Treasury note yield traded around 3.23 percent a day after hitting its highest level since 2011.
But Hogan said earnings were also a source of worry because they could showcase the consequences of Trump's trade wars for U.S. companies, from raising costs of raw materials to forcing enterprises to change supply chains.
Kinahan said investors want to know if Corporate America is anxious about the Trump administration's tariffs on Chinese imports and if it sees signs of slower economic growth.
But there were few places to hide Wednesday. "Semiconductors have the most exposure to China out of segments in the S&P 500". Even utility stocks, which tend to pay big dividends, fell slightly Wednesday.
Tom Cahill of Ventura Wealth Management said investors were unnerved by remarks from luxury company LVMH of a crackdown on some goods in China amid the country's bitter dispute with the US.
Wall Street is hoping that the worst of a brutal correction will soon be over, but today's not looking much better after Wednesday's big plunge.
And the CNNBusiness Fear & Greed Index, which looks at the VIX and several other indicators of market sentiment, plunged into Extreme Fear mode.
Stocks and bonds traditionally have been in a tug of war for capital, but for the past 10 years bonds have had one arm tied behind their back, said Jack Ablin, chief investment officer and founding partner at Cresset Wealth Advisors in Chicago.
"The selloff is healthy", Heider said.
All three indexes hit records between August 30 and October 3, despite the escalating Sino-US trade dispute gnawing at confidence on corporate profit growth through most of the year.
The Fed has been gradually raising interest rates over the past two years, after not having increased them since the recession.
The energy sector, pressured by a drop in oil prices, was the lead decliner, while insurers were some of the biggest losers in the financial sector a day after powerful Hurricane Michael slammed into Florida.
And Geoff Alexander, the president of R. M. Davis, a wealth management firm, said he wasn't getting too nervous about Wednesday's market madness either. This slide was long overdue. But that reprieve was short-lived, as stocks headed down in the final hour of trading.
"Volatility and concern is high", Silverblatt said.
The Met Office has issued an amber weather warning for rain across much of south Wales for tomorrow and Saturday. While heavy rain is expected to continue into Saturday, the wind is now forecast to ease off by Friday evening.
Mental illness afflicts persons of any age, gender, race, income, or education- in equal proportion throughout the world . It explained that the lack of such a facility can have dire effects on the diagnosis and treatment of children.
Murkowski voted "no" Friday on a procedural vote to advance Kavanaugh's nomination and opposed his confirmation on Saturday. He called the vote "a good day for America" and predicted voters will reward Republicans for it in the mid-term election.
Back in 2016, McConnell refused to hold hearings or meetings with Garland, leaving open the seat for the majority of the year. Mr Trump tweeted that the demonstrators included female Mr Kavanaugh supporters who were "gathering all over Capitol Hill".
The pitch was not as quick, the harder ball comes onto the bat, so you have more opportunities for boundaries, Kohli said. However, he showed glimpses of coming back in-form in the first Test by scoring 41 runs.
The idea is that you can play the games on any device of your choosing, without having to pony up the money for a worthy machine. As a concept, then, game streaming seems better suited as an ancillary feature for players already invested in console gaming.
Israeli forces killed over 260 Palestinians in that period, of which Israel says most were attackers. The Palestinian used a homemade gun in the attack, known locally as a Carlo , according to Conricus.
In particular, the condition can cause weakness in the arms and legs along with loss of muscle tone and problems with reflexes. The cases of acute flaccid myelitis started showing up in Minnesota before mid-September, all in children under 10.
There are, as far as we know, very few surprises in store after what has been a very leaky time for pre-release phones. But, unfortunately, it requires quite a lot of space and the company had to ditch 3.5mm audio jack in the OnePlus 6T .
Vice-President Mike Pence planned to be available Saturday in case his tie-breaking vote was needed, which now seems unlikely. Trump also said women, far from being outraged at Kavanaugh, "were outraged at what happened to Brett Kavanaugh , outraged".
Fan almost nails Red Sox's Kimbrel with beer can
A New Jersey native who grew up a Mets fan, Porcello held the Yankees to one run over five innings for his first postseason win. Luke Voit walked on four pitches, and Kimbrel hit Neil Walker on a leg with his next pitch, forcing in a run.
Photo surfaces of doomed reporter walking into Saudi Consulate
US President Donald Trump and European leaders all have called on Riyadh to explain what happened to the 59-year-old journalist. He added: "We trust the government and the actions taken, and all the efforts that are taken in the case of Jamal Khashoggi ".
Inside Hurricane Michael’s eyewall as it made landfall
Here, boats docked in Panama City, Fla., are seen in a pile of rubble after Michael passed through the downtown area on Wednesday. Maximum sustained winds remained at 150 miles per hour as the storm was moving north-northeast at 14 miles per hour .
Hurricane Michael gains strength, takes aim at north Florida
Hurricane-force winds extended outward up to 35 miles from the center and tropical-storm-force winds were outward up to 185 miles. A storm surge up to 12 feet is possible along portions of Florida's Gulf Coast from Steinhatchee to Apalachicola Bay.
Store owner stays put for Hurricane Michael
Bill Nelson, said a "wall of water" could cause destruction along the Panhandle. "Do not think you can survive it", Scott said. Michael's core , with maximum sustained winds of 110 mph, was about 335 miles south of Panama City, Florida, as of 2 p.m.
Ivanka Trump shuts down rumors of replacing Haley
She told Trump around six months ago that she was thinking of quitting by the end this year "to take a little time off", he said. President Trump has accepted Nikki Haley's resignation as UN Ambassador, according to two sources briefed on their conversation.
Crown prince downplays Trump's statement on Saudi military
Turkish President Recep Tayyip Erdogan said the Saudis need to provide evidence to support their claim that he left the consulate. Turkish officials say they believe Khashoggi is still inside the building, which they can not search without an invitation.
Modric v Ronaldo rematch as Ballon d'Or nominees unveiled
Liverpool's Brazilian forward Roberto Firmino and Uruguay's rugged defender Diego Godin of Atletico Madrid also got the nod. Barcelona , on the other hand, have just three candidates, Lionel Messi , Luis Suarez and Ivan Rakitic.
Yankees Feel Good With Severino On The Hill In Game 3
Over the last two seasons his playoff ERA stands at 1.38 after he posted a combined 4.28 ERA in his last two regular seasons. It was, however, the most wins for the Red Sox in a road postseason contest, and the worst postseason loss for the Yankees .
Trump hosts Kavanaugh for ceremonial swearing
If there had been higher Democratic turnout in the 2010 and 2014 midterms, Kavanaugh could not have made it to the Supreme Court . The entire room of Trump supporters and staff applauded the entire Kavanaugh family.