Tuesday, 18 December, 2018

U.S. stocks plunge further, Dow drops 830 points

The Dow tumbles more than 400 points Markets Right Now: Stocks fall sharply as bond yields rise - 570 NEWS
Rhonda Young | 11 October, 2018, 10:07

New York's Dow Jones Industrial Average fell 3%, or more than 800 points, in Wednesday trading.

Earlier on Thursday, the SPI200 futures contract was down 109 points, or 1.81 per cent, to 5,914.0 at 7am AEDT, pointing to bleak open for the ASX, which had clawed back some ground on Wednesday after a turnaround in financial stocks and a strong performance by the healthcare sector. 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.

Technology stocks slid more than 2 percent, the most among the 11 major S&P sectors, with the Philadelphia Semiconductor index down 3 percent after Swiss vacuum valve maker VAT Group said demand from chip equipment makers was softening.

The Dow Jones Industrial Average fell 831 points Wednesday and the Nasdaq composite, which has a high concentration of technology companies, had its biggest loss in more than two years.

Investors dumped big-name technology and consumer stocks like Facebook (-4.1pc), Apple (-4.6pc), Amazon (-6.1pc), and Netflix (-8.4pc).

The Nasdaq composite, with a large contingent of tech stocks, tumbled 315.97 points, or 4.1 percent, to 7,422.05.

Google Home Hub's best feature is not having a camera
We will hopefully know the answers to these questions before Google ships the Home Hub near the end of this month. The app sorts all your smart devices as per rooms as well, and lets you control each of them in a simple manner.

Rising bond yields have been drawing investors out of the stock market, and the best-performing stocks over the past year took some of the biggest losses Wednesday.

The 10-year Treasury note yield traded around 3.23 percent, while the two-year yield reached its highest mark since 2008.

Bond prices fell. The yield on the 10-year Treasury rose to 3.23 per cent. The stock fell 15 per cent to 50 cents.

Rising costs, as inflation and borrowing rates pick up, could also be a worry for stock markets.

Oil prices were lower, with the USA benchmark West Texas Intermediate losing nearly $2 to trade at just over $73 United States a barrel. It was at just 3.05 percent early last week. Brent crude, the worldwide standard, lost 2.2 per cent to US$83.09 a barrel in London.

Wholesale gasoline shed 2.7 per cent to $2.02 a gallon. Heating oil fell 1.2 per cent to $2.39 a gallon.

Tsunami threat as 7.0-magnitude quake hits Papua New Guinea
He said there was no damage in the town, but officers had not yet been able to contact villages closer to the epicentre. It earlier warned that waves up to about 30 centimetres were possible within 300 kilometres of the epicentre.

This trend began with emerging markets, where companies are struggling with rising US interest rates and local currency depreciation - but it is now spreading to USA companies because of challenges to their profits margins. Silver dipped 0.5 per cent to $14.33 an ounce.

Gina Martin Adams, chief equity strategist for Bloomberg Intelligence, said the stocks have become more volatile in the last few months because investors have concerns about their future profitability. Chipmaker Nvidia dropped 5 per cent.

The CAC 40 in France dropped 2.1 percent, Germany's DAX lost 2.2 percent and the FTSE 100 in London fell 1.3 percent.

Shares in the U.S. energy sectors were hit hard as investors reacted to shutdowns sparked by Hurricane Michael in Florida and the Gulf of Mexico.

But this upbeat backdrop could bring tighter monetary policy from the U.S. Federal Reserve, which has already raised its key interest rate three times this year. Brazil's Bovespa lost 2.5 percent and the Merval in Argentina sank 2.2 percent.

The Australian dollar slipped against major currencies, down to 70.7 USA cents, 53.6 British pence, 61.4 Euro cents and 79.5 Japanese yen. The euro rose to $1.1525 from $1.1496.

Ross Barkley reveals World Cup 2018 frustration following England recall
Southgate even invited Arsenal academy product Eddie Nketiah and Bristol City's Lloyd Kelly to train with the first team.

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