Fears about inflation and soaring bond yields have sent the Dow plunging 6.5% through the first four trading days of this week
10 February, 2018, 05:29
The Australian share market suffered more losses worth $20 billion on Friday after a night of carnage took U.S. markets into official correction territory.
The recent turmoil in equities began last Friday, when the Dow fell 666 points after a better-than-expected jobs report ignited inflation fears. If the S&P fell 20% (that would be to 2,145), trading would stop for the rest of the day.
All of the major U.S. indices broke record after record during 2017 with the Dow, for example, hitting a closing high on an unprecedented 71 occasions. Employers are hiring at a healthy pace, with unemployment at a 17-year low of 4.1 percent. "A calmer period could lie ahead but the illusion of low volatility forever is smashed". But if inflation shows signs of accelerating, the Fed will raise rates higher and faster than now expected-which would likely kill the nine-year-old bull market.
After huge gains in the first weeks of this year, stocks started to tumble last Friday after the Labor Department said workers' wages grew at a fast rate in January.
The S&P 500, the benchmark for many index funds, shed 100.66 points, or 3.8 percent, to 2,581.
Among the worst performers are market favorites like Boeing, Caterpillar and Intel, about which there is no news.
On Thursday, the Dow dropped 1,032 points.
The losses were broad. The Nasdaq was up 48 points, or 0.7 percent, to 6,825.
Rising bond prices make the securities relatively more attractive for investors, prompting some to sell their stocks. This means the overall confidence that inflation isn't a threat, that there will be three interest rate rises in the United States of America, that the U.S. economy will grow as strongly as was thought two weeks ago and where the stock market is heading have turned from known "facts" to unknown facts.
High-dividend stocks including phone companies fell.
That simply added to a sell-off sparked last Friday by figures pointing to stronger-than-expected U.S. wages growth - which rekindled fears about a pick-up in inflation and the possibility that the Fed would need to raise interest rates more rapidly than expected.
US stocks shot higher in afternoon trading as the market looks to recover from its biggest loss in 6 ½ years.
In the corporate sector, the reporting season continues.
The index of 30 big-name US companies ended up at 24,912. The company also said it will pay $400 million to buy Australian retailer Bras N Things.
FedEx and UPS dropped about 2 percent after the Wall Street Journal reported Amazon.com Inc will be launching its own delivery service.
Stocks closed sharply higher on Wall Street after another turbulent day of steep ups and downs. The stock dropped $27.21, or 30.9 percent, to $60.83.
The market, now in its second-longest bull run of all time, had not seen a correction for two years, an unusually long time. Its sum-of-the-parts valuation is $3.45 and the stock is trading at $3.15. GrubHub will provide the delivery people and technology to let people order food from those restaurants.
The Dow opened Wednesday with a 127-point loss, quickly turned positive and eventually notched a 381-point gain. That also sent the pound higher. Brent crude gave up 70 cents, or 1.1 percent, to $64.81 per barrel.
The German share price index, DAX board, is seen at the stock exchange in Frankfurt, Germany, February 8, 2018.
It's now 6.15am and the Dow is now down 466 points and I'm hoping the insane computer programs don't take control before 8am our time, which is closing bell time of 4pm in NY.
It's packed with all sorts of new loot box goodies including skins for Pharah, Zarya, Mercy, Widowmaker, Genji, and McCree. In addition to the Overwatch Year of the Dog skins, there are new sprays, emotes, voice lines and player icons.
Lanzinger said that fear-mongering about how raising the minimum wage will affect businesses doesn't play out in reality. The province will then revisit the wage each year before the June increase to ensure it is keeping on target.
Petersburg, where the Rays now play at Tropicana Field , Hagan said: "Ticket sales and corporate support have lagged". Petersburg city officials over the right to look for a stadium site outside of the city and Pinellas County.
After the ward government received complaints, its board of education held a press conference on the same day. Finance Minister Taro Aso said that the prices seemed expensive for elementary school uniforms.
The announcement comes as Weinstein faces similar investigations into his widespread sexual abuse in New York City and London. Beverly Hills police separately presented two cases to prosecutors in December.
The club tweeted: "We are saddened to hear this evening that former Sunderland midfielder Liam Miller has passed away. A range of footballing icons and clubs have expressed their condolences over his passing and paid their tributes.
A topsy-turvy session for the S&P 500 Index ended with technology, materials and consumer shares leading a 1.7 per cent advance. The US benchmark S&P 500 fell by more than 4 per cent while the Dow Jones Industrial Average lost 4.6 per cent on Monday.
It wasn't the first time she made history - in 2009, she became the first US woman to win a world championship in the luge. I am an American and when I won the 1000m in 2010 I became the first American to 2-peat in that event. "No problem.
Khaled succumbed to his wounds, after being shot with a live round in the chest; he died at the at al-Najah Hospital, in Nablus. It added that the soldiers also rammed one Palestinian with their jeep, causing moderate wounds.
He was also part of one of the board meeting with whistleblower Edward Snowden to investigate reporter Glenn Greenwald. Born in Wyoming on October 3, 1947, Barlow graduated with a degree in comparative religion from Wesleyan University.
However, Europe appeared to have avoided the worst of the share falls seen on Monday in the USA and earlier on Tuesday in Asia. Away from the top tier, the FTSE 250 Index was also suffering, dropping more than 2pc or 413.41 points to 19,279.74.
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