Tech companies lead another steep sell-off in US stocks
Tech companies lead another steep sell-off in US stocks
Stocks Slammed! Dow Plunges More Than 600 Points
30 October, 2018, 03:13
The Dow is down 860.92 points, or 3.4 per cent.
Stocks have been punished this month by a range of worries, from rising borrowing costs and bond yields to Italy's budget and US congressional elections due in less than two weeks.
U.S. stocks fell in Friday trade as a technology sell-off rattled global markets.
Japan's Nikkei 225 index sank sharply on the open Thursday but leveled off, regaining some lost ground.
Stocks are opening modestly higher on Wall Street a day after a sharp sell-off erased the market's gains for the year.
At 11:15 a.m. EDT the Dow Jones Industrial Average was down 428.64 points, or 1.72 percent, at 24,555.91, the S&P 500 was down 61.93 points, or 2.29 percent, at 2,643.64 and the Nasdaq Composite was down 215.49 points, or 2.94 percent, at 7,102.85.
United Parcel Service slid 5.5 percent to $107.93 after the shipping company reported weak global revenue, while the strong dollar and high fuel prices also hurt its results.
Toyota Motor Corp. gave up 2.7 per cent while Hong Kong-based retail supply chain giant Li & Fung Ltd. lost 1.3 per cent.
The Dow Jones Industrial Average climbed 104 points, or 0.4 percent, to 24,689.
On Friday, France's CAC 40 index fell 1.3%, while the Dax slipped about 1%.
Results from S&P 500 companies have pushed up third-quarter profit growth estimates to 23.6 percent from 21.8 percent in the last 10 days.
1 student shot at North Carolina high school, police say
Police also said that the shooter, who was also a student, was taken into custody and that police have recovered the weapon. A high school student in North Carolina died Monday morning after being shot by a classmate, authorities say.
Mattel dropped 2.8 percent to $13.45 after the toy maker served up quarterly results that fell short of analysts' forecasts. The Nasdaq (.IXIC) jumped 2.95 percent, but remained down 10 percent from its August record high close.
The Russell 2000 index of smaller-company stocks gave up 16.58 points, or 1.1 percent, to 1,483.82. The Nasdaq has taken bigger losses than other USA indexes in recent weeks. The Chinese yuan fell to 6.9641 against the greenback, flirting with its weakest point in almost a decade.
United Parcel Service slid 5.5 percent to $107.93 after the shipping company reported weak worldwide revenue, while the strong dollar and high fuel prices also hurt its results.
The technology-heavy Nasdaq composite is now 12.3 per cent below its August peak.
Before the open, the Commerce Department said the United States economy grew in July through September at a slightly slower pace than a blockbuster expansion earlier in the year, marking the best back-to-back quarters since 2014.
Bond prices rose, sending yields lower.
In New York, the futures contract for the S&P 500 gained 0.7 per cent to 2,684 while that for the Dow also rose 0.6 per cent, to 24,770, suggesting recent losses may have whetted appetites for bargains.
Chipmakers Texas Instruments and STMicroelectronics warned of slowing demand.
Amazon shares fell by as much as 10 per cent - its worst performance in four years - as its outlook for Christmas sales disappointed investors.
The indexes were pulled down by Amazon, Facebook and Netflix, all of which lost more than 5 percentage points in value, while Google-parent Alphabet plummeted 4.8 percent.
Boeing jumped 3.3 per cent after beating analysts' earnings forecasts. Brent crude, the benchmark for worldwide oil prices, rose 0.9 percent to $76.89 a barrel. The euro rose to $1.1408 from $1.1393.
Angela Merkel is to stand down as leader of her party but wants to remain as chancellor of Germany, according to reports. German Chancellor Angela Merkel has told a news conference on Monday that she will not be a candidate for a new mandate.
Tony Finau has enjoyed such a good year that he wasn't about to let one bad break get him down Friday in the HSBC Champions . Finau has gone 63 starts on the PGA Tour without winning, though he is making progress toward adding to his victory total.
Also on Sunday, in addition to holding talks in what is now their 11 bilateral, the two leaders visited a robot factory. He arrived Saturday and was invited to Abe's vacation house near Mount Fuji on Sunday for private talks.
Later Friday, Trump told a political rally in Charlotte, North Carolina, that the media is to blame for polarizing the country. U.S. justice department officials said the bombs were "not hoax devices" and warned there could be more still undiscovered.
Recall that in September 2018 hacker attack on the social network Facebook has affected almost 50 million accounts. Facebook admitted that it failed to find any ties between the deleted accounts and the Iranian government, though.
It is expected to start at $579 in the USA and could be available at a starting price of Rs 34,999 or slightly higher in India. The smartphone maker has already confirmed that OnePlus 6T will be released sans the traditional 3.5mm headphone jack.
Jackson is the sixth straight Cleveland coach to be fired following the team's second game against Pittsburgh. Hue Jackson was sacked on Monday, a day after the Browns lost to the Pittsburgh Steelers and fell to 2-5-1.
Meghan Markle may not have her own social media feeds anymore, but that doesn't mean she has no presence on social media. The newlywed posted a snapshot of her husband, Prince Harry , at the Invictus Games closing ceremony rehearsal Saturday.
Donald Trump invites Vladimir Putin to Washington
President Donald Trump and Russia's President Vladimir Putin shake hands as they meet in Helsinki, Finland July 16, 2018. He said, if such a scenario were to become a reality, "it would naturally mean a global catastrophe".
Afghans vote in delayed Kandahar poll
Voters also complained about problems with the voter lists and said that there were also problems regarding the biometric system. Ghazni elections were delayed for an unknown time due to disagreements on reduction of constituencies and security issues.
Red Sox beat Dodgers to take 2-0 World Series lead
Both aces were chased from the game before they could even finish the 5th inning. "If we've got a shot we might use (Eovaldi)". Move over pot of gold, Sox fans hope this one leads to the World Series trophy. "We're going to shuffle it up", said Roberts.
TROPICS: Tropical Storm Oscar Expected to Become Hurricane
Hurricane Kate in 1985 formed on November 15 and did $300 million worth of damage and killed 15 people, according to reports. The tropical depression that would eventually become Hurricane Kate formed southeast of the Bahamas on November 8th.
Red Dead Redemption 2: 10 Things You Must Do First
You kill a man, take his hat, wear it for a while, and then it disappears instead of showing up in your wardrobe or horse menu. It's not exactly an immediate teleportation from one point to another, but it's certainly quicker than riding there yourself.