Investors anxious that rising wages will hurt corporate profits and could signal an increase in inflation that could prompt the Federal Reserve to raise interest rates at a faster pace, putting a brake on the economy.
The global sell-off began last week after a solid USA jobs report fuelled expectations that the Federal Reserve would need to raise interest rates faster than expected, because of the strength of the economy.
The wild ride on Wall Street continued Thursday with the Dow Jones Industrial Average plunging more than 1,000 points for the second time this week.
The S&P 500 shed 58 points, or 2.2 per cent, to 2,622 as of 3:10 p.m. It hasn't been that low since mid-November. The Nasdaq composite added 97.33 points, or 1.4 percent, to 6,874.49.
The losses were broad.
Stocks sank again Friday, with the Dow Jones industrials briefly falling 500 points, as the market heads for its worst week since the 2008 financial crisis.
Hanesbrands, which makes underwear, T-shirts and socks, reported a smaller profit than investors expected, and its forecast for the current year didn't live up to analysts' estimates either. The travel website's 2018 outlook also disappointed investors.
The S&P 500 gave up 44 points, or 1.7 percent, to 2,637.
Other major stock indexes also dropped Thursday. GrubHub jumped $21.44, or 30.7 percent, to $91.34, while Yum Brands dipped $1.22, or 1.5 percent, to $78.91. Whether or not Fed policymakers come right out and say it when they next meet in March, and New York Fed President William Dudley's comments on Thursday suggest they probably will, the balance of economic risks has now clearly shifted to the upside, meaning the risk is that growth will come in too hot. That also sent the pound higher. Average hourly wages grew 2.9 percent from a year ago - the largest increase since 2009. Brent crude, used to price worldwide oils, slid $2.78, or 4.3 percent, to $62.03 in London.
Bond prices wobbled and turned higher.
Investors who are instead looking to take stock and reduce risk, perhaps fearing a more pronounced stock market correction, may want to consider a fund that prioritises capital preservation.
Earlier on Thursday, the 10-year US Treasury note yield rose as high as 2.884 percent, nearing Monday's four-year peak of 2.885 percent, after the Bank of England said interest rates probably needed to rise sooner than previously expected.
Wholesale gasoline remained at $1.77 a gallon.
In Europe, Germany's DAX fell 1.2 percent, while France's CAC 40 lost 1.4 percent.
Shares in French cosmetics group L'Oreal rose 0.3 percent after its fourth-quarter sales beat expectations and comments by its CEO regarding its intentions on Nestle's stake further buoyed the stock.
Yesterday Sony Pictures released a Venom poster , teasing the character's eyes and the release month of October. Until then, we can only wonder why Sony would make such a baffling choice during an already crowded week.
According to CDC experts, antiviral drugs are most effective when taken within the first 48 hours of symptoms being shown. Riding on the back of this, other people have contributed with their own ways of separating a common cold from flu.
In provocative comments he added: "We are going to state exactly what we mean by regulatory alignment in the legal text". MPs voted to force the government to reveal the details of the assessment and they have now seen the analysis.
Lerna Shirinian, Calderon's communications director, said Fierro told her about the incident right after it happened. Garcia previously has demanded swift action against at least one fellow lawmaker accused of sexual harassment.
Bean said it now will let customers return products up to one year after purchase, if they have a receipt or proof of purchase. Bean was considering changes to its return policy for at least the past year as it looked to free up cash to fund expansion.
It turned negative, as 48 investors sold V shares while 617 reduced holdings. 46 funds opened positions while 186 raised stakes. The institutional investor owned 6,487 shares of the pharmacy operator's stock after selling 8,133 shares during the quarter.
Sharpening his attack at BJP, Rahul Gandhi said PM Modi was not intrested in answering the fundamental questions. So if we may ask, we ask your help in keeping the Kashmir Observer's journalism fair and square.
It has carried out military operations there that, it says, have killed hundreds of militants and soldiers over the years. Police and troops have been put on "maximum alert" for the duration of the operation, the army said in a statement.
In 2015, he was drafted to the NHL Entry Draft and chosen by the Minnesota Wild in the second round, 50th overall pick. The only thing missing from Canadian figure skater Patrick Chan's resume is an Olympic gold medal.
Prime members receive free two-hour delivery, or they can choose ultra-fast delivery within an hour for $7.99 on orders of $35. Each store has a different virtual cart, and items can be added, taken out, or ordered independently from each.
Fifth straight Copa final for Barcelona
Colombian defender Yerry Mina made his Barcelona debut on Thursday by replacing Gerard Pique late in the match. Coutinho was not named in the starting XI as he came off the bench to score his first goal for Barcelona .
NASA Exhibits the Most Distant Images Taken by a Spaceship
The neon green and blue images were snapped in false-color to make the objects more distinguishable to the human eye. The Kuiper belt object flyby is "not almost as flashy as Pluto", Porter said, but "it's a really unique observation".
YouTube Suspends All Ads on Logan Paul Channels
Paul promises to donate a million dollars from his YouTube fortune to those causes. "I believe it happened for a reason", he said. His channel was removed from Google Preferred , a program connecting advertisers with top-tier content producers on the site.
Hamlin leads US team into Olympic stadium
He eventually won gold in 1994 after his last race and his journey is one of my favorite Olympic moments of all time. Hamlin and other Olympians utilize sports psychologists "when needed to handle high-stress situations", she writes.
Ted Baker (LON:TED) Stock Rating Reaffirmed by Liberum Capital
Invesco Ltd invested 0% of its portfolio in Ei Group plc (LON:EIG). 510,523 were accumulated by Deutsche National Bank & Trust Ag. With 400 avg volume, 411 days are for DE LONGHI SPA ORD ITALY (OTCMKTS:DELHF)'s short sellers to cover DELHF's short positions.
Winter Olympics: ban on 47 Russians upheld
The best thing we can do for clean sport is to make sure there is a really strong anti-doping agency in Russian Federation ". So we put together a case before CAS, and we're delighted with the outcome". "Just focus on competition now at this point".
BC Unemployment rate still the best in Canada
That fuelled an acceleration of the national wage rate to an annualized pace of 3.3 percent that was the fastest since 2015. In Saskatchewan, the unemployment rate fell 1.1 per cent to 5.4 over the revised 6.5 per cent number from December.