Wall Street dives, setting the ASX up for heavy losses at open
11 Octubre, 2018, 05:25 | Author: Arnold Perez
Companies that sell non-essentials to consumers dropped 1.6 percent.
The S&P 500 posted its fifth straight decline, plummeting almost 3.3%.
The 10-year Treasury yield rose to 3.22 percent from 3.20 percent late Tuesday after earlier touching 3.24 percent. The rise in rates is weighing particularly heavily on areas of the market that had earlier been the biggest winners. The Dow and other major US stock indexes fell more than 3%.
The tech-heavy Nasdaq composite dropped 3.1 per cent. It's fallen 7.5 per cent in just five days.
At the closing bell in the New York Stock Exchange on Wednesday, the Dow Jones Industrial Average had lost 3.1 percent or 830 points to finish at 25,613.35, in the biggest fall in eight months.
Major equity indexes in Europe fell more than 1.0 percent, also pulled down by technology shares, and gold prices inched up as some investors sought refuge in the metal. The stock fell 35.7 percent to 38 cents in morning trading. The latest slump in the market has, however, shaved off some of the big gains.
Apple gave up 4.6 percent to $216.36 and Microsoft dropped 5.4 percent to $106.16. The FAANGs, spread over three sectors, were down between 1.4 per cent and 4.5 per cent.
Boeing shed 3.3 per cent to US$372.58 and 3M fell 2.2 per cent to US$205.77.
Insurance companies dropped as Hurricane Michael continued to gather strength and came ashore in Florida bringing winds of up to 155 miles an hour. Berkshire Hathaway dipped 4.7 percent to $213.10 and reinsurer Everest Re slid 5.1 percent to $217.73.
Investors also are bracing for bad trade-related news as corporate reporting season gets started in earnest this week.
Rising bond yields are raising the cost of borrowing to add to market fears. Imagine you had only two investment choices, a risky stock or a less risky bond.
"The direct concern is higher interest rates", said Rick Meckler, partner, Cherry Lane Investments, a family investment office in New Vernon, New Jersey.
The biggest driver for the market over the last week has been interest rates, which began spurting higher after several encouraging reports on the economy.
USA stocks notched solid gains in the third quarter as investors brushed aside worries about trade wars and focused on strong corporate earnings and solid United States economic data. The Fed aims to raise rates to about 3 percent. Paint and coatings maker PPG gave a weak third-quarter forecast Monday, while earlier, Pepsi and Conagra's quarterly reports reflected increased expenses.
For example, a yield rise in a month of one standard deviation or less, which would be 20 basis points now, is manageable for stocks, Goldman said in a note last week.
A senior White House official told CNBC that President Donald Trump, who has often pointed to rising stock markets at his campaign rallies, had been briefed about the market downturn.
All 30 Dow stocks were in the red, sending the index below 26,000 points for the first time in a month.
But historically, a monthly move of one to two deviations, or 20 to 40 basis points now, would result in flat S&P 500 returns.
Another report suggested that Avengers 4 will feature an older version of Cassie Lang - Scott's (Paul Rudd) daughter from Antman . Tony Stark would, for instance, be blaming himself for Peter Parker's death and Steve Rogers for the death of Bucky Barnes.
En ese estudio, el candidato del Partido de los Trabajadores , Fernando Haddad , reunió un 46% de la intención de voto. Brasil ha afrontado una de sus elecciones más inciertas desde que recuperó la democracia en 1985.
La mascota de estos Juegos será un yaguareté, Pandi, que fue elegido por ser un animal autóctono en peligro de extinción. Son 141 participantes que representan al país en las 32 disciplinas por las que se compite en los Juegos .
It appeared to be so powerful that it was expected to remain a hurricane as it moves into Alabama and Georgia early Thursday. A Hurricane Watch before landfall extends from the Alabama/Florida state border to the Suwannee River west of Gainesville.
Clarke y Seimetz encarnan a un matrimonio que se traslada a una nueva casa situada sobre un antiguo cementerio de animales . Se espera que llegue a las salas de cine en abril de 2019 y se convierta en una de las mejores cintas de terror.
The latest wind speed probabilities show over a 50 percent chance of winds of 40 miles per hour or greater for most of our area. The Florida Keys are expected to get 2 to 4 inches of rain, and the Yucatan Peninsula could get 1 to 2 inches of rain.
The report additionally noticed some Black areas on the back of the Pixel Slate and they could be for cellular connectivity. The Pixel Slate is Google's first Chrome OS tablet, featuring a detachable magnetic keyboard and a 12.3-inch display.
Jason Clarke and Amy Seimetz star, with John Lithgow , Alyssa Brooke Levine , Hugo Lavoie , Jeté Laurence , and Obssa Ahmed . King's novel is one of his darkest, scariest works, and it looks like the movie might be equally chilling.
A última hora del martes, Michael estaba causando grandes interrupciones a la producción de petróleo y gas de Estados Unidos . Así se ve el huracán Michael desde el espacio, según un enlace de video directo de la Estación Espacial Internacional.
It's also recently signed a visa-waiver agreement with Russian Federation , due to come into effect in the coming months. Afghanistan's and Iraq's passports were the weakest in the October survey, with accessibility to 30 destinations each.
Tway wins Safeway Open for first PGA Tour title
The 20-year-old finished regulation at 13-under 275, after carding a 71 in the final round with four birdies against three bogeys. Kevin Tway hit three consecutive birdies in the play-off to seal his first PGA Tour title at the Safeway Open in California.
Brooks Koepka named PGA Tour Player of the Year
Koepka became the first player since Curtis Strange in 1988-89 to win back-to-back US Open titles, then took his third major crown at the 100th PGA Championship with a tournament-record 16-under 264 for 72 holes.