• News
  • Business

Wall Street resumes selloff; S&P flirts with correction

Wall Street resumes selloff; S&P flirts with correction

The Nasdaq composite lost 205 points, or 2.8 percent, to 7,113.

There have also been disappointing quarterly earnings from several big-name companies, worldwide condemnation of Saudi Arabia - a major oil producer - over the killing of journalist Jamal Khashoggi, and concerns that the US-China trade war is causing the global economy to slow down.

The Dow Jones Industrial Average lost more 2.4 percent, losing more than 600 points to end at 24,583.42.

The Dow dropped 296.24 points, or 1.2 percent, to 24,688.31.

The Nasdaq rose 3 percent, a day after it confirmed a correction and registered its biggest decline since 2011.

The weak results from Amazon and Google parent Alphabet were the latest setback for the high-growth quartet of stocks known as FANG, which also includes Facebook Inc and Netflix Inc.

The Dow Jones Industrial Average sank 500 points Friday, or 2 percent, putting it in the red for the year again.

On Friday, France's CAC 40 index fell 1.3%, while the Dax slipped about 1%.

The benchmark S&P 500 index in the U.S. is down more than 1.5%, falling nearly 10% from its peak set earlier in October.

Benchmark U.S. crude edged up 0.6 percent to settle at $66.82 a barrel in NY.

The Nasdaq is up 205.01 points, or 3 percent.

Saudi Arabia has 'no intention' of 1973 oil embargo replay
The pledge comes despite Saudi Arabia's previous threats to retaliate to any sanctions with "greater action". President Donald Trump withdrew America from the 2015 nuclear deal.

The Russell 2000 is down 66.81 points, or 4.4 per cent.

On Thursday the stock market looks the way it has looked for most of this year: high-tech and consumer-focused companies lead the way while steadier, defensive stocks that pay big dividends weren't doing much, or lost ground. Britain's FTSE 100 inched up 0.1 percent.

Twitter soared 15.7 percent to $31.87 and electric vehicle maker Tesla jumped 8.7 percent to $313.62 after releasing their quarterly reports, while video game maker Take-Two vaulted 9.1 percent to $121.05 after strong reviews for its latest game, "Red Dead Redemption 2".

Caterpillar tumbled 5.8 percent after the heavy-duty equipment maker maintained its 2018 earnings forecast, after having raised it in the previous two quarters.

Despite signs of weakness in the housing market, the USA economy appears to be very strong.

METALS: Gold fell 0.5 percent to $1,231.10 an ounce.

Investors moved to the relative safety of United States government bonds, which move inversely to yields, with the 10-year falling 4.7 basis points to 3.089%, its lowest in three weeks. For the week, these three major indexes dropped 2.97%, 4.03% and 3.78%, respectively. Bond prices rose, sending yields lower as traders sought safe-haven investments.

"Market technicals are showing signs of improving, with fewer stocks reaching 4-week lows yesterday and weak market depth of trading activity likely close to a bottom", Draho added. Newell shares have declined more than 50 percent since their 52-week high.

Japan's Nikkei 225 index swooned 3.7 per cent to 21,268.73.

CURRENCIES: The dollar strengthened to 112.51 yen from 112.47 yen on Tuesday.

Leave Your Comment

Leave Your Comment


Latest News

  • Red Sox Notch Game 2 World Series Win Over Dodgers

    Red Sox Notch Game 2 World Series Win Over Dodgers

    But all of that damage was limited to one inning-the fourth, when he allowed three singles and a walk-and he regrouped quickly. Cora's other likely Game 3 option, righty Nathan Eovaldi , pitched out of the bullpen in each of the first two games.
    Growing caravan of migrants pushes deeper into Mexico

    Growing caravan of migrants pushes deeper into Mexico

    Mexico's Government has said throughout the past week that it would register the migrants and process requests for asylum. Mexico's federal government said on October 20 that almost "900 migrants" arrived in the country via unauthorized means.
    Putin

    Putin "probably" involved in assassinations, poisonings

    This meeting was the first since Trump's arrival in the White House in January 2017. I don't think it's a hoax, I think there's probably a difference.
  • Glenn Hoddle

    Glenn Hoddle "responding well" to treatment, remains in serious condition

    Glenn has three children, Zara, Jamie and Zoe from his first marriage to Christine Stirling, who he was with from 1979 to 1998. Earlier today a BT Sport spokesman told MailOnline: 'Earlier today Glenn Hoddle was taken ill at the BT Sport studio.
    Migrant makes river crossing in desperate bid to reach Mexico

    Migrant makes river crossing in desperate bid to reach Mexico

    Mexican authorities haven't said whether anyone from the caravan will be permitted to travel to the USA border. "It's really full. Most had circumvented Mexican immigration officials and crossed the Suchiate river from Guatemala on rafts or by swimming.
    Pregnant Meghan Markle dazzles in $10K outfit Melbourne

    Pregnant Meghan Markle dazzles in $10K outfit Melbourne

    Meghan Markle has confirmed while on a royal tour of Australia that she's the type of guest anyone would like to invite over. Pupils from Trinity Grammar forgot to remind Prince Harry and Meghan about the loud noise generated by the miniature cars.
  • Danny Trejo Celebrates After Dodgers World Series Win

    Danny Trejo Celebrates After Dodgers World Series Win

    Five whole innings later, Muncy would win the game , and dig the Dodgers out of what was very almost an oppressively deep hole. Kinsler appeared on shaky footing when he scooped it up and fired toward first, and the ball sailed well wide of its target.
    Google launches Pixel 3, Pixel 3 XL in Taiwan

    Google launches Pixel 3, Pixel 3 XL in Taiwan

    That hasn't slowed down iFixit from tearing down the Pixel 3 and Pixel 3 XL to reveal all it can about the upcoming handsets. For example, this could simply be a policy change created to circumvent the current situation Verizon's now finds itself in.
    Astros employee accused of spying on the Red Sox

    Astros employee accused of spying on the Red Sox

    The Houston Astros , like many Machado, are doing everything possible in the last two days or so to ruin their reputation. After Nunez departed, Devers failed to come up with a hard grounder that cost the Red Sox a run in the fifth inning.
  • IPhone XR now available to buy both online and in stores

    IPhone XR now available to buy both online and in stores

    Market research also showed that the iPhone XS series generated much better results than the iPhone 8 series previous year . Yes, the price of the base iPhone has bumped up by $50 (the iPhone 8 cost $700 past year , and the XR costs $750 now).
    Rihanna Rejects Super Bowl Halftime in Support of Kaepernick

    Rihanna Rejects Super Bowl Halftime in Support of Kaepernick

    "Hitting the National Football League with the advertisers is the only way to really hurt them", she added. Well, we can knock off Rihanna from that list of possibilities, although her refusal hasn't been confirmed.
    Jamal Khashoggi case: Liam Fox rejects Saudi summit

    Jamal Khashoggi case: Liam Fox rejects Saudi summit

    But on Wednesday, Trump told reporters: "We've asked for it ... if it exists" - before adding that it "probably does" exist. Trump said he hoped the Saudis' own investigation of Khashoggi's disappearance would be concluded in "less than a week".
  • Supreme Court sensational order on CBI

    Supreme Court sensational order on CBI

    Earlier, Congress Spokesperson Randeep Surjewala said that Gandhi and other leaders were arrested from the CBI headquarters. M Nageswar Rao, who was asked to stand in as interim CBI chief, can not take any policy decision, said the judges.

    Kate Middleton dazzles in Princess Diana's tiara at Buckingham Palace dinner

    It was a wedding gift from Queen Victoria's son, the future King Edward VII , to his wife Princess Alexandra of Denmark in 1863. Prince Charles, the Prince of Wales and Camilla, the Duchess of Cornwall were also on hand for the banquet for 150 guests.
    How to book iPhone XR - cheaper alternative to iPhone XS, XS Max

    How to book iPhone XR - cheaper alternative to iPhone XS, XS Max

    It is available in five colors with a price tag of $749 in the United States, £749 in the UK, and over €849 in Continental Europe. Customers who choose not to preorder will be able to play with and purchase the model in Apple stores starting on October 26.
  • China 'creates two billionaires a week'

    China 'creates two billionaires a week'

    The 30 richest septuagenarians or older have a combined net worth of more than United States dollars 1 trillion. UBS estimates that the world now has a total of 2,158 billionaires, with 179 billionaires created a year ago .
    Ministry confirms U.S.  warships' Strait activity

    Ministry confirms U.S. warships' Strait activity

    Chinese security experts blasted the move by saying it suggests Washington would stand by Taiwan in case of a crisis with China. Navy has conducted such transits through the Taiwan Strait for years but have not publicized the transits since 2007.
    Local woman arrested in Thailand

    Local woman arrested in Thailand

    They are charged with vandalism after CCTV footage showed them spray-painting a 13th Century red brick wall near Tha Phae Gate. Lee Furlong and Brittney Schneider, both 23, were a‌rr‌est‌e‌d‌ at a hostel in Chiang Mai on Friday, Thai Rath News reported.

Breaking News



Recommended

Pressure grows on Saudi Arabia

Asked by a reporter whether he thought Saudi Arabia's explanation for Khashoggi's death was credible, Trump said, "I do". Germany is the fourth-biggest exporter of weapons to Saudi Arabia, behind the US, Britain and France.

Lottery boom in Arizona continues; another $1M ticket sold near Phoenix

All eyes are now on tonight's Powerball jackpot which is an estimated $620 million with a cash option of $354.3 million. If you didn't win the almost $1.6 billion Mega Millions jackpot, $750 million might be a nice consolation prize.

Cleaning up CBI - End of a feud; back to work

Later, he sealed all the rooms on the 10th floor of the building and issued orders of change in the teams heading different cases. Joint CBI director M Nageshwar Rao was appointed as the interim chief of the country's premier probe agency.

Jamal Khashoggi demise: Saudi Arabia say journalist was murdered

A member of the team dressed in Khashoggi's clothes to make it appear as if he had left the consulate, a Saudi official has said. The attackers reportedly rolled up his body in a rug and gave it to a local person for disposal.

Jamal Khashoggi's killing was a tremendous mistake: Saudi Arabia

He said the Saudis did not know how Mr Khashoggi, a Saudi national and U.S. resident, had been killed or where his body was. They are said to have threatened him with being drugged and kidnapped and then killed him in a chokehold when he resisted.

'Luke Cage' Actor Mike Colter Reacts to Netflix Series Being Canceled

The show's creator, Cheo Hodari Coker , tweeted his thanks to the cast and production crew as well as to Marvel and Netflix . Some speculate Disney's streaming service, although Bob Iger has already indicated that it won't cater to R-rated content.

Lewandowski double hands Bayern first win in five games

There were nervous looks in the Bayern ranks on 57 minutes when Robben was dismissed after a foul on midfielder Elvis Rexhbecaj. Hoeness has never made a secret of the fact that he regards the reputation of Bayern Munich as his lifetime achievement.

Google to charge for apps on Android phones in Europe

More high-end manufacturers such as Samsung are likely to be able to absorb the cost by increasing the price of their devices. If companies want Facebook , Instagram, Snapchat, and other major apps on their devices, paying Google is the easiest way in.

Saudi Journalist Could Have Been Murdered By ‘Rogue Killers’

Turkish sources allege he was killed by a 15-strong team of Saudi agents but Riyadh insists that he left the consulate unharmed. Mediaite reports the CNN claim is that the Middle East nation is preparing a report that will admit Khashoggi's death.

Trump says allegations against Saudis are example of "guilty until proven innocent"

After his talks in Riyadh on Tuesday, Pompeo was expected in Turkey today to meet Turkish Foreign Minister Mevlut Cavusoglu. Pompeo was asked point-blank if the Saudis told him whether the journalist is alive or dead.