Traders work on the floor of the New York Stock Exchange (NYSE) moments before the Closing Bell on February 8, 2018 in New York City.
China was the worst performer in Asia on Friday - on track for its worst day in almost two years - as losses deepened from declines seen earlier this week.
After a rollicking ride, stocks reversed losses at close on Friday. The market appears to be telling us that earnings rather than valuations will have to do the heavy lifting for the next year or two.
US stocks started to tumble last week after the Labor Department said workers' wages grew at a fast rate in January.
The market's turmoil began last Friday and has continued this week as investors anxious about early signs of inflation. The first of those rate hikes is expected in March.
In Europe, markets were unnerved Thursday by the Bank of England's indication that it could raise its key interest rate in coming months due to stronger global economic growth.
After swinging up and down several times, the Dow Jones industrial average ended the day up 330 points, or 1.4 percent, at 24,191. Gold futures erased losses to push higher, the yen strengthened and even Treasuries pared the worst of their declines. It hasn't been that low since mid-November.
US Senate reaches two-year budget deal to avert govt shutdown
Conservatives do not support a similar increase in domestic funding, and that has been at the heart of the budgetary impasse. Susan Collins was optimistic about the preparedness of the bipartisan group she was been leading for the all-Senate debate.
Meanwhile, the Nasdaq composite index was down 274.82 points, or 3.90 per cent, to 6,777.16.
Instead the plunge in market prices on Monday amounted to a stock market correction.
The losses were broad.
U.S stocks rallied to end a volatile Friday, cutting into two weeks of steep losses.
Analysts cited higher Treasury bond yields as the catalyst for the drop, coupled with the view that the market surged to unsustainably high levels in December and January in the euphoria over USA tax reform. The Fed's key rate was "near zero for years". The company also said it will pay $400 million to buy Australian retailer Bras N Things.
The Wall Street Crash continues on Black Tuesday. The stock dropped $28.24 to $59.80.
Twitter soared 26 percent early Thursday after reporting its first-ever quarterly profit.
Cavaliers deal guard Dwyane Wade back to Heat
In an exclusive interview with CBS4, Dwyane Wade Sr. says he knew something was up when he talked to his son Wednesday night. With Wade's return coming shortly after the Heat debuted their new Miami Vice style jerseys, it was really a ideal storm.
Chinese markets fell despite unexpected strongly trade data Thursday. The stock rose $3.27 to $30.18.
Yum! Brands (YUM) announced a new partnership with online and mobile takeout food-ordering company Grubhub Inc. GrubHub will provide the delivery people and technology to let people order food from those restaurants.
During lunchtime trading the NZX50 was down 1.6 per cent, or 133 points, briefly sending the index down 5 per cent on the record high it set on January 5.
"The trigger has been the really fast rise in bond yields", said Evan Brown, director of asset allocation at UBS Asset Management. That also sent the pound higher. Meanwhile, Germany's Dax has dropped 0.1 per cent, France's Cac is 0.2 per cent lower and Italy's FTSE MIB has fallen 0.57 per cent. Tokyo's Nikkei 225 was off 2.3 percent and Hong Kong's Hang Seng retreated 3.2 percent.
Bond prices wobbled and turned higher. The country's 10-year yield almost surpassed a four-year high of 2.885 percent in the morning trading Thursday, a level that helped trigger a global sell-off in equity markets on Monday. "I think we have a few more days to go".
The pan-European FTSEurofirst 300 index lost 1.89 per cent and MSCI's gauge of stocks across the globe shed 1.26 per cent.
U.S. WTI crude oil fell for the fifth straight day, -1% at $61.15/bbl.
Trump 'saddened' by Porter allegations: White House
But right now, Porter's story is key, and not because it's in any way unique for a Trump appointee to lose his or her job. Much of the criticism is directed at Kelly, who has made equivocal statements in recent days about his former aide.
The Dow fell about 400 points Friday afternoon.
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