Monday, 20 August 2018
Latest news
Main » Wall Street tumbles again as S&P, Dow confirm correction

Wall Street tumbles again as S&P, Dow confirm correction

10 February 2018

"There are going to be people that are going to be selling into any kind of strength and then you are going to have some value-conscious investors taking advantage of these multiple 100-point drops", said Alan Lancz, president of Alan B. Lancz & Associates, an investment advisory firm in Toledo, Ohio.

"The economy is still strong", Lynch said.

Dallas Fed president Robert Kaplan said on Thursday the central bank could hike rates three times this year and the recent market volatility in itself was not enough to change his base scenario. Gold fell $7, or 0.5 percent, to $1,329.50 an ounce and silver dipped 9 cents, or 0.5 percent, to $16.58 an ounce.

The benchmark U.S. 10-year bond yield spiked to heights of 2.85 per cent at the end of last week, its highest since the start of 2014, although it has since retreated slightly.

And the Russell 2000 index of smaller-company stocks dropped 44.18 points, or 2.9 per cent, to 1,463.79.

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.

Stocks plunged again Thursday, and for the second time in four days, the Dow Jones Industrial Average slumped more than 1,000 points.

Many are bracing for more wild swings ahead as the Chicago Board Options Exchange Volatility Index is holding at twice its level from a week ago.

The economy is strong, but investors are anxious about inflation, and the possibility that the Federal Reserve will raise interest rates faster than expected to fight it.

The DGIA is the average price of 30 stocks traded on the stock market, meant to represent the market as a whole, according to the Washington Post. But it is percentage - not points - that matters. The Dow is up 23 percent over that time, the S&P 500 17 percent.

Earlier, the Shanghai Composite Index had tumbled as much as 6.0 percent to its lowest since May 2017, and the blue chip CSI300 index dived 6.1 percent.

Koreas share historic handshake at Olympic opening ceremony
Several days of violent demonstrations were held outside Seoul's Yonsei University in opposition to the South Korean government. It is extremely rare for a Japanese prime minister to communicate with a high-ranking official from North Korea's ruling party.

United States stocks overturned early losses to trade higher on Wednesday as some buyers returned to a market still shaking from a record fall for the Dow Jones Industrial Average earlier this week. The sharp swings came one day after the steepest drop on Wall Street in 6 ½ years.

US crude fell 3.06 percent to $59.28 per barrel and Brent was last at $62.96, down 2.85 percent on the day.

Monday's sell-off was driven by firms moving to sell stocks to put more money into assets such as bonds which benefit from higher rates, says Erin Gibbs, portfolio manager for S&P Global Market Intelligence.

The Dow Jones industrial average fell 233 points, or 0.9 percent, to 25,295.

The Standard & Poor's 500 index was down 8 points, or 0.3 percent, at 2,639. Strong economic performance and prospects with the then-recent USA tax reforms had fuelled a bull market which saw the measure's value rocket up 1,000 points in 12 days.

Henrikh Mkhitaryan describes Wenger as 'friendlier' than Mourinho
That's why we took our time and worked very hard so my muscles are ready for this type of game and to play a lot of games again. Mkhitaryan fell out with Jose Mourinho, fell out favour entirely and then started looking for a way out.

Wall Street tumbles again as S&P, Dow confirm correction