Why Has the Dow Jones Plunged 500 Points in One Day?
05 April, 2018, 02:02 | Author: Sara Gill
Trump also threatened the North American Free Trade Agreement over the weekend, while China on Monday responded to the White House's tariffs by imposing new taxes on US imports like pork and fruits, moves that sent shockwaves through the markets.
It was an unsettling start to the work week on Wall Street as the Dow Jones Industrial Average dropped more than 700 points shortly after 2 p.m. Monday. The S&P fell 50 points, and the NASDAQ plunged 193 points. The Russell 2000 index of smaller-company stocks fell 43 points, or 2.8 percent, to 1,486.
The S&P 500 opened below its 200-day moving average, a key technical level, and the Dow lost as much as 510 points before recovering some ground to stand 250 points lower at.
Shares of Amazontraded 0.7 percent stronger as of 1.55pm in NY, having fluctuated between gains and losses earlier in the day, as investors tried to assess the impact of US PresidentDonald Trump's latest criticising tweets about the company.
Ford, General Motors, Fiat Chrysler and Tesla fell between 0.8 percent and 1.88 percent.
Shares of Tesla Inc ended the day down 5.1 percent after the company was reported to be making 2,000 Model 3s per week, missing its 2,500 target.
The major reports in the US this week include ISM Manufacturing PMI, ISM Non-Manufacturing PMI and Non-Farm Payrolls.
China bumped tariffs by up to 25 percent on 128 USA products, from frozen pork and wine to certain fruits and nuts, in response to US duties on imports of aluminum and steel.
According to the chief investment strategist of Nuveen, Brian Nick, the hope is that the new earnings season will stop the market's bleed out.
"Today it's the tech and tariff trade that has the market rattled", said Nick Raich, CEO of The Earnings Scout.
The Nasdaq gave up 203 points, or 2.9 percent, to 6,858. Much of Trump's criticism has come after unfavorable reporting in The Washington Post, which is owned by Amazon founder Jeff Bezos but is a separate company from Amazon. So far this year, the S&P 500 has had three times as many sessions (http://www.marketwatch.com/story/the-dow-and-sp-500-have-already-doubled-the-number-of-1-moves-seen-in-all-of-2017-2018-03-26) with a 1% move than in all of 2017.
Music-streaming service Spotify Technology SA stayed in the spotlight in its second day of trading on the New York Stock Exchange.
In particular though, over the past week President Trump has been going after one of the biggest market drivers, Amazon, which consequently sent the market tumbling.
Amazon.com was the biggest drag on the S&P 500, down 5.2 percent, as President Donald Trump continued his twitter attacks on the online retailer.
Investors have expressed concern that a trade war between the US and China could slow global commerce and hurt corporate commerce.
Spot gold added 1.1 percent to $1,338.04 an ounce. Samsung Electronics fell 2.02 percent. The 10-year note yield topped 2.76% and crude slipped. CBS shares rose 0.9 per cent.
When the police arrived at the address, they found a 14-year-old boy, who, they said, admitted to posting the threat. The Port Huron Police Department said the boy was directing his threat toward his middle school.
While Fortnite Mobile on iOS is now fully available to all players, it still isn't finished when it comes to development. But it should also be noted that Fortnite DOES NOT support: iPhone 5S, 6, 6 Plus; iPad Air, Mini 2, Mini 3, iPod Touch.
Sadly, the listing does not show any specifications except that the device will be powered by Android 8.1.0 Oreo operating system. For photography, the smartphone will come equipped with a dual rear camera setup with a combination of a 12MP and 20MP sensors.
The problem that the company now faces is that its fixed-income "story" only work as long as the company's shares were going up. However the piece of data most investors are actually looking for are the Model 3 specific production numbers.
Renshaw was caught behind while Handscomb was bowled off an inside edge as he tried to withdraw his bat from a lifting delivery. The game was also special for the Proteas for the fact that Morne Morkel was plying his trade one final time in global cricket.
The raft Caleb was riding went airborne, hitting a pole and netting created to keep riders from being thrown from the ride. He faces charges of second-degree murder , aggravated battery, and aggravated endangerment of a child.
She was reportedly described by a former classmate as a "party animal" while she attended Northwestern University in Chicago. A photo of young Markle outside Buckingham Palace with friend Ninaki Priddy has earlier found its way to the Internet.
The group is estimated to command 10,000 fighters in the town, and has a formidable arsenal of tanks and other heavy weaponry. Local activists have said that over 100,000 civilians were trapped inside Douma, which suffered devastating damage.
The San Bruno Police Department is now instructing people to stay away from 901 Cherry Avenue , where the company is located. The website's base, at 901 Cherry Avenue in the small city, was surrounded by officers, with the public told to stay away.
Apple scores major coup by hiring Google's AI chief
There are surely more applications of machine learning planned in the future; Giannandrea would likely spearhead those efforts. Giannandrea joined Google in 2010 when it purchased Metaweb , a start-up where he served as chief technology officer.
Intel Debuts Its Most Powerful Core i9 Chips On Laptops
The chip giant said that its new 8th Gen Intel Core i9 , i7 and i5 processors for laptops are based on the Coffee Lake platform . The Core i5-8269U works at 2.6GHz base and 4.2GHz Turbo clocks while the Core i5-8259U works at 2.3GHz and 3.8GHz Turbo clocks.
Panera Bread's website leaked customer records
The company also claims that there is "no evidence of payment card information being accessed or retrieved". Within two hours of this, Panera Bread took down their website and "fixed" the issues.
Eurozone PMI at eight-month low
Factory activity has expanded in Mexico , which fueled jobs, but both input costs and output charges increased at sharper rates. New orders increased at a robust pace for the 18th month in a row thanks to greater sales to domestic and export clients.
SpaceX rocket launch scheduled for 4:30 pm Monday
The first stage safely separated and fell back to the Earth. (1,800 kg) of cargo, SpaceX officials said in a statement . These are only a few examples of the many science experiments heading to the ISS aboard this Dragon cargo mission.
UFC Notebook: 'Freak injury' forces Ferguson out of UFC 223
I'm here, six days' notice - April 7 is going to be a great night". "I think Holloway is not any less interesting than Ferguson". The guy hasn't lost a fight since 2013, and that was a decision to Conor McGregor , ' White added. "Hell no.
'Trump invited Putin to White House, but no date set'
The invitation, nevertheless, seemed to represent Trump's efforts to cooperate with Putin on multiple worldwide issues. Last week, Russia announced it would expel 60 American diplomats and close the USA consulate in St.