Home » Money

U.S. stocks end again with deep losses, Dow down 2.1%

12 October, 2018, 04:42 | Author: Sara Gill
  • Dow falls 500 points as rising Treasury yields drag down market

The losses were widespread, and stocks that have been the biggest winners on the market the last few years, including technology companies and retailers, suffered steep declines. Over the past two days, it has lost more than 1,300 points.

Meanwhile, the Wednesday drop of almost 832 points was the third-worst point decline in history.

"I don't see evidence right now that this is a one-off event", he said. In theory, banks should do better if the Fed keeps raising interest rates and bond yields climb higher since it will make their loans more profitable.

"A sustained rise in rates is probably reflective of improving economic conditions, so that in and of itself isn't necessarily a bad thing for stocks", said Willie Delwiche, investment strategist at Baird in Milwaukee.

The benchmark S&P 500 index rose in morning trading, but ultimately gave up 57.31 points, or 2.1 percent, to 2,728.37, its lowest close in three months.

The small-cap Russell 2000 index, which is less sensitive than its larger peers to global worries such as trade and yields, was down 1.18 percent.

US crude dropped 3 percent while Brent crude, the worldwide standard, dropped 3.4 percent. And if history is any guide, we won't have to endure too much, as the S&P has been up an average of 14.5% a year after all midterm elections going back to 1946, while all 18 midterms saw higher returns 12 months later, he notes. Delta Air Lines shares rose 3.8 percent after the airline beat profit expectations.

The Nasdaq composite, which has a high concentration of technology companies, had its biggest loss in more than two years.

Volume on USA exchanges was 11.44 billion shares, its highest level since February and compared with the 7.65 billion-share average for the full session over the last 20 trading days.


Wall Street indexes continued their slide in Thursday's volatile session as investors anxious about rising interest rates and braced for a trade war hit to corporate earnings a day ahead of the quarterly reporting season kickoff.

"The Fed is making a mistake". "It's a correction that we've been waiting for, for a long time".

The International Monetary Fund and the World Bank hold an annual gathering in Indonesia.

That is a potential sign of investor complacency.

Yi did not tell reporters how the meeting with Mnuchin went on Thursday, but told the Chinese financial magazine Caixin that China was on course to hit its GDP growth targets despite concerns about the trade war and debt levels. After years of big gains, those stocks are now out of favor.

He said he wanted to discuss the currency with Beijing as part of the trade talks. China has been the main target for these rules. During the session it fell as much as 10.3 percent from its August 29 closing record high but ended the day 9.6 percent below the record.

This ongoing friction is likely to suppress markets for some time, analysts said.

Shih reported from Hong Kong.

Recommended:

  • Trump Promises to ‘Straighten Out’ Crime-Ridden Chicago

    Trump Promises to ‘Straighten Out’ Crime-Ridden Chicago

    The criminal aliens to whom Trump referred include, as he said, "thousands of vicious gang members" and " MS 13 predators". Advisers had also cautioned Trump against doing anything dramatic in the weeks before the midterm elections next month.
    NY  limousine crash kills 20 people

    NY limousine crash kills 20 people

    She and her husband, Adam, pictured below, leave behind two young daughters, Archer, 4, and Elle, 16 months. All 18 people in the limo, including the driver, were killed. "Their lives were just cut short too soon".
    Whoops! Toddler shreds more than $1,000 in cash

    Whoops! Toddler shreds more than $1,000 in cash

    Though it would have been a bit harsh on a 2-year-old kid, a couple from Utah seems to have left it a bit too late with their son. A Utah couple was saving thousands of dollars for over a year to pay for university of Utah football season tickets.
  • Manchester City’s tactics a compliment to Liverpool, says Virgil van Dijk

    Manchester City’s tactics a compliment to Liverpool, says Virgil van Dijk

    Liverpool and City appeared reluctant to commit to all-out attack and only succeeded in canceling each other out. The previously unstoppable Liverpool registered just two efforts on target, with City mustering the same.
    Tua Tagovailoa opened Alabama's game vs. Arkansas with a ideal  stat line

    Tua Tagovailoa opened Alabama's game vs. Arkansas with a ideal stat line

    Once again, Tagovailoa connected with Smith for a huge gain near the Arkansas 20 before cornerback Ryan Pulley forced a fumble. However, Storey fumbled the ball at the goal line trying to pull the Razorbacks within a touchdown and Alabama recovered.

    Who is Brett Kavanaugh, US Supreme Court's new judge

    Senate Democratic leader Chuck Schumer of NY called the fight "a sorry epilogue to the brazen theft of Justice Scalia's seat". In regards to Kavanaugh and the sexual assault accusations surrounding him, she said that she was glad that boh Dr.
  • Facebook Unveils Portal and Portal

    Facebook Unveils Portal and Portal

    Portal and Portal Plus make it easy to keep in touch with friends and family when you can't see them face-to-face in real life. The screen can be locked behind a passcode, and you'll need to log into your own Facebook account if you want to change it.
    3 things learned from Liverpool's stalemate with Man City

    3 things learned from Liverpool's stalemate with Man City

    Last month manager Klopp warned Fabinho that it could take him up to six months to adapt to Liverpool's style of play. Liverpool boss Jurgen Klopp backs Arsenal to challenge for the title.
    Predicted 4-3-3 Liverpool Lineup vs Manchester City: Salah Starts

    Predicted 4-3-3 Liverpool Lineup vs Manchester City: Salah Starts

    Asked if people saying Liverpool had worked out how to beat City were correct, Guardiola said: "Good - congratulations". Klopp is in the prime form of his managerial career has yet to win the trophies with Liverpool .
  • Tanushree Dutta files police complaint against Nana Patekar, Ganesh Acharya

    Tanushree Dutta files police complaint against Nana Patekar, Ganesh Acharya

    Last week, on being confronted by the media, he said he had answered the questions about it 10 years ago. Tanushree had sent a written complaint to MSCW on October 8 stating what had happened in the year 2008.
    Packers' Geronimo Allison still going through concussion protocol

    Packers' Geronimo Allison still going through concussion protocol

    The receivers who potentially could be in the lineup on Sunday have a combined two catches for 41 yards and zero touchdowns. That's now two missed practices for Adams, which isn't a good sign for his availability on Sunday against the Lions.
    Beijing hints at fate of Interpol chief who was spirited away

    Beijing hints at fate of Interpol chief who was spirited away

    Meng has held various positions within China's security establishment, including as a vice minister of public security since 2004. Meng's family has been placed under police protection following the "worrying disappearance", the ministry said.


Popular

President Trump, Kanye West to have White House lunch
When a reporter noted that Trump has said he supports stop-and-frisk, West said, "We're going to discuss it". He called himself a "crazy motherfucker". "It was from the soul", West replied.

Germany arrests man for Bulgarian journalist's murder
Victoria Marinova was found murdered in a park in Ruse, a town on the Danube on the country's northern border, on Saturday. Caruana Galizia was killed in a vehicle bombing in October in Malta and Jan Kuciak was murdered in Slovakia in February.

Stephen Amell Reveals How the Arrowverse Crossover Begins
If the series is picked up by The CW , Rose will make history as the lead of the first TV show that focuses on an LGBTQ superhero. The character of Batwoman is, despite the closeness of the names, not Batgirl as most Batman-franchise fans know her.

Lunch: Pakistan off to a great start against Australia on day one
Pakistani batsmen dominated the proceedings on day one with Mohammad Hafeez scoring 124 runs while Imam-ul-Haq made 76 runs. But Australia delaying the second new ball allowed Sohail and Shafiq to open up in the second hour, adding 55 more runs.

Officials warn about viral Facebook message hoax
A spokesperson told the Sun : "We've heard that some people are seeing posts or messages about accounts being cloned on Facebook". Facebook says there has been no known uptick in cloned accounts this week, when the messages started circulating, WSYR reported .

At Least 11 Dead In Haiti Earthquake
At least 10 people have been killed by an natural disaster , while over 135 people were injured as per the latest updates. Impoverished Haiti, where many live in tenuous circumstances, is vulnerable to earthquakes and hurricanes.

Dancing May upbeat about Brexit deal
Johnson and others say such a close partnership would ignore the wishes of voters who backed the Brexit referendum in 2016. France unveiled a draft law for such a scenario, with the budget minister admitting Paris was preparing "for the worst".

Court Grants 10 Days Physical Remand Of Shehbaz Sharif
The activists gathered at PML-N district office and marched to Karnal Sher Khan Chowk where the leaders addressed the rally. PML-N Spokesperson, Marriyum Aurangzeb says arrest of Shahbaz Sharif by NAB is an act of political vengeance.

Fulham 1 - 5 Arsenal: 5 star performance for Iwobi
Aaron Ramsey , who came off the bench in the 60th minute, piled more misery on the opponents with a flawless backheel. When it's Aaron like a No.10 but he can play near the attackers to make assists and score goals.

Saudis murdered journalist in Istanbul consulate, says Turkey
Erdogan instead sent more troops, a move seen as an effort to prevent Saudi Arabia from taking military action in the dispute. The 59-year-old Khashoggi went missing Tuesday while on a visit to the consulate for paperwork to marry his Turkish fiance.