Friday, 25 May, 2018

Stock market plunges again, enters 1st correction in 2 years

The Dow Jones index is headed for its worst week in nine years The Dow Jones index is headed for its worst week in nine years
Laurie Berry | 10 February, 2018, 10:12

The Dow lost 1,032.89 points, or 4.1 percent, to 23,860.46.

Energy stocks were dragged down by a 2.4 per cent plunge in oil prices overnight.

The market, now in its second-longest bull run of all time, had not seen a correction for two years, an unusually long time.

The spike in bond yields and the prospects of of rising inflation are what triggered the market sell-off in the United States last Friday, which then spread worldwide.

"This whole correction is really about rates. about inflation creeping up. about people thinking the Fed is either behind the curve or actually has to be more aggressive, "says Stephanie Link, global asset management managing director at TIAA".

Already, Wall Street had been expecting $1 trillion in Treasury issuance in 2018, almost double last year's total. The Dow moved in a range of more than 1,000 points. The Nasdaq composite fell 164 points, or 2.3 per cent, to 6,887.

Tom Martin, senior portfolio manager with Globalt Investments, said he did not see anything specific moving the market lower, just a continuation of a shift in investor mindset from fear of missing out in a rising market to worry of clocking big losses in a market that has turned.

"We've been looking at this as an opportunity to incrementally add a little bit of risk - not get over our skis, but a little bit", said Erin Browne, head of asset allocation at UBS Asset Management in NY.

The Standard & Poor's 500 index rose 16 points, or 0.6 percent, to 2,598.

'House of Cards' Star Reg E. Cathey Dead at 59
Though the details surrounding Cathey's death have not been revealed, sources told TMZ he had been battling lung cancer . His other roles included "Oz", " The Fantastic Four ", "Se7en", " Outcast ", and the documentary "The People Speak".

The market did not get much help on Thursday from company earnings reports, several of which disappointed investors.

The RBNZ does not expected inflation to reach 2 per cent until the third quarter of 2020, so a rate hike is not on the cards any time soon.

However, the local currency has risen by 0.4 per cent against the New Zealand dollar.

The 10-year Treasury yield has receded in recent days and is trading around 2.77 percent on Wednesday.

Technology companies accounted for most of the broad gains, outweighing losses in energy stocks, which slumped as U.S. crude prices declined, sending the price of oil below 60 dollars a barrel for the first time this year. Brent crude fell for a sixth straight day too to 0.7 percent to $64.37 per barrel.

Brent crude, used to price worldwide oils, lost 58 cents to $64.23 in London.

It also dropped against the British pound (-0.5pc), euro (-0.2pc) and Japanese yen (-1pc).

In Europe, Germany's Dax fell 1.2%, while France's CAC 40 lost 1.4%.

In Tokyo the Nikkei 225 index rose 1.1%.

Recommended

  • Bella Hadid Calls Police After Finding Online Stalker Outside Her Home

    Bella Hadid Calls Police After Finding Online Stalker Outside Her Home

    Later that day, Bella headed into rehearsals with TRESemme for Jason Wu's New York Fashion Week show at Spring Studios. Perez was arrested around 9:35 p.m. last night and was charged with aggravated harassment and stalking.
    Minnesota Democrat Rep. Rick Nolan's Retirement Will Open District to GOP

    Minnesota Democrat Rep. Rick Nolan's Retirement Will Open District to GOP

    The National Republican Congressional Committee is well aware of this and is already prepping its candidate, Pete Stauber, a St. Nolan, however, hopes his early exit will give Democrats a chance to preen their own capable contender.
    US Dow Jones plunges over 1000 points

    US Dow Jones plunges over 1000 points

    About 10.5 billion shares changed hands in US exchanges, well above the 8.2 billion daily average over the last 20 sessions. US 10-year yields rose back as high as 2.80 percent after approaching two-week lows around 2.65 percent on Tuesday.
  • How major U.S. stock indexes fared Friday

    Analysts and traders say the sell-off had begun a major correction to nine years of near uninterrupted gains for Wall Street . The S&P 500 lost $2.49 trillion in market value since January 26 through Thursday, according to S&P Dow Jones Indices .

    Trump just praised the White House aide accused of domestic abuse

    But there are growing questions about how Mr Porter managed to maintain a position of high influence despite the allegations. He did a very good job when he was at the White House'. "He is a friend, a confidant and a trusted professional".
    Acne Patients are At a Higher Risk of Depression

    Acne Patients are At a Higher Risk of Depression

    In one study, researchers found that nearly 20 percent of those with psoriasis suffer from some form of depression. Doctors could be advised to monitor moods in acne patients, helping them get treatment if necessary.
  • England will look to use Jonathan Joseph to unsettle Rhys Patchell

    England will look to use Jonathan Joseph to unsettle Rhys Patchell

    Regardless of the sport there is always a massive rivalry between England and Wales and women's rugby is certainly no different. Everything is on the server there so we can look at whatever we want - any game you can think of is available on there.

    Is this stock Risky for You?: Patterson-UTI Energy, Inc. (PTEN)

    ValuEngine cut Patterson-UTI Energy from a "hold" rating to a "sell" rating in a research report on Friday, February 2nd. Schwab Charles Investment Management Inc. boosted its stake in Patterson-UTI Energy by 26.7% during the third quarter.
    This could be the worst week for stocks since 2008

    This could be the worst week for stocks since 2008

    In 1987, the Dow plunged 508 points in one day-and sustained a loss of 22.6%, the largest one-day decline in the Dow's history. The suspension of shares in Produce Exchange Trust Company prompted fears of a market bubble in industrial stocks.
  • Mariner East 2 to resume construction following agreement with Pa. regulators

    Mariner East 2 to resume construction following agreement with Pa. regulators

    Rolfe Blume holds up bottles of water that he said came from his well after construction started on the Mariner East 2 pipeline . Before the DEP's order to stop work in January, ETP had expected to complete the project in the second quarter of 2018.
    Alpine Skiing - Vonn in tears over memory of grandfather

    Alpine Skiing - Vonn in tears over memory of grandfather

    What set her apart was not just her technique, but her physical power, according to Miller. In the most human of ways, world-class athletes are not so different than you or me.
    Ex-Arsenal man predicts a Newcastle defeat this weekend

    Ex-Arsenal man predicts a Newcastle defeat this weekend

    Now, for a few months he is free of minor injuries and I'm really happy. "I think the natural outcome of it is he will have a new contract, and he will be a Manchester United player many years long".

'Fifty Shades Freed' Director Says 'Full-Frontal' Footage of Jamie Dornan Was Shot 'Fifty Shades Freed' Director Says 'Full-Frontal' Footage of Jamie Dornan Was Shot After three films together, one might expect the two main characters to, you know, actually know a thing or two about each other. As the credits roll, we get a lot of close-ups of Ana's attractive lace wedding dress hanging delicately off her shoulders.

Star Wars, Marvel shows in the works; Defenders staying at Netflix Star Wars, Marvel shows in the works; Defenders staying at Netflix This means that any content that fits into this rating will be on Hulu or stay where it is, such as Marvel's shows on Netflix. The plan is to produce four or five original films in its first year, and create five TV series .

Former Playboy Playmate Kristina Shannon Alleges That Paul Marciano Sexually Assaulted Her Former Playboy Playmate Kristina Shannon Alleges That Paul Marciano Sexually Assaulted Her He also said he was never alone with the model, which Upton agreed with. It used to work in the past but that's not the case anymore". "It made me question what I was doing".

Syrian Army Shoots Down Israeli Jet after 'Aggression' on Base Syrian Army Shoots Down Israeli Jet after 'Aggression' on Base Israeli "aggression" targeted an army base in the central region of Syria, Sana reported, citing a military official. Images emerged online purporting to show the F-16 crash site and an operation to evacuate the pilots.

Dana White Comments On Brock Lesnar Possibly Fighting In UFC This Year Dana White Comments On Brock Lesnar Possibly Fighting In UFC This Year It just goes to show [the UFC's] credibility when they say a guy like Brock Lesnar is coming back. He's just a cheater. "There should be a show for steroid users like him".

India's Health Check-Up: Kerala On Top, UP Makes Short-Term Gains India's Health Check-Up: Kerala On Top, UP Makes Short-Term Gains Kant added that the next such report on the states' performance will be released in June. Among the large states, Kerala, Punjab and Tamil Nadu occupy the top three spots.

Winter Olympics begin with show of unity between North and South Korea Winter Olympics begin with show of unity between North and South Korea Kim Yo Jong is the first member of the North's ruling dynasty to visit the south since the end of the Korean War in 1953. But privately, officials said, Pence expressed concern to Moon about his more conciliatory tone toward North Korea.

Four memorable moments from the Winter Olympics opening ceremony Four memorable moments from the Winter Olympics opening ceremony Their participation in Pyeongchang , nonetheless, is certain to inspire a future generation of Malaysian winter sport athletes. Kim Yo Jong is the first member of the North's ruling dynasty to visit the south since the end of the Korean War in 1953 .

Unified: Korea marches together at 2018 Opening Ceremony Unified: Korea marches together at 2018 Opening Ceremony In October 2017, Kim Yo Jong was named as a member to the Workers Party's Politburo, the country's highest political assembly. A Japanese official praised Pence for his strong words and statesmanship but declined to comment on Mr.

Cops: Man spanked stranger's son, 2, in grocery store Cops: Man spanked stranger's son, 2, in grocery store James Morris was not bothering a soul Tuesday as he stood in the self-checkout area of a local Kroger with his 2-year-old son. Officers reportedly noticed slurred speech and a strong odor of alcohol coming from him.

Paul seeks Senate vote to restore spending caps as shutdown looms Paul seeks Senate vote to restore spending caps as shutdown looms But the conservative House Freedom Caucus said it opposed the measure. But hurdles remain to avert the second shutdown in a month.

Google Hit with Class Action Lawsuit Over Pixel Smartphone Glitches Google Hit with Class Action Lawsuit Over Pixel Smartphone Glitches After publicly acknowledging this issue back in March 2017, Google had advised replacement of Pixel smartphones in warranty. The search giant also said that only 1% of its Pixel devices sold were affected with this hardware problem.

Night to Shine offers fancy event for those with special needs Night to Shine offers fancy event for those with special needs While prom season is still a few months away, Friday was prom night for some awesome people that call the Tri-Cities home. Marketing Coordinator for Night to Shine, Kristen Thompson said, "Tonight is just all about them".

Terrorist attack Sunjwan Army camp in J&K, 2 injured Terrorist attack Sunjwan Army camp in J&K, 2 injured The camp, strategically located on Srinagar-Jammu-Pathankot highway, is surrounded by dense population. Schools within 500 meters of the camp have been asked to remain closed by district administration.

Cheniere Energy Partners LP Holdings LLC (CQH) Short Interest Update This is calculated by taking the earnings per share and dividing it by the last closing share price. 12,339 are held by Ahl Llp. The Spirit Of America Management Corp holds 663,261 shares with $19.12 million value, up from 652,061 last quarter.