Dow industrials sink 831 points as tech stocks plunge
Dow industrials sink 831 points as tech stocks plunge
Dow Falls 430 Points as Bond Yields Surge and China Tensions Grow
11 October, 2018, 23:30
"As stocks go up, tech goes up more than the stock market".
And right now tech stocks-like the trillion-dollar Apple-have dominated a significant part of the rise in value of the market as a whole. "This meltdown isn't just a mild case of the sniffles suggesting the latest sneeze from the US equity market could morph into a global markets pandemic".
Alibaba dropped 4.1 percent after Morgan Stanley and Raymond James cut their near-term profit estimates on the Chinese e-commerce company, citing a softer economic environment in China.
Adding to the worries was the impact of Hurricane Michael on insurance companies as well as fears about demand in China which weighed on luxury brands such as Tiffany - down 10% - as well as Ralph Lauren, which was off 8%.
Stocks and bonds traditionally have been in a tug of war for capital, but for the past 10 years bonds have had one arm tied behind their back, said Jack Ablin, chief investment officer and founding partner at Cresset Wealth Advisors in Chicago.
United States government bonds resumed a selloff after rising to multi-year highs last week, with the 2-year yield rising to 2.906%, its highest level since June 2008. That's helped make technology stocks more volatile in the last few months.
Some analysts have blamed rising interest rates for the selloff.
"Amazon recently announced they were increasing wages, Facebook is spending a ton on security", she said.
Kyrgios in trouble with tennis officials again The day featured most of the opening round singles matches, providing some fine exhibition of tennis throughout the day's play. Kyrgios was infuriated by the French chair umpire's comment, ultimately threatening him with action.
"The stock market in the US has started to take notice, and will continue to, particularly if the speed at which rates rise becomes alarming", Jeffrey Gundlach, chief executive of Doubleline Capital, told Reuters last week. Only 17 stocks in the S&P 500 wound up with a gain. Heating oil fell 1.2 percent to $2.39 a gallon.
It is the biggest sell-off in United States markets since February, a negative sentiment also reflected in European markets - with Paris (-2.1pc), Frankfurt (-2.2pc) and London (-1.3pc) finishing deep in the red.
Sears nosedived after the Wall Street Journal reported that the struggling retailer hired an advisory firm to prepare a bankruptcy filing that could come within days. It was more than $40 five years ago.
US crude fell 1.98 per cent to $71.72 per barrel and Brent was last at $81.30, down 2.15 per cent on the day. Natural gas rose 0.6 per cent to $3.28 per 1,000 cubic feet. Copper fell 0.9 per cent to $2.78 a pound.
The Nasdaq composite rose 15 points, or 0.2 percent, to 7,436. In Asia, Tokyo's Nikkei 225 gave up 3.9 per cent and Hong Kong's Hang Seng index shed 3.5 per cent.
Globally, France's CAC 40 dropped 1 per cent and the DAX in Germany lost 0.6 per cent. Britain's FTSE 100 sank 1.3 per cent. The euro rose to $1.1525 from $1.1496.
Gomez didn't attend the American Music Awards last night and the site notes that her team has been virtually silent recently. Selena was then taken to an East Coast psychiatric facility, where she is now receiving dialectical behavior therapy.
Mr Khashoggi was last seen visiting the consulate last week and Turkey says he may have been murdered there. Ankara's relationship with Riyadh is too important to jeopardise on the basis of unsubstantiated rumour.
Reynolds said she and her friend even bought scratch-off tickets because they felt luck was in their favor after the storm. As the storm came ashore Wednesday, tornado risks grew, with warnings issued as far south as Sarasota County.
A buyer would not normally be expected to go through with the purchase if a work is damaged while in the care of an auction house. Girl With Balloon , one of Banksy's most widely recognised works, was auctioned by Sotheby's in London on Friday night.
As of around 8pm, Michael was about 20 miles southwest of Albany, Georgia, with winds of 100 mph, becoming a category 1 storm . It appeared to be so powerful that it was expected to remain a hurricane as it moved into Alabama and Georgia early Thursday.
US Secretary of State Mike Pompeo has called for Saudi Arabia to support an investigation into Khashoggi's disappearance. The Turkish government has claimed that Khashoggi was killed in the consulate , on the orders of the Saudi government.
A National Ocean Service water level station at Apalachicola recently reported almost 5.5 feet of inundation above ground level. An official with an emergency management agency said Tropical Storm Michael is responsible for a child's death in Georgia.
The quad camera definitely looks interesting, but we'll have to wait and see how useful it is in real-world usage conditions. As for a release date, the Galaxy A9 will be releasing in select markets sometime in November.
Donald Trump welcomes Kanye West to the Oval Office
Trump said "honestly I'm doing a great job" and pointed to the size of the crowds at his campaign-style rallies as proof. West said to the president, "I didn't mean to put you on blast like that, bro". "We are one country".
Why has Samsung put four cameras on the Galaxy A9?
Dubbed as the Samsung Galaxy A9 (2018 ), it comes with a total of five cameras- four on the rear side and one on the front side. The high-end Glaxy A9 is equipped with some other exciting features such as big display , powerful SoC and a large battery .
Trump signs bills on day of Kanye West's visit
Trump's clothing line is made in China, but West did not mention that. "People try to scare me into not wearing this hat. West also says that many people believe that if someone's black, then that person has to be a Democrat.
Michael crawls north, rising threat to Florida
The "risk of risky storm surge, rainfall, and wind impacts continues to increase", the National Hurricane Center warned Sunday. He urged Floridians to get prepared for the storm and said he has activated 500 members of the Florida National Guard.