Dow dives almost 800 points on fears of economic slowdown
Dow dives almost 800 points on fears of economic slowdown
Dow plunges nearly 800 pts: Aus share to drop at open
07 December, 2018, 14:11
The Dow closed down 799.36 points or, 3.10 percent, at 25,027.07, while the S&P 500 fell 3.24 percent and the Nasdaq Composite slid 3.8 percent, as President Donald Trump stoked trade war fears and a flattening yield curve prompted worries of a recession.
The S&P 500 is up 26.45 points, or 1 per cent. -China trade talks. The inversion of a portion of the Treasury yield curve for the first time since 2007 reinforced the impression that markets are approaching the end of the current cycle.
Technology companies, banks and industrial stocks accounted for much of the sell-off as traders moved assets into the relative safety of US government bonds, driving yields sharply lower.
For Capital Economics, "we doubt that the ceasefire agreed between Presidents Trump and Xi in Buenos Aires will mark a real turning point in the trade war".
The president tweeted optimistically about the chances for a deal with China, writing "President Xi and I want this deal to happen, and it probably will". USA futures also augured a downbeat start for Wall Street after markets were closed Wednesday to mourn the death of former President George H.W. Bush.
This is a much different characterisation of the China talks than just three days ago when Trump had dinner with China's president at a meeting of the Group of 20. "Financial markets are increasingly showing signs of fear of a recession".
A note from S&P Global Ratings predicted that United States growth would slow from 2.9 per cent in 2018 to 2.3 per cent in 2019 and 1.8 per cent in 2020, adding that the United States was nearing the "latter" stages of a multi-year growth cycle.
FED WATCH: Markets got jolt from remarks by the president of the Fed's NY regional bank.
While the more closely watched part of the Treasury yield curve - the gap between two-year and 10-year yields - remains upwardly sloped, it flattened to just 15 basis points Monday.
The comments came after those from Fed chair Jerome Powell last week, which lifted stocks as they were interpreted as suggesting a less aggressive path of rate hikes.
Large banks were among the big losers, with JPMorgan Chase shedding 4.4 percent, Bank of American losing 5.7 percent and Citigroup 5.6 percent. The slide in bond yields, which affect interest rates on mortgages and other consumer loans, weighed on bank stocks.
Ahead of the upcoming OPEC meeting on Thursday in Vienna, Bjarne Schieldrop, chief commodities analyst at SEB, the leading Nordic corporate bank, said he believed continued cooperation would help oil prices stay above $60 a barrel. Toll's shares slid 1.6 percent to $32.99.
Brent crude, the worldwide standard, added 0.6 percent to close at $62.08 per barrel in London. The euro was little changed at $1.1342.
Obsidian's official website and Twitter page have been counting down to the awards, teasing a "special message" is on the way. The Game Awards are here again, one of the most prestigious end-of-year awards ceremonies for the video game industry.
Also, China's commerce ministry made no mention of the auto tariff cuts which Mr Trump said earlier this week China had agreed to. At the same time, analysts said they were relieved that the Trump-Xi meeting at least pressed the "pause" button on tariff hikes.
Exactly one week after NASA landed a spacecraft on Mars , the Osiris-Rex craft's odometer showed 1.2bn miles (2bn km) travelled. Scientists say the mission will tell us about the origins of the solar system and how to protect Earth from asteroid impacts.
In the video , Cox said a lot of children today feel that the things their parents do for them are a right and not a privilege. A father in Ohio, USA has made his daughter walk to school after she was suspended from the bus for bullying.
The U.S. sees Huawei and smaller Chinese tech suppliers as possible fronts for Chinese spying and as commercial competitors. The government cited concerns over Huawei's close ties to the Chinese government, arguing this made it a security risk.
Meanwhile, Musk tweeted that the problem was that a "grid fin hydraulic pump stalled, so Falcon landed just out to sea". If the booster had veered off-course more than two minutes before landing, Gebhardt said, then it would have exploded.
David Mulroney, a former Canadian ambassador to China, said US and Canadian business executives could face reprisals in China. China urged Canada and the United States to "clarify" the reason for Meng's arrest and demanded her release.
Chelsea lost for the second time in three matches, squandering an early lead in a surprise 2-1 defeat at Wolverhampton Wanderers. Wolves registered their first win in seven games despite going behind to Ruben Loftus-Cheek's 18th minute opener for Chelsea.
An Apple exec last week told CNET that the iPhone XR was the " most popular iPhone each and every day since it became available ". Mention must be made that all the latest models like iPhone XS, XS Max and XR are not eligible for $29 replacement batteries.
Mika Singh arrested for alleged sexual harassment
Singer Mika Singh has been detained in United Arab Emirates (UAE) after a girl complained against him for alleged harassment. A year before that, Mika was arrested and released on bail for allegedly assaulting a doctor during one of his concerts.
UK's Brexit vote to go ahead on schedule
Before the prime minister appeared at the despatch box, her government had gone down to defeat for the third time in an hour. His full advice has been published after the government was found in contempt of Parliament for not releasing it last month.
'Game of Thrones' Season 8: HBO Drops First Official Teaser
In the meantime if you need a content fix and it just won't go away you can visit JOE's dedicated Game of Thrones hub right here . Cersei Lannister, however, was still safe in the south of Westeros with Jaime deserting her and riding up north.
Trump Resort Hired Undocumented Workers 6 December 2018
The Trump Organization, which owns the golf course, did not comment specifically on Ms.[Victorina] Morales or Ms.[Sandra] Diaz. In other respects, the women described some of the perks of employment, even earning cash tips from Trump.
Trump Will Pick Heather Nauert to Be UN Ambassador
He added: "She's excellent, she's been with us a long time, she's been a supporter for a long time, really - excellent". Nauert has kept close ties to the West Wing and is seen by the president as more inclined to defend him on the job.
Kohli falls as Australia strikes put India on ropes
Paceman Mitchell Starc was one of four Australian bowlers to claim two wickets and said his team was in an excellent position. KL Rahul, who has been struggling for runs, flopped again, caught by Aaron Finch at third slip off Hazlewood for two.
Bob Dole salutes former president Bush
President Donald Trump , a fellow Republican, planned to visit with the mourning family at Blair House, near the White House. Bush and his wife greeted the Trumps outside before everyone went in for the private, 20-minute visit.
Bob Dole stands to salute George H. W. Bush at capitol memorial
A national day of mourning has been declared for today to honor the life of the 41st president of the United States, George H.W. President Donald Trump did not attend, but he and first lady Melania Trump came to the Capitol later on Monday to pay tribute.
Infant Ibuprofen Recalled At CVS, Walmart, Family Dollar
Possible adverse effects include nausea, vomiting, epigastric pain, diarrhea, tinnitus, headache and gastrointestinal bleeding. The recalled medications were 0.5 ounce bottles sold nationwide at CVS, Family Dollar and Walmart stores.
Galaxy Note 9 One UI (Pie) beta has been released
The report further states that beta builds are now available for Galaxy Note 9 units in the United States, India, and Germany. The first UI from the company was called TouchWiz, which was then changed to Experience UI and now we are getting the One UI.