Dow ends brutal session with 3.1% loss, Nasdaq down 4%

11 Octobre, 2018, 03:28 | Auteur: Auguste Feret

USA 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.

US stocks plunged to their worst loss in eight months on Wednesday as technology companies continued to drop.

It was the fifth negative day for the S&P 500, and the longest losing streak during the Trump presidency.

Trade-sensitive industrial stocks also fell as tensions between Washington and Beijing persisted.

Today technology stocks saw their worst overall day since 2011 as investors concerns continue to mount over rising interest rates.

Highly performing companies are often hit the hardest when fears rise over rapidly increasing interest rates and the S&P Information Technology Index (INDEXSP:SP500-45) is comprised of some of the world's most valuable technology stocks such as Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Google (NASDAQ:GOOGL), and Facebook (NASDAQ:FB).

In further evidence that stocks can rally despite rising Treasury yields, LPL Research found that in all 12 periods of rising 10-year yields since 1996, the S&P 500 ended the period higher than it began, according to senior market strategist Ryan Detrick.

The Dow Jones industrial average gave up 738 points, or 2.8 per cent, to 25,686.

The Dow Jones has dropped by 3.2 per cent to 25,599 points. The pan-European FTSEurofirst 300 index of leading regional shares closed down 1.57 percent.

This time around, strong economic data anxious bond investors, who sent the benchmark yield on Tuesday to 3.261 per cent, the highest since early May 2011.

Sears hires a bankruptcy expert
The retailer warned last month it may go out of business if the deals proposed by Lampert were not approved. Sears and Kmart had 89,000 employees as of February 3 of this year, according to a company filing.

La dernière saison du jeu Telltale finalement sauvée — The Walking Dead
En espérant une amélioration des chiffres dans les semaines qui viennent, (re) découvrez la bande-annonce de l'épisode 2. En 2010, le pilote du show avait ainsi comptabilisé 5,35 millions de curieux (voir tableau ci-dessous).

Indonesia says death toll in Sulawesi quake rises past 2,000
The quake and subsequent tsunami have killed at least 2,000 people with thousands more possibly missing, according to Indonesia. There is an ongoing search for victims but the government said it will stop recovery operations on Thursday.

The Standard & Poor's 500 index fell 94 points, or 3.3%, to 2,785 on Wednesday, its biggest one-day loss since February 8.

Big moves in interest rates tend to unsettle investors, and they can also push them to sell stocks and buy bonds instead.

U.S. stocks notched solid gains in the third quarter as investors brushed aside worries about trade wars and focused on strong corporate earnings and solid United States economic data.

Tom Cahill of Ventura Wealth Management said investors were unnerved by remarks from luxury company LVMH of a crackdown on some goods in China amid the country's bitter dispute with the US. Higher rates can slow economic growth, erode corporate profits and make investors less willing to pay high prices for stocks. A move of more than two deviations, or 40 basis points now, leads to negative S&P 500 returns, Goldman says.

Oil prices fell more than two percent as US stocks plunged, even though energy traders anxious about shrinking supply from Iran due to US sanctions and kept an eye on Hurricane Michael, which closed almost 40 percent of US Gulf of Mexico output.

Tech is taking its lumps because bond yields have climbed in recent weeks, hovering at a more-than-seven-year high.

The Nasdaq fell 177 points, or 2.3 percent, to 7,560. Brent crude, the worldwide standard, lost 2.2 per cent to US$83.09 a barrel in London.

All 30 Dow stocks were in the red, sending the index below 26,000 points for the first time in a month.

Gold rose 0.2 per cent to $1,193.40 an ounce.

The Australian dollar slipped against major currencies, down to 70.7 U.S. cents, 53.6 British pence, 61.4 Euro cents and 79.5 Japanese yen. The British pound rose to $1.3197 from $1.3146.

Conseillé:

  • Lourd bilan humain — Inondations à Majorque

    Lourd bilan humain — Inondations à Majorque

    Les secouristes sont à l'oeuvre depuis la nuit pour rechercher les disparus. La chambre des députés a observé une minute de silence mercredi matin.
    International Monetary Fund  raises Japan growth forecast, cuts global estimate due to trade tension

    International Monetary Fund raises Japan growth forecast, cuts global estimate due to trade tension

    The IMF said it expects inflation to accelerate around the world this year, due largely to increasing commodity prices.
    Pet Sematary's First Trailer Is As Creepy As You Hoped

    Pet Sematary's First Trailer Is As Creepy As You Hoped

    Jason Clarke and Amy Seimetz star, with John Lithgow , Alyssa Brooke Levine , Hugo Lavoie , Jeté Laurence , and Obssa Ahmed . Lorenzo di Bonaventura (1408, Transformers) is producing along with Mark Vahradian and Steven Schneider (Insidious).
  • McConnell says Kavanaugh fight widens gender gap

    McConnell says Kavanaugh fight widens gender gap

    And it comes as the president is on a high wave following a series of wins, including Kavanaugh's confirmation. I knew that a long time ago. "Even the reporter who broke the story said it wasn't me or my staff".
    Le scénario noir des experts internationaux — Réchauffement du climat

    Le scénario noir des experts internationaux — Réchauffement du climat

    Selon le Giec , "il est probable" que le réchauffement atteigne 1,5 °C entre 2030 et 2052 s'il se poursuit à son rythme actuel. A +2°C ce serait 10 cm de plus, soit jusqu'à 10 millions de personnes supplémentaires affectées.
    Pope Francis compares abortion to 'hiring a killer'

    Pope Francis compares abortion to 'hiring a killer'

    It also forbids euthanasia but says that a family or a patient can decide to stop using extraordinary means to keep people alive. Francis this year opposed a bill that would have legalised abortion in his home country of Argentina.
  • Le journaliste Jean Lanzy est décédé à Aigues-Mortes — Gard

    Le journaliste Jean Lanzy est décédé à Aigues-Mortes — Gard

    Le couple était "tombé en amour pour Aigues-Mortes", disait-il, au point de s'y fixer définitivement intra-muros pour sa retraite. Il est par la suite nommé directeur délégué de l'information et, en 1985, directeur délégué aux programmes et à l'information.
    Essais nucléaires: La France accusée de crimes contre l'humanité

    Essais nucléaires: La France accusée de crimes contre l'humanité

    Une commission parlementaire doit désormais rendre des propositions sur l'indemnisation des victimes "avant la fin de l'année".

    Google conteste la condamnation de la Commission européenne — Android

    D'après Reuters, en raison de la complexité de l'affaire, l'appel pourrait mettre des années avant d'être jugé. En juillet dernier, Google a écopé d'une amende record de 4,34 milliards d'euros en Europe au sujet d'Android.
  • Trump Says Fed Has Gone 'Crazy' With Interest Rate Hikes

    In September, the Federal Reserve raised short-term interest rates for the third time this year. But he's also calling the drop "a correction we've been waiting for for a long time".

    Camila Cabello Delivers Emotional "Consequences" Performance At 2018 AMAs

    During the red carpet, Camila posted an Instagram revealing who DID get the honor of taking her to the 2018 American Music Awards. After singer her long-awaited track, the singer-songwriter warranted a standing ovation from the moved audience.
    Christensen suggests he could look to leave Chelsea

    Christensen suggests he could look to leave Chelsea

    His efforts earned him Chelsea's Young Player of the Year Award as he looked set to have a bright future at Stamford Bridge. Not preferred by new boss Maurizio Sarri, the Danish defender did however downplay fears of a January exit.


Populaire

Jimmy Butler Returns To Practice, Verbally Challenges Coaches, Teammates
When reporters were allowed in at the conclusion of practice, Butler wasn't on the court. "It's just a matter or when". According to ESPN , the Wolves were close to a Butler trade with the Heat this weekend, but it fell apart.

TPMP: Cyril Hanouna veut régler ses comptes avec Alain Chabat !
Depuis le début du mois d'octobre, le jeu de l'émission " Burger Quiz " est en vente. Entre Cyril Hanouna et Alain Chabat il y'a comme de l'eau dans le gaz .

Le concert de Lil Wayne se termine dans la panique générale !
Rien n'indique que des coups de feu ont véritablement été tirés, affirment les policiers. En mai 2015, l'autobus de tournée de Lil Wayne avait été la cible des balles à Atlanta.

"Complètement dingue", "bête", "mauvais", … : des cadres FO fichés dans un document interne
Selon Le Parisien , les commentaires pouvaient également portés sur l'opinion politique, voire l'orientation sexuelle. Interrogé par l'hebdomadaire, le secrétaire général actuel, Pascal Pavageau , évoque une " belle connerie ".

Liverpool's Fabinho enjoying learning Jurgen Klopp's style of play
And we hope that they come back healthy and play these easy competitions, the Premier League, the Champions League and all this.

Billy Joe Saunders Denied A Licence, Title Fight Set To Cancelled
The Matchroom boxing boss said he has "signed a contract" for Namibian Walter Kautondokwa to face American Andrade. They didn't petition the WBO to strip Saunders of its 160-pound championship, either.

The Rock Is Starring In Netflix's 'John Henry and the Statesmen'
In this movie, I'll lead an ensemble of the most popular folklore figures and legends from different cultures around the world. Kasdan will direct and The Rock will star as the titular American folk hero. "The possibilities are limitless".

Majorca floods: Two Britons reported among five dead amid 'biblical' scenes
Other victims were found in Arta and the coastal town of S'illot, where the overflowed creek reaches the sea. The flooding also affected phone communications, destroyed two bridges and forced the closure of 11 roads.

Malcolm McDowell To Play Rupert Murdoch In Fair And Balanced
Showtime is also putting together a limited series starring Russell Crowe as Ailes and Naomi Watts as Gretchen Carlson . Other characters that will be included in the film are former anchor Greta Van Susteren and former host Bill O'Reilly.

Safeway Open: Kevin Tway outlasts Brandt Snedeker, Ryan Moore in playoff holes
Kevin Tway hit three consecutive birdies in the play-off to seal his first PGA Tour title at the Safeway Open in California. I was kind of right there, but kind of hanging around. "There was debris flying everywhere".