Tokyo stocks plunge over 4% after Wall Street sell-off
Feb 09, 2018, 04:32
US stocks swooned Friday and Monday as investors anxious that accelerating inflation and higher interest rates could derail the market's record-setting rally. Markets can not be one way.
Britain's FTSE 100 was down 0.8 percent to 7,222 points and France's CAC 40 dropped 0.7 percent to 5,218. The Standard & Poor's 500 index, the benchmark most professional investors and many index funds use, sank 4.1 percent, to 2,648.94. Hong Kong's Hang Seng index rose 0.6 percent to 30,512.92, while the Shanghai Composite index lost 0.6 percent to 3,290.62. The steep drops Friday and Monday erased the gains the Dow and S&P 500 made since the beginning of the year, but both remain higher over the past 12 months.
The S&P 500 is up 8.05 points, or 0.3 percent.
The market seems to have taken on a mind of its own, sending Wall Street into a frenzy amid trepidation over growing interest rates.
Investor sentiment was dampened by other Asian markets' weakness, said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management Co.
Big dividend companies including utility and real estate companies fell, as bond yields increased after a sharp drop on Monday. Retailers including Amazon and Home Depot made small gains, a possible sign of confidence the USA economy will keep growing.
US equity indexes fluctuated on Tuesday after a tumultuous morning that saw the Dow Jones Industrial Average swing more than 900 points in 25 minutes.
"Market jitters are to be expected following the USA plunge on Friday and Monday, but this is only the beginning", said Wu Xianfeng, president of Longteng Asset Management, in Shenzhen.
The so-called Vix volatility index more than doubled in USA trade on Monday. Lower interest rates hurt banks because they can not charge as much money for mortgages and other types of loans.
Fowler holds one-shot lead at Phoenix Open
Fowler finished second here in 2010, as well, and finished T4 a year ago . "The swing was just a fraction off. Saturday's crowd pushed the week total to 654,906, just short of the record of 655,434 set previous year .
"The 10-year rate went back up.so if you start making new territory there, that could start making people very nervous". Schutte added that corrections can end quickly, and they often do so when investors see evidence of continued economic growth.
Economy Minister Toshimitsu Motegi said he was keeping a close eye on market movements, adding that Japan's economy remained stable and improving.
Japan's Nikkei share average tumbled 5 percent to hit a near four-month low on Tuesday morning after Wall Street posted its worst decline in four years on fears about rising US bond yields and potentially rising inflation.
The Dow Jones industrial average rose 317 points, or 1.3 percent, to 25,230. It ended the day 2.6% - or 193 points - down at 7141.
Australia's main index rallied 1.1 per cent and Japan's Nikkei rose 2.9 per cent. This came after two days of heavy selling, including the Dow's biggest intraday decline in history on Monday.
Meanwhile, in Egypt, one of the largest consumer markets in the region, the EGX30 was trading 2 percent lower and the EGX50 was down 3 percent.
ENERGY: Benchmark U.S. crude lost 46 cents to $61.33 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude futures gained 42 cents to $67.28 a barrel.
The dollar fell to 109.22 yen from 109.33 yen. Gainers included technology companies, retailers like Amazon and Home Depot, and industrial companies and banks.
On Monday, the Dow finished down 4.6 percent, the biggest decline in percentage terms since August 2011, when investors were fretting over Europe's debt crisis and the debt ceiling impasse in Washington that prompted a USA credit rating downgrade. The last fall of that size came in August 2011 when investors were fretting over Europe's debt crisis and the debt ceiling impasse in Washington that prompted a USA credit rating downgrade.
He played the past two years under the franchise tag, but the Redskins wanted to either sign him to a long-term deal or move on. Cousins may be interested in coming to a Cleveland team that is young and that has been stuck in a 20- some year rebuild.
She also encouraged the African Union and IGAD East African group to consider sanctions against those undermining peace efforts. The Obama administration attempted in December 2016 to convince the United Nations to back an arms embargo against South Sudan.
The long-awaited budget was finally announced today by the Finance Minister of India , Arun Jaitley in Lok Sabha . The higher target came in place of the 3.2 per cent for the current fiscal announced earlier.
A large contingent of security personnel secured the area after the attack and started an initial investigation into the blast. An officer was among those who died in the bombing, which was claimed by the Pakistani Taliban in an email to journalists.
Fisher said his wife kept asking him nearly every day what he was going to do. "She wanted me to do it", Fisher said. Fisher said his wife, country music star Carrie Underwood , encouraged him to make a comeback.
That should mean plenty of playing time for backup guard Terry Rozier, who is averaging 9.1 points per game off the Boston bench. Irving led the C's with 27 points in a 111-110 win over the Denver Nuggets on Monday night to close a hard road trip at 2-2.
The 31-year-old had signed a one-year, $13 million deal with the White Sox before they traded him to the Yankees. Still, his arrival will please many Mets fans who had been angered by the team's lack of spending this offseason.
As traders are becoming increasingly panic-struck in the markets, the government has to take steps to ensure that calm prevails. Trade in bitcoin denominated in Korean won stood at around 4 percent on Tuesday, according to CryptoCompare.
Jaffetilchin Investment Ptnrs Ltd Liability Corp owns 0.12% invested in Valero Energy Corporation (NYSE:VLO) for 6,865 shares. The fund owned 20,919 shares of the entertainment giant's stock after acquiring an additional 561 shares during the period.
The December goods-and-services gap was wider than the median estimate of economists surveyed by Bloomberg for $52.1 billion. Tax reform, which is strengthening the economy already, may push the trade deficit even higher.
The United States will send its largest team ever to a Winter Games, with 242 athletes, followed by Canada with 226. The IOC banned Russia from competing in them in December, but has invited 169 Russians to compete as neutrals.
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Many users have been facing this issue since December and a rising number of complaints has been filed in Apple's support forums . So your phone would ring, but you wouldn't see any details of who the caller is or whether in fact, it is a phone call or not.
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Hoeven statement on Nuclear Posture Review
That means effectively deterring Russian Federation from using its small-scale nuclear arsenal for tactical military operations. It asserts that any North Korean nuclear attack against the US or its allies will result in "the end of that regime".
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Amazon also benefited from favorable foreign exchange rate changes over the year, amounting to a $1.1bn windfall. Amazon's cloud unit, AWS, continued to be the fastest-growing and most profitable business of the company.
Fox to broadcast Thursday Night Football for next five seasons
Overall, NFL ratings last season were down 9.7 percent compared to 2016 and the 2016 numbers were down about 8 percent from 2015. Look for the same talent sharing agreement between the NFL Network and Fox Sports when it comes to the pregame show coverage.