Tech woes, worsening tensions with China sink United States stocks
Apr 04, 2018, 01:48
The Dow Jones industrial average climbed 114 points, or 0.5 percent, to 23,742. Instead of raising money through an initial public offering underwritten by an investment bank, Spotify Technologies took a more unusual route called a direct listing that lets investors sell the stock directly. "China is important, but we trade more with Mexico and Canada", said Hogan of concerns about USA efforts to renegotiate the North American Free Trade Treaty, or NAFTA, with its neighbors.
"The big question is how far the current tremor in the equity market will affect bonds, given it is driven by a single company - even if it is a tech giant having a huge market weight", said DZ Bank strategist Christian Lenk. The S&P 500 index gave up 58.99 points, or 2.2 percent, to 2,581.88. The stock wound up closing down 10.2 per cent at $149.01.
LONDON, April 3 (Reuters) - World share markets struggled to regain their poise on Tuesday, with hopes pinned on a modest Wall Street recovery after both Europe and Asia had fallen on tech and trade war tensions. In recent years, the FAANGs - Facebook Inc., Apple Inc., Amazon.com Inc., Netflix Inc. and Google (controlled by parent Alphabet Inc.) - have produced huge returns for US investors. But Holke, of Wells Fargo, said it's likely the countries will find ways to resolve their differences on issues including complaints that Beijing steals or pressures foreign companies to hand over technology.
The Nasdaq, which set its most recent record on March 12, is down 7.5 per cent in just three weeks.
Shares of US tech giants, including Facebook, Netflix and Google parent Alphabet, all declined overnight in the first trading session of the month, having first sold off in March.
Amazon AMZN.O dropped more than 4 percent after President Donald Trump launched his latest attack over the pricing of the online retailer's deliveries through the US postal system and promised unspecified changes.
US crude gained 14 cents to $63.15, copper jumped 1.4 percent for its fourth straight gain and spot gold ticked down 0.2 percent to $1,338.08 an ounce. Amazon is being hammered partly because of Trump's constant criticism of the firm.
The president has for days been assailing Amazon, lately focusing on a "scam" contract with the U.S. Postal Service that has actually been judged profitable for the post office. Germany's DAX Index dropped 0.8 percent, the UK's FTSE 100 Index slid 0.4 percent, while France's CAC40 Index declined 0.3 percent. The yield on the 10-year Treasury stayed at 2.74 percent after a sharp decline last week.
Wholesale gasoline dropped 5 cents to $1.97 a gallon.
Japan's Nikkei ended down 0.45 percent, after initially falling as much as 1.6 percent.
U.S. WTI crude oil +0.7% at $63.46/bbl. Silver fell 1.7 per cent to $16.39 an ounce.
The dollar dipped in early trading but rebounded to 106.16 yen from Monday's 105.89 yen. Natural gas slid 5 cents to $2.68 per 1,000 cubic feet. The euro fell to $1.2267 from $1.2300.
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Our annual Easter Brunch takes place Sunday, April 1, under the open-air dome of the lovely Rose Hills Foundation Garden Court. There will be a worship service at 10 a.m.at Fort Harmar's River of Life Church followed by an egg hunt at 11:30 a.m.
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May has accused Russia of orchestrating the attack but Russian officials have repeatedly denied carrying out the poisoning. The president chose to congratulate Putin and did not raise the poisoning incident, USA officials confirmed.
Abbasi warmly welcomed Malala on her return to the country and appreciated her efforts for the girls education across the world. All the time I was in cars and planes across the world, I used to tell myself that I am back home in Pakistan .
Senior officials from both sides exchanged views in an amicable atmosphere, reflecting the recent detente on the Korean Peninsula. North Korea has yet to officially confirm its interest in a summit between Kim and President Donald Trump .
Mike Zunino placed on 10-day disabled list
The Indians doubled their lead when designated hitter Edwin Encarnacion led off the fourth inning with a solo home run. If a theme can be deduced from the Mariners first three games, it's that surprises could be in store on a daily basis.
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Successful SpaceX Launch Friday Morning
With this launch, it will be the twelfth commercial resupply mission in which SpaceX will fly to the International Space Station . These satellites are destined to work with other 65 satellites of which total 50 satellites have already been sent to the orbit.
Putin furious over mall inferno negligence
Security guards could have triggered another alarm, but the guard tasked with doing so did not, Bastrykin told Putin. The shopping mall, which opened in 2013, has a cinema, petting zoo, children's center and bowling, Tass reported.
Rory McIlroy knocked out at group stage
Finau won three straight holes on the back nine to take a 1-up lead, only to lose the 14th with a bogey. Justin Thomas is the top seed remaining in the Dell Technologies Match Play and performing like one.