Dow plunges 1000 as market enters 'correction'

Dow plunges 1000 as market enters 'correction'

Major indexes in Asia and Europe took steep losses and US markets started sharply lower, only to repeatedly change direction. The S&P 500 fell more almost 40 points to 2,541, and the Nasdaq tanked more than 100 points after coming out of the gate up 1.5 percent from the previous day. South Korea's Kospi, which saw only modest losses on Tuesday, fell back by midday, losing 0.7 per cent to 2,435.05.

The benchmark S&P/ASX200 stock index was down 1.6 per cent after the first half-hour of trade, with every sector trading in the red and the market at its lowest level since October.

Australia's S&P/ASX 200 was up 1.0 per cent at 5,889.60.

US crude oil fell 76 cents, or 1.2 percent, to close at $63.39 a barrel in NY. All three major indexes are down on the year.

Stocks had plunged four percent on Thursday, sending the Dow and the S&P more than 10 percent below their record highs on Jan 26 and adding to the sense that rising USA government bond yields had begun a major correction to nine years of near uninterrupted gains for Wall Street. "Is the bond market telling us something we don't know?"

The drop in early trading Tuesday marked the third straight day of steep declines.

Past 5 years growth of XYL observed at 2.80%, and for the next five years the analysts that follow this company is expecting its growth at 12.90%.

Despite the big swings, Tuesday's trading looked similar to the patterns that have shaped the market for the past year: investors bought retailers like Amazon and Home Depot and technology and industrial companies and banks, which do better when economic growth is strong. Bond yields are rising as the Federal Reserve trims its US bond holdings.

Big dividend companies including utility and real estate companies fell, as bond yields increased after a sharp drop on Monday.

Читайте также: Jose Mourinho confirms Luke Shaw news and brings rift to an end

Equities for years have looked relatively attractive compared to the low yields offered by bonds, but the rise in Treasury yields has diminished the allure of stocks, especially with stock valuations at historically expensive levels.

USA stocks rebounded in volatile afternoon trading on Tuesday, with major indexes up more than 1 percent following the biggest one-day drops for the S&P 500 and the Dow in more than six years. Based on a recent bid, its distance from 20 days simple moving average is -2.75%, and its distance from 50 days simple moving average is 0.61% while it has a distance of 13.87% from the 200 days simple moving average. Just after 2 p.m., the Dow had surged back into positive territory and up 60 points.

U.S. equities suffered its second sell-off in a week to hit 2018-lows with the Dow Jones and S&P 500 both entering what is deemed correction territory.

Outside of the of Thursday, Japan's Nikkei was in a correction, Germany's DAX was on the cusp of one and the FTSE 100 had dropped 8 percent.

Corrections are seen as entirely normal during bull markets, and even helpful in removing speculative froth and allowing new investors to buy into the market at lower prices. But a steady climb that lasted more than a year has given way to two weeks of shaky selling. Wall Street began shaking last Friday (02/02) after positive U.S. labor market data sparked a spike in bond yields, while climbing USA inflation is feared to trigger new interest rate hikes.

Also Wednesday, US crude oil added 60 cents to $63.99 a barrel in electronic trading on the New York Mercantile Exchange.

The Dow was up 264 points, or 1.1 percent, at 24,122. "The trigger has been the really fast rise in bond yields", said Evan Brown, director of asset allocation at UBS Asset Management.

CURRENCIES: The dollar recovered to 109.42 yen from 108.61 yen late Tuesday.

In other commodities trading, wholesale gasoline remained at $1.77 a gallon. The last bear market was during the 2008 financial crisis.

При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
«» 2007 - 2018 Copyright.
Автоматизированное извлечение информации сайта запрещено.

Код для вставки в блог

Related news:

Hot News

isis-killer-beheading-video-story-top Osinbajo Backs Creation Of State Police
Фев 10, 2018 - 05:26
Osinbajo said at least 13 of the 36 states have released about 5, 000 hectares each for livestock production. Because the ranches are commercial ventures, cattle owners will pay for their use.

isis-killer-beheading-video-story-top Amazon names female NBC exec to head studios unit
Фев 10, 2018 - 05:22
Thankfully for the company, though, Amazon Studios appears to have found the ideal match for such a challenge: Jennifer Salke . A+E Networks' Nancy Dubuc had also been in the running for Price's vacant seat, but she bowed out of the hunt on Thursday.

Greatmark Investment Partners Inc. Sells 1250 Shares of Colgate-Palmolive (CL)
Фев 10, 2018 - 05:11
Nationwide Fund Advsr accumulated 6,862 shares or 0.01% of the stock. 520 are held by Grisanti Ltd Limited Liability Company. The Massachusetts-based Massachusetts Svcs Communications Ma has invested 0.94% in Colgate-Palmolive Company (NYSE:CL).

Burning Stock on the move: Ciena Corporation (NYSE:CIEN)
Фев 10, 2018 - 05:04
Cowen reiterated a "buy" rating and issued a $33.00 target price on shares of Ciena in a research note on Wednesday, December 6th. The company has a market cap of $3,210.00, a P/E ratio of 3.26, a price-to-earnings-growth ratio of 1.42 and a beta of 1.67.

isis-killer-beheading-video-story-top Marco Belinelli reportedly finalizing buyout with Hawks
Фев 10, 2018 - 05:00
Get prep sports breaking news alerts from the Gwinnett Daily Post staff delivered to your email. Belinelli is going to wind up on a contending team and his minutes will likely be dropping.

isis-killer-beheading-video-story-top #VredeDairy: List of Public Protector's findings and recommendations
Фев 10, 2018 - 04:59
One hundred black emerging farmers were promised five cows each as part of the empowerment scheme, but they never received them. The Hawks raided Magushule's office as well as the department last month in its probe of state capture related to the farm.

isis-killer-beheading-video-story-top Stranger spanks toddler in store check-out line, police say
Фев 10, 2018 - 04:59
Martinez was handcuffed and taken into custody when he allegedly slurred his words and cursed in front of employees and customers. Morris said no twice and then, he says, a stranger grabbed the boy and spanked him three times.

isis-killer-beheading-video-story-top Fantasy basketball winners and losers of the Cavaliers' trade-deadline shakeup
Фев 10, 2018 - 04:53
Teams already are lining up for an audience with The King should he turn down $36.5 million and opt out of his contract. And it wasn't just Thomas' poor shooting and defensive holes, he irked teammates and coaches with public comments.

isis-killer-beheading-video-story-top Conman who lied about family's tower block death jailed for 21 months
Фев 10, 2018 - 04:40
Nguyen said he was taken to hospital and treated for smoke inhalation however police were unable to find any record of the visit. The court heard that Nguyen recalled to family liaison officers how he lost sight of his family in a smoke-clogged stairwell.

isis-killer-beheading-video-story-top Pence awkwardly avoids North Korean delegation at Olympics
Фев 10, 2018 - 04:32
The games are seen as a pivotal moment for relations between the two countries, who have been officially at war since 1950. The 30-year-old is the youngest daughter of previous North Korean leader Kim Jong-il, and is a major force in Pyongyang .

isis-killer-beheading-video-story-top American Figure Skater Nathan Chen Suffers Dramatic Fall During Olympic Debut
Фев 10, 2018 - 04:27
Four years ago in Sochi, the US contingent took home a bronze medal in the first-ever figure skating team event. The team competition resumes Sunday, with the ice dance and women's short programs, and the pairs free skate.

isis-killer-beheading-video-story-top Hyundai Super Bowl Commercial 2018: Hope Detector
Фев 10, 2018 - 04:26
Brands like Tide and Wendy's were calling out other brands and competitors, being blatant in their comparisons and poking fun. Danny Mcbride's real-not-real Crocodile Dundee film is the focus of this clever ad for Australian tourism.

isis-killer-beheading-video-story-top Chipotle Mexican Grill, Inc
Фев 10, 2018 - 04:24
Jacobs Levy Equity Mngmt Inc owns 44,583 shares. (NYSE:CMG). 2,288 were accumulated by New Mexico Educational Retirement Board. Cubist Systematic Strategies Ltd Liability Corporation stated it has 0.05% of its portfolio in Chipotle Mexican Grill, Inc.

isis-killer-beheading-video-story-top Larry Nassar Victim Speaks Out Again - Has Major Question About Former Coach
Фев 10, 2018 - 04:17
He allowed Nassar to resume seeing patients in July 2014, shortly after the Title IX investigation ended. Engler is confident "the faculty panel will make such a finding", the release says.

isis-killer-beheading-video-story-top ONGC Q3 net at Rs 5014 cr up 15% on higher prices
Фев 10, 2018 - 04:15
ONGC's total income rose 15 per cent to Rs 24,122.42 crore during the third quarter of 2017-18. 7 per cent QoQ at Rs 3,158. Since retail prices are liked to global product prices, the company makes an inventory gain.