11 additional measles cases confirmed, ‘This is a totally preventable disease!’
Scott Morrison reopens Christmas Island asylum seeker detention centre
USA measles outbreak grows
Fitbit launches Inspire fitness tracker but only businesses can acquire it
Scientists test 'beer before wine and you'll feel fine' hangover theory
Dow Plunges 1175, The Biggest Point Drop In History
09 February 2018, 12:25 | Randall Craig
Dow Plunges 1175, The Biggest Point Drop In History
The financial .SPSY , healthcare .SPXHC and industrial .SPLRCI sectors fell the most, but declines were spread broadly as all major 11 S&P groups dropped at least 1.7 percent. Investors anxious rising wages will hurt corporate profits and could signal an increase in inflation that could prompt the Federal Reserve to raise interest rates at a faster pace, putting a brake on the economy.
While Wednesday's trading lacked the wild swings of the prior two sessions, the Dow industrials moved in a roughly 500-point range, more than three times the average daily swing over the past year. Germany's DAX declined 2.6 percent. Consider this: The S&P 500 has risen or fallen 1% five times in the past two weeks.
The Standard & Poor's 500 index, the benchmark for many index funds in 401 (k) accounts, is now down 8.7 percent from the latest record high it set January 26.
Asian shares have opened lower and are tracking the overnight plunge on Wall Street.
Even the most bullish of market strategists will say a correction is ultimately healthy for a market because it removes some of the froth and speculation.
Torsten Slok, chief global economist at Deutsche Bank, told the Financial Times: "Markets are coming to the conclusion that the US economy is close to overheating and therefore that the risks of inflation are bigger than the risks of a recession". The recession in 2008 was due to increased interest rates and variable interest loans increased that most Americans were not ready for.
So while the market plunge might rattle investors and ding consumer confidence, it is not a sign that the economy is in trouble. Those stemmed from the U.S. jobs report on Friday (Saturday NZT).
"If you put $100 into the market at the January 26 peak, you'd still have $90", said Greg McBride, chief financial analyst for Bankrate.com. On the Nasdaq, 1,596 issues rose and 1,056 fell.
The market performance also reflects the strong US and global economies, which have boosted corporate profits.
"However once this kind of stampede starts it's hard to stop".
X The Dow fell 4.15% on Thursday while the S&P 500 index and the Nasdaq composite tumbled to undercut Tuesday's intraday lows. South Korea's Kospi gained 0.5 percent and the Hang Seng of Hong Kong rose 0.4 percent. Many market watchers have predicted a pullback for some time, saying stock prices have become too expensive relative to company earnings.
"It's the end of complacent markets", says Stephen Janachowski, president and CEO of wealth management firm Brouwer & Janachowski in Mill Valley, CA.
"Seemingly the only hope for the markets at the moment is that investors suddenly decide that the sell-off has been a bit overdone", said Connor Campbell, a financial analyst at Spreadex.
"It's been a insane period and today the market is probably just trying to find some footing", said John Lynch, chief investment strategist at LPL Financial in Charlotte, North Carolina. "Prior to the price action over the last ten days, the major USA indices had rallied nearly without interruption since the Brexit vote in June 2016", said David Morrison, senior market strategist at GKFX.
Renuka privilege threat as Rijiju tweets clip on Kiren Modi
Tripathi advised the Congress not to drag the issue but said his party would go with the Congress if it takes any decision. After Prime Minister Narendra Modi mocked her for her loud laughter in Parliament, she hit back demanding an apology.
Hot Performer of the day: Wal-Mart Stores Inc. (NYSE:WMT)
Toth Financial Advisory Corp increased its stake in Wal (WMT) by 9.63% based on its latest 2017Q3 regulatory filing with the SEC. State Of Wisconsin Investment Board holds 0% in Graphic Packaging Holding Company (NYSE:GPK) or 63,062 shares.
Celtics rumors: A Marcus Smart trade is now unlikely
However, Danny Ainge is reportedly "holding the line on what be believes is proper value" to the frustration of teams. Chris Mannix of Yahoo! Emmanuel Mudiay , the player the Nuggets have apparently made available, is a first round pick.
Korea declines to accept conditional handout of Samsung phone
Abe said, "We confirmed we would further reinforce our cooperation regarding North Korea's [actions of] skirting the sanctions". Vice President Mike Pence will also attend the games, but North Korea has said it has no intention of meeting with him.
Model 3 Delays Create Losses for Tesla
Given that Tesla's first quarter ends in less than two months, management must have a high level of confidence in this target. The proposal also gives Musk the option of naming another CEO so he can concentrate on design and engineering at the company.
How Kris Jenner Feels About All The Kardashian Babies
Kim , 37, and her third husband Kanye West welcomed a daughter via surrogacy last month and have named her Chicago. People say once you have a baby life begins, but honestly, I'm so happy this is happening in my life right now.
Raises Cairn Energy (LON:CNE) Price Target to GBX 241
Jefferies maintained Twenty-First Century Fox, Inc. (NASDAQ:HEES) has "Neutral" rating given on Friday, July 31 by UBS. Numis Securities' price objective would indicate a potential upside of 69.85% from the stock's previous close.